Centrais Elétricas de Santa Catarina Stock Forecast
Weaker technical forecast for Centrais Elétricas de Santa Catarina as stock downgraded to Sell Candidate.
(Updated on Jun 14, 2024)
The Centrais Elétricas de Santa Catarina stock price gained 0.372% on the last trading day (Friday, 14th Jun 2024), rising from R$69.90 to R$70.16. During the last trading day the stock fluctuated 1.21% from a day low at R$69.50 to a day high of R$70.34. The price has fallen in 8 of the last 10 days and is down by -4.79% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 5 thousand more shares were traded than the day before. In total, 6 thousand shares were bought and sold for approximately R$406.93 thousand.
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 R$70.00 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 9.10% during the next 3 months and, with a 90% probability hold a price between R$76.37 and R$84.42 at the end of this 3-month period.
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CLSC4.SA Signals & Forecast
Centrais Elétricas de Santa Catarina has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Centrais Elétricas de Santa Catarina 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 R$70.73 and R$71.66. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 02, 2024, and so far it has fallen -5.57%. 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).
Support, Risk & Stop-loss for Centrais Elétricas de Santa Catarina stock
Centrais Elétricas de Santa Catarina finds support from accumulated volume at R$67.41 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 R$0.84 between high and low, or 1.21%. For the last week the stock has had daily average volatility of 1.20%.
Centrais Elétricas de Santa Catarina is oversold on RSI14 (24). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CLSC4.SA) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect Centrais Elétricas de Santa Catarina S.A. to open at R$70.00, and during the day (based on 14 day Average True Range), to move between R$69.12 and R$71.20, which gives a possible trading interval of +/-R$1.04 (+/-1.48%) up or down from last closing price. If Centrais Elétricas de Santa Catarina S.A. takes out the full calculated possible swing range there will be an estimated 2.97% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at R$70.40 (0.34%) than the support at R$67.41 (3.92%), 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 Centrais Elétricas de Santa Catarina S.A. stock A Buy?
The Centrais Elétricas de Santa Catarina stock holds several negative signals and despite the positive trend, we believe Centrais Elétricas de Santa Catarina will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.763 Sell Candidate Downgraded
Predicted Opening Price for Centrais Elétricas de Santa Catarina S.A. of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| R$70.00 ( 0.228%) | R$70.16 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CLSC4.SA
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 70.84 | 0.97% |
| R2 | 70.52 | 0.512% |
| R1 | 70.32 | 0.229% |
| Price | 70.16 | |
| S1 | 69.68 | -0.685% |
| S2 | 69.48 | -0.97% |
| S3 | 69.16 | -1.43% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 74.30 | 5.90% |
| R2 | 73.69 | 5.03% |
| R1 | 70.40 | 0.342% |
| Price | 70.16 | |
| S1 | 67.41 | -3.92% |
| S2 | 66.55 | -5.15% |
| S3 | 66.10 | -5.79% |
CLSC4 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 02, 2024 | May 02, 2024 | Dec 27, 2024 | R$0.276 | 0.393% |
| 2 | Mar 25, 2024 | Mar 25, 2024 | Dec 01, 2025 | R$1.19 | 1.69% |
| 3 | Dec 26, 2023 | Dec 26, 2023 | Dec 27, 2024 | R$2.28 | 3.25% |
| 4 | Oct 02, 2023 | Oct 02, 2023 | Oct 02, 2023 | R$1.31 | 2.14% |
| 5 | Jul 03, 2023 | Jul 03, 2023 | Jul 03, 2023 | R$1.25 | 2.27% |
FAQ
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