Canterbury Park Holding Corp 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
Canterbury Park Holding Corp stock price up 1.73% on Tuesday
(Updated on May 07, 2024)
The Canterbury Park Holding Corp stock price gained 1.73% on the last trading day (Tuesday, 7th May 2024), rising from $23.66 to $24.07. During the last trading day the stock fluctuated 0.94% from a day low at $23.85 to a day high of $24.07. The price has risen in 5 of the last 10 days and is up by 4.47% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 134 more shares were traded than the day before. In total, 1 thousand shares were bought and sold for approximately $26.21 thousand.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Canterbury Park Holding Corp stock with a 90% probability to be traded between $20.71 and $28.53 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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CPHC Signals & Forecast
Mostly positive signals in the chart today. 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 $23.54 and $23.01. 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 14.18%. 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). Canterbury Park Holding Corp 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. 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 $0.225 between high and low, or 0.94%. For the last week, the stock has had daily average volatility of 0.515%.
Our recommended stop-loss: $23.13 (-3.90%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 37 days ago.)
Trading Expectations (CPHC) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Canterbury Park Holding Corp to open at $24.00, and during the day (based on 14 day Average True Range), to move between $23.27 and $24.87, which gives a possible trading interval of +/-$0.80 (+/-3.33%) 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 6.65% 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 (2.37%) than the resistance at $24.78 (2.96%), 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
Canterbury Park Holding Corp will release earnings BMO on Thursday, May 09, 2024. We will update the financials statements for Canterbury Park Holding Corp, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.79% in the first trading day after earnings release.
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: 2.491 Buy Candidate Unchanged
Predicted Opening Price for Canterbury Park Holding Corp of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $24.00 ( 0.312%) | $24.07 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CPHC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24.22 | 0.623 % | |
| R2 | 24.13 | 0.266 % | ||
| R1 | 24.08 | 0.0455 % | ||
| Current price: | 24.07 | |||
| Support | S1 | 23.91 | -0.669 % | |
| S2 | 23.86 | -0.89 % | ||
| S3 | 23.77 | -1.25 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 28.81 | 19.69 % | |
| R2 | 27.03 | 12.30 % | ||
| R1 | 24.78 | 2.96 % | ||
| Current price | 24.07 | |||
| Support | S1 | 23.50 | -2.37% | |
| S2 | 23.00 | -4.45% | ||
| S3 | 21.31 | -11.47% |
CPHC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 14, 2024 | Mar 27, 2024 | Apr 12, 2024 | $0.0700 | 0.317% |
| 2 | Dec 14, 2023 | Dec 28, 2023 | Jan 12, 2024 | $0.0700 | 0.332% |
| 3 | Sep 15, 2023 | Sep 28, 2023 | Oct 13, 2023 | $0.0700 | 0.345% |
| 4 | Jun 14, 2023 | Jun 29, 2023 | Jul 14, 2023 | $0.0700 | 0.306% |
| 5 | Mar 17, 2023 | Mar 30, 2023 | Apr 14, 2023 | $0.0700 | 0.299% |
FAQ
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