Carrefour SA Stock Forecast
Carrefour SA stock downgraded from Buy Candidate to Hold/Accumulate after Monday trading session.
(Updated on May 20, 2024)
The Carrefour SA stock price fell by -0.275% on the last day (Monday, 20th May 2024) from $3.63 to $3.62. During the last trading day the stock fluctuated 1.68% from a day low at $3.57 to a day high of $3.63. The price has fallen in 6 of the last 10 days but is still up by 4.93% over the past 2 weeks. Volume has increased on the last day by 5 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 84 thousand shares were bought and sold for approximately $304.17 thousand.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Carrefour SA stock with a 90% probability to be traded between $3.45 and $3.79 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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CRRFY Signals & Forecast
The Carrefour SA stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $3.62. On a fall, the stock will find some support from the long-term average at approximately $3.48. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Monday, May 13, 2024, and so far it has fallen -2.69%. Further fall is indicated until a new bottom pivot has been found. Carrefour SA 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".
Support, Risk & Stop-loss for Carrefour SA stock
Carrefour SA finds support from accumulated volume at $3.50 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 $0.0600 between high and low, or 1.68%. For the last week, the stock has had daily average volatility of 2.17%.
Our recommended stop-loss: $3.51 (-3.13%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 12 days ago.)
Trading Expectations (CRRFY) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Carrefour SA to open at $3.61, and during the day (based on 14 day Average True Range), to move between $3.52 and $3.72, which gives a possible trading interval of +/-$0.0980 (+/-2.71%) up or down from last closing price. If Carrefour SA takes out the full calculated possible swing range there will be an estimated 5.41% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3.63 (0.28%) than the support at $3.50 (3.31%), 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
Carrefour SA will release earnings BMO on Friday, May 24, 2024. We will update the financials statements for Carrefour SA, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.70% in the first trading day after earnings release.
Is Carrefour SA stock A Buy?
Carrefour SA holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.222 Hold/Accumulate Downgraded
Predicted Opening Price for Carrefour SA of Tuesday, May 21, 2024
Fair opening price May 21, 2024 | Current price |
---|---|
$3.61 ( 0.368%) | $3.62 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CRRFY
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 3.67 | 1.29 % | |
R2 | 3.64 | 0.656 % | ||
R1 | 3.63 | 0.265 % | ||
Current price: | 3.62 | |||
Support | S1 | 3.58 | -1.00 % | |
S2 | 3.57 | -1.39 % | ||
S3 | 3.55 | -2.03 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 3.72 | 2.76 % | |
R2 | 3.70 | 2.21 % | ||
R1 | 3.63 | 0.276 % | ||
Current price | 3.62 | |||
Support | S1 | 3.50 | -3.31% | |
S2 | 3.47 | -4.14% | ||
S3 | 3.39 | -6.35% |
CRRFY Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 29, 2024 | May 29, 2024 | Jun 21, 2024 | $0.187 | 5.17% |
2 | Jun 01, 2023 | Jun 06, 2023 | Jun 28, 2023 | $0.121 | 3.15% |
3 | Jun 07, 2022 | Jun 07, 2022 | Jun 07, 2022 | $0.110 | 2.66% |
4 | Jun 08, 2020 | Jun 08, 2020 | Jun 08, 2020 | $0.0500 | 1.52% |
5 | Jun 20, 2019 | Jun 20, 2019 | Jun 20, 2019 | $0.104 | 2.77% |
FAQ
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