Citi Trends Stock Forecast
Citi Trends stock price up 1.46% on Friday
(Updated on May 26, 2023)
The Citi Trends stock price gained 1.46% on the last trading day (Friday, 26th May 2023), rising from $15.12 to $15.34. During the last trading day the stock fluctuated 5.10% from a day low at $15.01 to a day high of $15.78. The price has been going up and down for this period, and there has been a -4.07% 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, 3 thousand more shares were traded than the day before. In total, 182 thousand shares were bought and sold for approximately $2.79 million.
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The stock lies in the middle of a very 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 -38.45% during the next 3 months and, with a 90% probability hold a price between $8.28 and $10.80 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.
CTRN Signals & Forecast
There are mixed signals in the stock today. 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 $16.71 and $17.42. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Thursday, May 25, 2023, and so far it has risen 1.46%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
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Support, Risk & Stop-loss for Citi Trends stock
Citi Trends finds support from accumulated volume at $15.12 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 $0.765 between high and low, or 5.10%. For the last week, the stock has had daily average volatility of 7.56%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CTRN) For The Upcoming Trading Day Of Tuesday 30th
For the upcoming trading day on Tuesday, 30th we expect Citi Trends to open at $15.38, and during the day (based on 14 day Average True Range), to move between $14.36 and $16.32, which gives a possible trading interval of +/-$0.98 (+/-6.36%) up or down from last closing price. If Citi Trends takes out the full calculated possible swing range there will be an estimated 12.72% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $15.12 (1.43%) than the resistance at $16.98 (10.69%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Citi Trends stock A Buy?
Citi Trends holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -4.240 Open Broker AccountSell Candidate Unchanged
Predicted Opening Price for Citi Trends of Tuesday, May 30, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
|Fair opening price May 30, 2023||Current price|
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Trading levels for CTRN
Fibonacci Support & Resistance Levels
Accumulated Volume Support & Resistance Levels
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