Consumer Portfolio Services Stock Forecast
Consumer Portfolio Services stock downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on May 03, 2024)
The Consumer Portfolio Services stock price gained 1.48% on the last trading day (Friday, 3rd May 2024), rising from $8.78 to $8.91. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 5.54% from a day low at $8.66 to a day high of $9.14. The price has risen in 6 of the last 10 days but is still down by -1% for this period. Volume fell on the last day by -2 thousand shares and in total, 28 thousand shares were bought and sold for approximately $246.90 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 the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $9.16 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -3.37% during the next 3 months and, with a 90% probability hold a price between $6.92 and $8.85 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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CPSS Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -3.57%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 also not. The Consumer Portfolio Services 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 $8.67 and $8.26. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Consumer Portfolio Services stock
On the downside, the stock finds support just below today's level from accumulated volume at $8.07 and $7.98. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Consumer Portfolio Services finds support just below today's level at $8.07. If this is broken, then the next support from accumulated volume will be at $7.98 and $7.67.
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 $0.480 between high and low, or 5.54%. For the last week the stock has had daily average volatility of 4.37%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CPSS) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Consumer Portfolio Services to open at $8.90, and during the day (based on 14 day Average True Range), to move between $8.47 and $9.35, which gives a possible trading interval of +/-$0.437 (+/-4.90%) up or down from last closing price. If Consumer Portfolio Services takes out the full calculated possible swing range there will be an estimated 9.80% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $9.00 (1.01%) than the support at $8.07 (9.43%), 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.
Earnings coming up
Consumer Portfolio Services will release earnings BMO on Wednesday, May 08, 2024. We will update the financials statements for Consumer Portfolio Services, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.91% in the first trading day after earnings release.
Is Consumer Portfolio Services stock A Buy?
Consumer Portfolio Services 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: -1.177 Sell Candidate Downgraded
Predicted Opening Price for Consumer Portfolio Services of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $8.90 ( 0.0752%) | $8.91 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CPSS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.38 | 5.31 % | |
| R2 | 9.20 | 3.25 % | ||
| R1 | 9.09 | 1.98 % | ||
| Current price: | 8.91 | |||
| Support | S1 | 8.72 | -2.13 % | |
| S2 | 8.61 | -3.40 % | ||
| S3 | 8.42 | -5.46 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.24 | 3.70 % | |
| R2 | 9.13 | 2.47 % | ||
| R1 | 9.00 | 1.01 % | ||
| Current price | 8.91 | |||
| Support | S1 | 8.07 | -9.43% | |
| S2 | 7.98 | -10.44% | ||
| S3 | 7.67 | -13.92% |
FAQ
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