Core Molding Technologies, Inc Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Core Molding Technologies, Inc stock upgraded from Strong Sell Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on May 01, 2024)
The Core Molding Technologies, Inc stock price fell by -0.499% on the last day (Wednesday, 1st May 2024) from $18.02 to $17.93. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 2.18% from a day low at $17.85 to a day high of $18.24. The price has fallen in 7 of the last 10 days and is down by -5.93% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -18 thousand shares and in total, 22 thousand shares were bought and sold for approximately $402.17 thousand.
The stock has broken the wide and strong rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $18.16. A reaction back to this level may hold a second chance to get out before further falls.
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CMT 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 Core Molding Technologies, Inc 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 $18.82 and $18.69. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 19, 2024, and so far it has fallen -9.44%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
A sell signal from a double top formation was found on Friday, April 19, 2024 and based on theory for this formation the price should fall by -11.62% to $15.85 within 20 trading days since signal was issued (Thursday, May 02, 2024).
Support, Risk & Stop-loss for Core Molding Technologies, Inc stock
Core Molding Technologies, Inc finds support from accumulated volume at $17.72 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.390 between high and low, or 2.18%. For the last week the stock has had daily average volatility of 4.95%.
Our recommended stop-loss: $16.84 (-6.06%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (CMT) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Core Molding Technologies, Inc to open at $18.01, and during the day (based on 14 day Average True Range), to move between $17.14 and $18.72, which gives a possible trading interval of +/-$0.794 (+/-4.43%) up or down from last closing price. If Core Molding Technologies, Inc takes out the full calculated possible swing range there will be an estimated 8.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $17.72 (1.17%) than the resistance at $18.39 (2.57%), 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
Core Molding Technologies, Inc will release earnings BMO on Tuesday, May 07, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.260. We will update the financials statements for Core Molding Technologies, Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 14.01% in the first trading day after earnings release.
Is Core Molding Technologies, Inc stock A Buy?
Core Molding Technologies, Inc 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 Strong Sell to a Hold/Accumulate candidate.
Current score: -0.913 Hold/Accumulate Upgraded
Predicted Opening Price for Core Molding Technologies, Inc of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $18.01 ( 0.428%) | $17.93 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CMT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 18.40 | 2.60 % | |
| R2 | 18.25 | 1.77 % | ||
| R1 | 18.16 | 1.26 % | ||
| Current price: | 17.93 | |||
| Support | S1 | 17.86 | -0.403 % | |
| S2 | 17.77 | -0.92 % | ||
| S3 | 17.62 | -1.75 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 19.76 | 10.21 % | |
| R2 | 19.23 | 7.25 % | ||
| R1 | 18.39 | 2.57 % | ||
| Current price | 17.93 | |||
| Support | S1 | 17.72 | -1.17% | |
| S2 | 17.62 | -1.73% | ||
| S3 | 16.79 | -6.36% |
CMT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 09, 2018 | May 21, 2018 | May 31, 2018 | $0.0500 | 0.347% |
| 2 | Mar 07, 2018 | Mar 16, 2018 | Mar 29, 2018 | $0.0500 | 0.280% |
| 3 | Nov 02, 2017 | Nov 16, 2017 | Nov 28, 2017 | $0.0500 | 0.224% |
| 4 | Aug 07, 2017 | Aug 16, 2017 | Aug 30, 2017 | $0.0500 | 0.244% |
| 5 | Sep 18, 1996 | Sep 18, 1996 | Sep 18, 1996 | $0.0100 | 0.421% |
FAQ
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