Churchill Downs stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Nov 26, 2021)
Hold candidate since 2021-11-26 PDF
The Churchill Downs stock price fell by -2.38% on the last day (Friday, 26th Nov 2021) from $236.24 to $230.62. During the day the stock fluctuated 4.47% from a day low at $225.19 to a day high of $235.26. The price has risen in 6 of the last 10 days and is up by 0.49% over the past 2 weeks. Volume has increased on the last day by 9 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, 135 thousand shares were bought and sold for approximately $31.22 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $230.31 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 8.52% during the next 3 months and, with a 90% probability hold a price between $249.93 and $289.02 at the end of this 3-month period.
Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Churchill Downs 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 $235.74 and $242.00. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, October 18, 2021, and so far it has fallen -10.28%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss
Churchill Downs finds support from accumulated volume at $226.91 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 $10.07 between high and low, or 4.47%. For the last week the stock has had a daily average volatility of 3.62%.
Our recommended stop-loss: $219.26 (-4.92%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 28 days ago.)
Is Churchill Downs stock A Buy?
Churchill Downs holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.879
Predicted Opening Price for Churchill Downs of Monday, November 29, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price November 29, 2021||Current price|
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On Nov 11, 2021 "Susquehanna Bancshares" gave "$275.00 - $268.00" rating for CHDN. The price target was changed from $229.43 to 1.5%.
CHDN Insider Trading
|Nov 11, 2021||Buy||255 174||Carstanjen William C||Restricted Stock Units|
|Nov 11, 2021||Buy||159 486||Mudd William E||Restricted Stock Units|
|Sep 30, 2021||Buy||153||Harrington Daniel P||Common Stock|
|Sep 30, 2021||Buy||127||Grissom Douglas C||Common Stock|
|Sep 30, 2021||Buy||69||Bridgeman Ulysses L Jr||Common Stock|
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