CPS Technologies Corp. Stock Forecast
Weaker technical forecast for CPS Technologies Corp. as stock downgraded to Sell Candidate.
(Updated on Apr 18, 2024)
The CPS Technologies Corp. stock price gained 2.87% on the last trading day (Thursday, 18th Apr 2024), rising from $1.74 to $1.79. During the last trading day the stock fluctuated 5.11% from a day low at $1.76 to a day high of $1.85. The price has fallen in 7 of the last 10 days and is down by -2.19% for this period. Volume fell on the last day by -16 thousand shares and in total, 24 thousand shares were bought and sold for approximately $42.34 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -29.36% during the next 3 months and, with a 90% probability hold a price between $1.18 and $1.48 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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CPSH Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 4.07%. 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. The CPS Technologies Corp. 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 $1.90. On a fall, the stock will find some support from the short-term average at $1.77. 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. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for CPS Technologies Corp. stock
CPS Technologies Corp. finds support from accumulated volume at $1.76 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 controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved $0.0899 between high and low, or 5.11%. For the last week the stock has had daily average volatility of 2.64%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CPSH) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect CPS Technologies Corp. to open at $1.80, and during the day (based on 14 day Average True Range), to move between $1.71 and $1.87, which gives a possible trading interval of +/-$0.0779 (+/-4.35%) up or down from last closing price. If CPS Technologies Corp. takes out the full calculated possible swing range there will be an estimated 8.71% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.81 (0.84%) than the support at $1.76 (1.68%), 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 CPS Technologies Corp. stock A Buy?
CPS Technologies Corp. 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. 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: -1.687 Sell Candidate Downgraded
Predicted Opening Price for CPS Technologies Corp. of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $1.80 ( 0.557%) | $1.79 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CPSH
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.89 | 5.58 % | |
| R2 | 1.86 | 3.66 % | ||
| R1 | 1.83 | 2.48 % | ||
| Current price: | 1.79 | |||
| Support | S1 | 1.77 | -1.36 % | |
| S2 | 1.74 | -2.55 % | ||
| S3 | 1.71 | -4.47 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.99 | 10.89 % | |
| R2 | 1.85 | 3.35 % | ||
| R1 | 1.81 | 0.84 % | ||
| Current price | 1.79 | |||
| Support | S1 | 1.76 | -1.68% | |
| S2 | 1.75 | -2.23% | ||
| S3 | 1.74 | -2.79% |
FAQ
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