Cemtrex Inc. Stock Forecast
Cemtrex Inc. stock price down 2.33% on Tuesday
(Updated on Jul 02, 2024)
The Cemtrex Inc. stock price fell by -2.33% on the last day (Tuesday, 2nd Jul 2024) from $0.219 to $0.214. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 6.33% from a day low at $0.207 to a day high of $0.220. The price has fallen in 7 of the last 10 days and is down by -14.64% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -43 thousand shares and in total, 354 thousand shares were bought and sold for approximately $75.75 thousand.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is -$0.0866, a level that may pose a second chance to hit a runner. According to fan-theory $1.83 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt. Due to the high volatility and the trend direction we are not able to give forecast range for this stock. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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CETX Signals & Forecast
There are few to no technical positive signals at the moment. The Cemtrex Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.223 and $0.313. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 17, 2024, and so far it has fallen -56.08%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Cemtrex Inc. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0131 between high and low, or 6.33%. For the last week the stock has had daily average volatility of 6.86%.
Cemtrex Inc. is oversold on RSI14 (15). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CETX) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Cemtrex Inc. to open at $0.214, and during the day (based on 14 day Average True Range), to move between $0.165 and $0.263, which gives a possible trading interval of +/-$0.0492 (+/-23.01%) up or down from last closing price. If Cemtrex Inc. takes out the full calculated possible swing range there will be an estimated 46.01% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.220, some $0.0061 (2.85%) from the current price of $0.214, our system finds the risk reward not very attractive.
Is Cemtrex Inc. stock A Buy?
Cemtrex Inc. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -5.277 Strong Sell Candidate Unchanged
Predicted Opening Price for Cemtrex Inc. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $0.214 ( 0.140%) | $0.214 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CETX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.227 | 5.98% |
| R2 | 0.222 | 3.64% |
| R1 | 0.219 | 2.20% |
| Price | 0.214 | |
| S1 | 0.209 | -2.48% |
| S2 | 0.206 | -3.93% |
| S3 | 0.201 | -6.26% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.251 | 17.16% |
| R2 | 0.233 | 8.88% |
| R1 | 0.220 | 2.85% |
| Price | 0.214 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
CETX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 07, 2017 | Mar 29, 2017 | Apr 19, 2017 | $5.60 | 0.602% |
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