Cantaloupe, Inc. Stock Forecast
Evaluation of Cantaloupe, Inc. stock downgraded after the last trading session.
(Updated on Apr 24, 2024)
The Cantaloupe, Inc. stock price fell by -2.41% on the last day (Wednesday, 24th Apr 2024) from $6.23 to $6.08. During the last trading day the stock fluctuated 2.39% from a day low at $6.06 to a day high of $6.20. The price has fallen in 7 of the last 10 days and is down by -3.03% for this period. Volume has increased on the last day by 99 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, 219 thousand shares were bought and sold for approximately $1.33 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -8.37% during the next 3 months and, with a 90% probability hold a price between $5.26 and $6.00 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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CTLP Signals & Forecast
There are few to no technical positive signals at the moment. The Cantaloupe, Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $6.20 and $6.29. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -6.17%. 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). Cantaloupe, Inc. 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 Cantaloupe, Inc. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.145 between high and low, or 2.39%. For the last week the stock has had daily average volatility of 2.39%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CTLP) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Cantaloupe, Inc. to open at $6.11, and during the day (based on 14 day Average True Range), to move between $5.91 and $6.25, which gives a possible trading interval of +/-$0.175 (+/-2.88%) up or down from last closing price. If Cantaloupe, Inc. takes out the full calculated possible swing range there will be an estimated 5.75% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $6.21, some $0.130 (2.14%) from the current price of $6.08, our system finds the risk reward not very attractive.
Earnings coming up
Cantaloupe, Inc. will release earnings BMO on Thursday, May 02, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.0500. We will update the financials statements for Cantaloupe, Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.96% in the first trading day after earnings release.
Is Cantaloupe, Inc. stock A Buy?
Cantaloupe, Inc. holds several negative signals and is within a wide and falling trend, so we believe 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 Sell to a Strong Sell candidate.
Current score: -5.064 Strong Sell Candidate Downgraded
Predicted Opening Price for Cantaloupe, Inc. of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $6.11 ( 0.521%) | $6.08 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CTLP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.26 | 2.91 % | |
| R2 | 6.20 | 1.99 % | ||
| R1 | 6.17 | 1.43 % | ||
| Current price: | 6.08 | |||
| Support | S1 | 6.06 | -0.390 % | |
| S2 | 6.02 | -0.95 % | ||
| S3 | 5.97 | -1.86 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.30 | 3.62 % | |
| R2 | 6.28 | 3.29 % | ||
| R1 | 6.21 | 2.14 % | ||
| Current price | 6.08 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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