Churchill Downs Stock Forecast
Churchill Downs stock price ended at $119.30 on Thursday, after losing 1.47%.
(Updated on Apr 18, 2024)
The Churchill Downs stock price fell by -1.47% on the last day (Thursday, 18th Apr 2024) from $121.08 to $119.30. During the last trading day the stock fluctuated 2.82% from a day low at $117.92 to a day high of $121.25. The price has risen in 6 of the last 10 days but is still down by -0.18% for this period. Volume has increased on the last day by 60 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 502 thousand shares were bought and sold for approximately $59.89 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Churchill Downs stock with a 90% probability to be traded between $110.61 and $123.75 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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CHDN Signals & Forecast
The Churchill Downs stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $122.12. On a fall, the stock will find some support from the long-term average at approximately $119.18. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -4.45%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Churchill Downs stock
Churchill Downs finds support from accumulated volume at $117.43 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $3.33 between high and low, or 2.82%. For the last week the stock has had daily average volatility of 2.82%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CHDN) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Churchill Downs to open at $119.49, and during the day (based on 14 day Average True Range), to move between $116.01 and $122.59, which gives a possible trading interval of +/-$3.29 (+/-2.76%) up or down from last closing price. If Churchill Downs takes out the full calculated possible swing range there will be an estimated 5.52% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $117.43 (1.57%) than the resistance at $123.75 (3.73%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Churchill Downs will release earnings AMC on Wednesday, April 24, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.780. We will update the financials statements for Churchill Downs, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.28% in the first trading day after earnings release.
Is Churchill Downs stock A Buy?
Churchill Downs holds several negative signals and is within a 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: -2.611 Sell Candidate Unchanged
Predicted Opening Price for Churchill Downs of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $119.49 ( 0.159%) | $119.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CHDN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 122.82 | 2.95 % | |
| R2 | 121.55 | 1.88 % | ||
| R1 | 120.76 | 1.23 % | ||
| Current price: | 119.30 | |||
| Support | S1 | 118.22 | -0.91 % | |
| S2 | 117.43 | -1.57 % | ||
| S3 | 116.16 | -2.63 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 124.85 | 4.65 % | |
| R2 | 124.10 | 4.02 % | ||
| R1 | 123.75 | 3.73 % | ||
| Current price | 119.30 | |||
| Support | S1 | 117.43 | -1.57% | |
| S2 | 117.37 | -1.62% | ||
| S3 | 113.15 | -5.16% |
CHDN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 30, 2023 | Nov 30, 2023 | Jan 05, 2024 | $0.357 | 0.281% |
| 2 | Oct 26, 2022 | Dec 01, 2022 | Jan 06, 2023 | $0.714 | 0.657% |
| 3 | Oct 27, 2021 | Dec 02, 2021 | Jan 07, 2022 | $0.667 | 0.578% |
| 4 | Oct 28, 2020 | Dec 03, 2020 | Jan 06, 2021 | $0.622 | 0.605% |
| 5 | Oct 30, 2019 | Dec 05, 2019 | Jan 03, 2020 | $0.581 | 0.86% |
FAQ
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