CareTrust REIT Stock Forecast
Stronger technical forecast for CareTrust REIT stock price after Tuesday trading.
(Updated on Jul 02, 2024)
The CareTrust REIT stock price gained 0.84% on the last trading day (Tuesday, 2nd Jul 2024), rising from $25.14 to $25.35. 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 1.64% from a day low at $25.07 to a day high of $25.48. The price has risen in 5 of the last 10 days and is up by 0.72% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 67 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $26.57 million.
The stock lies in the middle of a weak 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 6.62% during the next 3 months and, with a 90% probability hold a price between $26.41 and $28.44 at the end of this 3-month period.
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CTRE Signals & Forecast
The CareTrust REIT stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $24.98 and $25.26. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 25, 2024, and so far it has risen 2.88%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for CareTrust REIT stock
CareTrust REIT finds support from accumulated volume at $25.17 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.410 between high and low, or 1.64%. For the last week the stock has had daily average volatility of 1.52%.
Our recommended stop-loss: $23.86 (-5.88%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 19 days ago.)
Trading Expectations (CTRE) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect CareTrust REIT to open at $25.30, and during the day (based on 14 day Average True Range), to move between $24.94 and $25.76, which gives a possible trading interval of +/-$0.408 (+/-1.61%) up or down from last closing price. If CareTrust REIT takes out the full calculated possible swing range there will be an estimated 3.22% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $25.17 (0.71%) than the resistance at $25.57 (0.87%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is CareTrust REIT 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 CareTrust REIT stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.539 Buy Candidate Upgraded
Predicted Opening Price for CareTrust REIT of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $25.30 ( 0.197%) | $25.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CTRE
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 25.71 | 1.42% |
| R2 | 25.55 | 0.80% |
| R1 | 25.46 | 0.421% |
| Price | 25.35 | |
| S1 | 25.14 | -0.82% |
| S2 | 25.05 | -1.20% |
| S3 | 24.89 | -1.81% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 26.17 | 3.23% |
| R2 | 26.14 | 3.12% |
| R1 | 25.57 | 0.87% |
| Price | 25.35 | |
| S1 | 25.17 | -0.710% |
| S2 | 25.10 | -0.99% |
| S3 | 24.90 | -1.78% |
CTRE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 28, 2024 | Jun 28, 2024 | Jul 15, 2024 | $0.290 | 1.14% |
| 2 | Mar 18, 2024 | Mar 27, 2024 | Apr 15, 2024 | $0.290 | 1.23% |
| 3 | Dec 18, 2023 | Dec 28, 2023 | Jan 12, 2024 | $0.280 | 1.25% |
| 4 | Sep 15, 2023 | Sep 28, 2023 | Oct 13, 2023 | $0.280 | 1.30% |
| 5 | Jun 20, 2023 | Jun 29, 2023 | Jul 14, 2023 | $0.280 | 1.38% |
FAQ
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