Carpenter Technology Corporation Stock Forecast
Carpenter Technology Corporation stock price ended at $78.04 on Friday, after losing 1.69%.
(Updated on Apr 19, 2024)
The Carpenter Technology Corporation stock price fell by -1.69% on the last day (Friday, 19th Apr 2024) from $79.38 to $78.04. During the last trading day the stock fluctuated 3.43% from a day low at $77.33 to a day high of $79.98. The price has been going up and down for this period, and there has been a -0.04% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -291 thousand shares and in total, 589 thousand shares were bought and sold for approximately $46.00 million.
The stock lies in the middle of a wide and strong 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 24.66% during the next 3 months and, with a 90% probability hold a price between $88.99 and $103.47 at the end of this 3-month period.
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CRS Signals & Forecast
The Carpenter Technology Corporation 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 $77.85 and $71.32. 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). 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 08, 2024, and so far it has fallen -3.20%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Carpenter Technology Corporation stock
Carpenter Technology Corporation finds support from accumulated volume at $77.00 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 $2.65 between high and low, or 3.43%. For the last week, the stock has had daily average volatility of 3.85%.
Our recommended stop-loss: $74.57 (-4.44%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (CRS) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Carpenter Technology Corporation to open at $78.45, and during the day (based on 14 day Average True Range), to move between $75.46 and $80.62, which gives a possible trading interval of +/-$2.58 (+/-3.31%) up or down from last closing price. If Carpenter Technology Corporation takes out the full calculated possible swing range there will be an estimated 6.62% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $78.07 (0.04%) than the support at $77.00 (1.33%), 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 Carpenter Technology Corporation 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 Carpenter Technology Corporation stock to perform well in the short-term.
Current score: 2.161 Buy Candidate Unchanged
Predicted Opening Price for Carpenter Technology Corporation of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $78.45 ( 0.525%) | $78.04 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CRS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 81.10 | 3.92 % | |
| R2 | 80.09 | 2.62 % | ||
| R1 | 79.46 | 1.82 % | ||
| Current price: | 78.04 | |||
| Support | S1 | 77.44 | -0.772 % | |
| S2 | 76.81 | -1.57 % | ||
| S3 | 75.80 | -2.87 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 80.62 | 3.31 % | |
| R2 | 79.38 | 1.72 % | ||
| R1 | 78.07 | 0.0384 % | ||
| Current price | 78.04 | |||
| Support | S1 | 77.00 | -1.33% | |
| S2 | 61.84 | -20.76% | ||
| S3 | 61.59 | -21.08% |
CRS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 22, 2024 | Apr 22, 2024 | Jun 06, 2024 | $0.200 | 0.256% |
| 2 | Jan 18, 2024 | Jan 29, 2024 | Mar 07, 2024 | $0.200 | 0.292% |
| 3 | Oct 12, 2023 | Oct 23, 2023 | Dec 07, 2023 | $0.200 | 0.310% |
| 4 | Aug 21, 2023 | Aug 21, 2023 | Sep 07, 2023 | $0.200 | 0.322% |
| 5 | Apr 20, 2023 | May 01, 2023 | Jun 01, 2023 | $0.200 | 0.433% |
FAQ
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