Canterbury Park Holding Corp Stock Forecast

Canterbury Park Holding Corp stock price down 3.15% on Monday
(Updated on May 06, 2024)

CPHC Signals & Forecast

The Canterbury Park Holding Corp 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 $23.48 and $22.95. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, March 14, 2024, and so far it has risen 12.24%. Further rise is indicated until a new top pivot has been found. 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. Canterbury Park Holding Corp 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 very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Canterbury Park Holding Corp stock

Canterbury Park Holding Corp finds support from accumulated volume at $23.50 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 $0.380 between high and low, or 1.63%. For the last week, the stock has had daily average volatility of 0.465%.

Our recommended stop-loss: $23.00 (-2.78%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 36 days ago.)

Trading Expectations (CPHC) For The Upcoming Trading Day Of Tuesday 7th

For the upcoming trading day on Tuesday, 7th we expect Canterbury Park Holding Corp to open at $23.53, and during the day (based on 14 day Average True Range), to move between $22.83 and $24.49, which gives a possible trading interval of +/-$0.83 (+/-3.50%) up or down from last closing price. If Canterbury Park Holding Corp takes out the full calculated possible swing range there will be an estimated 7.01% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $23.50 (0.68%) than the resistance at $24.78 (4.75%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Canterbury Park Holding Corp stock A Buy?

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Canterbury Park Holding Corp stock to perform well in the short-term period.

Current score: 2.013 Buy Candidate Unchanged

Predicted Opening Price for Canterbury Park Holding Corp of Tuesday, May 7, 2024

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