Churchill Downs Stock Forecast
Green day on Wednesday for Churchill Downs stock after gaining 0.643%
(Updated on May 01, 2024)
The Churchill Downs stock price gained 0.643% on the last trading day (Wednesday, 1st May 2024), rising from $129.00 to $129.83. During the last trading day the stock fluctuated 2.22% from a day low at $128.22 to a day high of $131.07. The price has risen in 6 of the last 10 days and is up by 7.23% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 413 thousand more shares were traded than the day before. In total, 948 thousand shares were bought and sold for approximately $123.05 million.
The stock lies in the upper part of a wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $130.35 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 5.24% during the next 3 months and, with a 90% probability hold a price between $122.22 and $137.19 at the end of this 3-month period.
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CHDN Signals & Forecast
The Churchill Downs 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 $127.79 and $122.04. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical 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 Monday, April 29, 2024, and so far it has fallen -0.238%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Churchill Downs stock
Churchill Downs finds support from accumulated volume at $129.23 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 $2.85 between high and low, or 2.22%. For the last week, the stock has had daily average volatility of 2.41%.
Our recommended stop-loss: $124.81 (-3.87%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (CHDN) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Churchill Downs to open at $129.70, and during the day (based on 14 day Average True Range), to move between $126.39 and $133.27, which gives a possible trading interval of +/-$3.44 (+/-2.65%) up or down from last closing price. If Churchill Downs takes out the full calculated possible swing range there will be an estimated 5.31% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $130.14 (0.24%) than the support at $129.23 (0.46%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Churchill Downs stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Churchill Downs stock to perform well in the short-term.
Current score: 2.830 Buy Candidate Unchanged
Predicted Opening Price for Churchill Downs of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $129.70 ( 0.0976%) | $129.83 |
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 | 132.55 | 2.10 % | |
| R2 | 131.46 | 1.26 % | ||
| R1 | 130.79 | 0.741 % | ||
| Current price: | 129.83 | |||
| Support | S1 | 128.61 | -0.94 % | |
| S2 | 127.94 | -1.45 % | ||
| S3 | 126.85 | -2.29 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 130.14 | 0.239 % | ||
| Current price | 129.83 | |||
| Support | S1 | 129.23 | -0.462% | |
| S2 | 123.75 | -4.68% | ||
| S3 | 117.37 | -9.60% |
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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