Carlton Investments Limited Stock Forecast
Red day on Friday for Carlton Investments Limited
(Updated on May 31, 2024)
The Carlton Investments Limited stock price fell by -0.498% on the last day (Friday, 31st May 2024) from $30.12 to $29.97. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 0.167% from a day low at $29.95 to a day high of $30.00. The price has fallen in 5 of the last 10 days and is down by -0.76% for this period. Volume has increased on the last day by 3 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, 3 thousand shares were bought and sold for approximately $103.91 thousand.
The stock is at the lower part of a narrow and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $29.94 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Carlton Investments Limited stock with a 90% probability to be traded between $30.53 and $31.78 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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CIN.AX Signals & Forecast
There are few to no technical positive signals at the moment. The Carlton Investments Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $30.18 and $30.18. 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 10, 2024, and so far it has fallen -2.88%. 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). Carlton Investments Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The stock had a Golden Star Signal on Friday, April 26, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Friday, April 26, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
A sell signal from a double top formation was found on Friday, May 10, 2024 with a target of $30.31. Despite whether the objective of the signal formation has been reached the stock may continue to fall.
Support, Risk & Stop-loss for Carlton Investments Limited stock
Carlton Investments Limited finds support from accumulated volume at $29.90 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 $0.0500 between high and low, or 0.167%. For the last week the stock has had daily average volatility of 0.332%.
Our recommended stop-loss: $28.90 (-3.57%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 16 days ago.)
Trading Expectations (CIN.AX) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Carlton Investments Limited to open at $29.97, and during the day (based on 14 day Average True Range), to move between $29.78 and $30.16, which gives a possible trading interval of +/-$0.190 (+/-0.63%) up or down from last closing price. If Carlton Investments Limited takes out the full calculated possible swing range there will be an estimated 1.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $30.00 (0.10%) than the support at $29.90 (0.23%), 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 Carlton Investments Limited stock A Buy?
Carlton Investments Limited 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.
Current score: -0.265 Hold/Accumulate Unchanged
Predicted Opening Price for Carlton Investments Limited of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| $29.97 ( 0.0111%) | $29.97 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CIN.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 30.02 | 0.178 % | |
| R2 | 30.00 | 0.114 % | ||
| R1 | 29.99 | 0.0749 % | ||
| Current price: | 29.97 | |||
| Support | S1 | 29.95 | -0.0526 % | |
| S2 | 29.94 | -0.0920 % | ||
| S3 | 29.92 | -0.156 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 30.75 | 2.60 % | |
| R2 | 30.30 | 1.10 % | ||
| R1 | 30.00 | 0.100 % | ||
| Current price | 29.97 | |||
| Support | S1 | 29.90 | -0.234% | |
| S2 | 29.80 | -0.567% | ||
| S3 | 29.70 | -0.90% |
CIN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 29, 2024 | Feb 29, 2024 | Mar 18, 2024 | $0.410 | 1.38% |
| 2 | Aug 31, 2023 | Aug 31, 2023 | Aug 31, 2023 | $0.600 | 2.07% |
| 3 | Feb 28, 2023 | Feb 28, 2023 | Feb 28, 2023 | $0.0900 | 0.300% |
| 4 | Aug 31, 2022 | Aug 31, 2022 | Aug 31, 2022 | $0.140 | 0.452% |
| 5 | Feb 28, 2022 | Feb 28, 2022 | Feb 28, 2022 | $0.400 | 1.29% |
FAQ
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