Citi Trends Stock Forecast
Stronger technical forecast for Citi Trends stock price after Wednesday trading.
(Updated on Jul 03, 2024)
The Citi Trends stock price fell by -0.568% on the last day (Wednesday, 3rd Jul 2024) from $19.38 to $19.27. It has now fallen 5 days in a row. During the last trading day the stock fluctuated 3.11% from a day low at $19.14 to a day high of $19.73. The price has fallen in 8 of the last 10 days and is down by -11.73% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -251 thousand shares and in total, 41 thousand shares were bought and sold for approximately $799.51 thousand.
The stock has broken the wide and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point ($20.01) are considered to be a "second chance" to get out. According to the fan-theory $16.06 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
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CTRN Signals & Forecast
There are few to no technical positive signals at the moment. 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 $20.59 and $22.42. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, June 03, 2024, and so far it has fallen -21.83%. 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). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Citi Trends 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.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.595 between high and low, or 3.11%. For the last week the stock has had daily average volatility of 4.92%.
Citi Trends is oversold on RSI14 (23). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
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 Friday 5th
For the upcoming trading day on Friday, 5th we expect Citi Trends to open at $19.38, and during the day (based on 14 day Average True Range), to move between $18.25 and $20.29, which gives a possible trading interval of +/-$1.02 (+/-5.29%) up or down from last closing price. If Citi Trends takes out the full calculated possible swing range there will be an estimated 10.58% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $19.38, some $0.110 (0.57%) from the current price of $19.27, our system finds the risk reward not very attractive.
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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -4.416 Sell Candidate Upgraded
Predicted Opening Price for Citi Trends of Friday, July 5, 2024
| Fair opening price July 5, 2024 | Current price |
|---|---|
| $19.38 ( 0.562%) | $19.27 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CTRN
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 19.97 | 3.65% |
| R2 | 19.75 | 2.47% |
| R1 | 19.61 | 1.74% |
| Price | 19.27 | |
| S1 | 19.15 | -0.617% |
| S2 | 19.01 | -1.35% |
| S3 | 18.78 | -2.53% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 21.73 | 12.77% |
| R2 | 21.26 | 10.33% |
| R1 | 19.38 | 0.571% |
| Price | 19.27 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
CTRN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 19, 2020 | Mar 02, 2020 | Mar 17, 2020 | $0.0800 | 0.556% |
| 2 | Nov 22, 2019 | Dec 09, 2019 | Dec 24, 2019 | $0.0800 | 0.358% |
| 3 | Aug 22, 2019 | Aug 30, 2019 | Sep 17, 2019 | $0.0800 | 0.441% |
| 4 | May 21, 2019 | Jun 03, 2019 | Jun 18, 2019 | $0.0800 | 0.528% |
| 5 | Feb 12, 2019 | Mar 04, 2019 | Mar 19, 2019 | $0.0800 | 0.406% |
FAQ
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