Cargotec Corporation Stock Forecast
Cargotec Corporation stock price ended at 74.05€ on Thursday, after gaining 0.0676%.
(Updated on May 02, 2024)
The Cargotec Corporation stock price gained 0.0676% on the last trading day (Thursday, 2nd May 2024), rising from 74.00€ to 74.05€. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 5.18% from a day low at 70.40€ to a day high of 74.05€. The price has risen in 6 of the last 10 days and is up by 19.15% over the past 2 weeks. Volume fell on the last day by -208 thousand shares and in total, 180 thousand shares were bought and sold for approximately 13.36€ million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock has broken the weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at 66.36€, a level that may pose a second chance to hit a runner.
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CGCBV.HE Signals & Forecast
The Cargotec Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at 65.66€ and 63.94€. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 22.60%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Cargotec Corporation stock
Cargotec Corporation finds support from accumulated volume at 74.00€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved 3.65€ between high and low, or 5.18%. For the last week, the stock has had daily average volatility of 4.79%.
Our recommended stop-loss: 71.86€ (-2.96%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (CGCBV.HE) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Cargotec Corporation to open at 72.83€, and during the day (based on 14 day Average True Range), to move between 71.58€ and 76.52€, which gives a possible trading interval of +/-2.47€ (+/-3.34%) up or down from last closing price. If Cargotec Corporation takes out the full calculated possible swing range there will be an estimated 6.68% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ 74.00€, some 0.0500€ (0.07%) from the current price of 74.05€, our system finds the risk reward attractive.
Is Cargotec Corporation stock A Buy?
Cargotec Corporation holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Cargotec Corporation of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| 72.83€ ( 1.64%) | 74.05€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CGCBV.HE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 76.48 | 3.29 % | |
| R2 | 75.09 | 1.40 % | ||
| R1 | 74.23 | 0.240 % | ||
| Current price: | 74.05 | |||
| Support | S1 | 71.44 | -3.53 % | |
| S2 | 70.58 | -4.69 % | ||
| S3 | 69.18 | -6.57 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 74.05 | |||
| Support | S1 | 74.00 | -0.0675% | |
| S2 | 62.70 | -15.33% | ||
| S3 | 62.15 | -16.07% |
CGCBV Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 31, 2024 | May 31, 2024 | Jun 10, 2024 | 2.15€ | 2.92% |
| 2 | Mar 24, 2023 | Mar 24, 2023 | Mar 24, 2023 | 1.35€ | 3.26% |
| 3 | Mar 18, 2022 | Mar 18, 2022 | Mar 18, 2022 | 1.08€ | 3.06% |
| 4 | Mar 24, 2021 | Mar 24, 2021 | Mar 24, 2021 | 1.08€ | 2.51% |
| 5 | Sep 30, 2020 | Sep 30, 2020 | Sep 30, 2020 | 0.600€ | 2.04% |
FAQ
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