Consolidated Tomoka Land Company Stock Forecast

Consolidated Tomoka Land Company stock downgraded to Hold/Accumulate
(Updated on May 02, 2024)

CTO Signals & Forecast

The Consolidated Tomoka Land Company 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 $17.27 and $16.91. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, March 14, 2024, and so far it has risen 5.94%. 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. The stock had a Golden Star Signal on Thursday, February 22, 2024 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Consolidated Tomoka Land Company stock

Consolidated Tomoka Land Company finds support from accumulated volume at $17.09 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.196 between high and low, or 1.13%. For the last week the stock has had daily average volatility of 1.17%

Our recommended stop-loss: $16.87 (-3.46%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 34 days ago.)

Trading Expectations (CTO) For The Upcoming Trading Day Of Friday 3rd

For the upcoming trading day on Friday, 3rd we expect Consolidated Tomoka Land Company to open at $17.46, and during the day (based on 14 day Average True Range), to move between $17.25 and $17.69, which gives a possible trading interval of +/-$0.217 (+/-1.24%) up or down from last closing price. If Consolidated Tomoka Land Company takes out the full calculated possible swing range there will be an estimated 2.48% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $17.09, some $0.380 (2.18%) from the current price of $17.47, our system finds the risk reward attractive.

Is Consolidated Tomoka Land Company stock A Buy?

Consolidated Tomoka Land Company 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: 0.000 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 Consolidated Tomoka Land Company of Friday, May 3, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.