CaesarStone Sdot-Yam Ltd. Stock Forecast
Weaker technical forecast for CaesarStone Sdot-Yam Ltd. as stock downgraded to Hold/Accumulate.
(Updated on Apr 24, 2024)
The CaesarStone Sdot-Yam Ltd. stock price gained 4.02% on the last trading day (Wednesday, 24th Apr 2024), rising from $6.47 to $6.73. 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 5.03% from a day low at $6.48 to a day high of $6.81. The price has risen in 7 of the last 10 days and is up by 9.43% over the past 2 weeks. Volume fell on the last day by -19 thousand shares and in total, 145 thousand shares were bought and sold for approximately $978.11 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 has broken the wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $6.42, a level that may pose a second chance to hit a runner. According to fan-theory $7.66 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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CSTE Signals & Forecast
The CaesarStone Sdot-Yam Ltd. 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 $5.92 and $4.71. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 11, 2024, and so far it has risen 31.45%. 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. 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.
Support, Risk & Stop-loss for CaesarStone Sdot-Yam Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at $6.15 and $5.67. 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, CaesarStone Sdot-Yam Ltd. finds support just below today's level at $6.15. If this is broken, then the next support from accumulated volume will be at $5.67 and $5.12.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.326 between high and low, or 5.03%. For the last week the stock has had daily average volatility of 6.68%.
Our recommended stop-loss: $6.53 (-3.02%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (CSTE) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect CaesarStone Sdot-Yam Ltd. to open at $6.67, and during the day (based on 14 day Average True Range), to move between $6.35 and $7.11, which gives a possible trading interval of +/-$0.375 (+/-5.58%) up or down from last closing price. If CaesarStone Sdot-Yam Ltd. takes out the full calculated possible swing range there will be an estimated 11.15% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $6.15, some $0.580 (8.62%) from the current price of $6.73, our system finds the risk reward attractive.
Is CaesarStone Sdot-Yam Ltd. stock A Buy?
CaesarStone Sdot-Yam Ltd. 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 Strong Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for CaesarStone Sdot-Yam Ltd. of Thursday, April 25, 2024
Fair opening price April 25, 2024 | Current price |
---|---|
$6.67 ( 0.82%) | $6.73 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CSTE
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 7.00 | 4.02 % | |
R2 | 6.88 | 2.17 % | ||
R1 | 6.80 | 1.03 % | ||
Current price: | 6.73 | |||
Support | S1 | 6.55 | -2.67 % | |
S2 | 6.47 | -3.82 % | ||
S3 | 6.35 | -5.67 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 6.73 | |||
Support | S1 | 6.15 | -8.62% | |
S2 | 5.67 | -15.75% | ||
S3 | 5.12 | -23.92% |
CSTE Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Aug 04, 2022 | Aug 16, 2022 | Sep 07, 2022 | $0.250 | 2.48% |
2 | Nov 08, 2021 | Nov 16, 2021 | Nov 30, 2021 | $0.100 | 0.90% |
3 | May 05, 2021 | May 17, 2021 | Jun 01, 2021 | $0.210 | 1.24% |
4 | Nov 05, 2020 | Nov 17, 2020 | Dec 09, 2020 | $0.140 | 1.17% |
5 | Nov 06, 2019 | Nov 19, 2019 | Dec 10, 2019 | $0.150 | 1.00% |
FAQ
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