Green day on Friday for Citi Trends (Updated on July 30, 2021)
Sell candidate since 2021-07-16 Loss -1.16% PDF
The Citi Trends stock price gained 0.66% on the last trading day (Friday, 30th Jul 2021), rising from $79.23 to $79.75. During the day the stock fluctuated 4.89% from a day low at $78.60 to a day high of $82.44. The price has been going up and down for this period, and there has been a -1.16% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 thousand more shares were traded than the day before. In total, 111 thousand shares were bought and sold for approximately $8.81 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 -18.15% during the next 3 months and, with a 90% probability hold a price between $59.99 and $72.45 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.
Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, July 19, 2021, and so far it has risen 4.74%. 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. The Citi Trends 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 $81.02 and $83.01. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 months Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss
Citi Trends finds support from accumulated volume at $79.23 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 $3.84 between high and low, or 4.89%. For the last week, the stock has had a daily average volatility of 4.53%.
Our recommended stop-loss: We hold an negative evaluation for this stock. No stop-loss is set.
Is Citi Trends stock A Buy?
Citi Trends 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.
Current score: -3.058
Predicted Opening Price for Citi Trends of Monday, August 2, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price August 2, 2021||Current price|
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Craig Hallum is very positive about CTRN and gave it a "Buy" rating on May 26, 2021. The price target was changed from $142.00 to $150.00.
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