Core & Main, Inc. Stock Forecast

Green day on Monday for Core & Main, Inc. stock after gaining 2.04%
(Updated on Jun 17, 2024)

CNM Signals & Forecast

There are mixed signals in the stock today. The Core & Main, Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $56.11. On a fall, the stock will find some support from the short-term average at $49.19. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Tuesday, June 11, 2024, and so far it has risen 7.12%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

Support, Risk & Stop-loss for Core & Main, Inc. stock

Core & Main, Inc. finds support from accumulated volume at $49.59 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $1.58 between high and low, or 3.19%. For the last week, the stock has had daily average volatility of 3.15%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (CNM) For The Upcoming Trading Day Of Tuesday 18th

For the upcoming trading day on Tuesday, 18th we expect Core & Main, Inc. to open at $50.37, and during the day (based on 14 day Average True Range), to move between $48.45 and $52.65, which gives a possible trading interval of +/-$2.10 (+/-4.16%) up or down from last closing price. If Core & Main, Inc. takes out the full calculated possible swing range there will be an estimated 8.32% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $50.69 (0.28%) than the support at $49.59 (1.90%), 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 Core & Main, Inc. stock A Buy?

Core & Main, Inc. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -2.496 Sell Candidate Unchanged

Predicted Opening Price for Core & Main, Inc. of Tuesday, June 18, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.