Crocs Stock Forecast
Crocs stock upgraded to Buy Candidate.
(Updated on May 09, 2024)
The Crocs stock price gained 3.16% on the last trading day (Thursday, 9th May 2024), rising from $135.42 to $139.70. During the last trading day the stock fluctuated 3.78% from a day low at $134.77 to a day high of $139.86. The price has risen in 6 of the last 10 days and is up by 13.11% 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, 163 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $190.01 million.
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 8.70% during the next 3 months and, with a 90% probability hold a price between $129.19 and $164.47 at the end of this 3-month period.
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CROX Signals & Forecast
The Crocs stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $130.40 and $131.03. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, April 01, 2024, and so far it has fallen -4.15%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Crocs stock
Crocs finds support from accumulated volume at $136.49 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 $5.09 between high and low, or 3.78%. For the last week, the stock has had daily average volatility of 4.47%.
Our recommended stop-loss: $133.85 (-4.18%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 28 days ago.)
Trading Expectations (CROX) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Crocs to open at $138.11, and during the day (based on 14 day Average True Range), to move between $134.60 and $144.80, which gives a possible trading interval of +/-$5.10 (+/-3.65%) up or down from last closing price. If Crocs takes out the full calculated possible swing range there will be an estimated 7.30% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $139.99 (0.21%) than the support at $136.49 (2.30%), 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 Crocs stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Crocs stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.946 Buy Candidate Upgraded
Predicted Opening Price for Crocs of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| $138.11 ( 1.14%) | $139.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CROX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 143.20 | 2.51 % | |
| R2 | 141.26 | 1.11 % | ||
| R1 | 140.05 | 0.254 % | ||
| Current price: | 139.70 | |||
| Support | S1 | 136.17 | -2.53 % | |
| S2 | 134.96 | -3.39 % | ||
| S3 | 133.02 | -4.78 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 145.75 | 4.33 % | |
| R2 | 141.00 | 0.93 % | ||
| R1 | 139.99 | 0.208 % | ||
| Current price | 139.70 | |||
| Support | S1 | 136.49 | -2.30% | |
| S2 | 126.70 | -9.31% | ||
| S3 | 121.63 | -12.93% |
FAQ
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