Continental Aktiengesellschaft Stock Forecast
Stronger technical forecast for Continental Aktiengesellschaft stock price after Thursday trading.
(Updated on May 30, 2024)
The Continental Aktiengesellschaft stock price gained 1.88% on the last trading day (Thursday, 30th May 2024), rising from $63.80 to $65.00. During the last trading day the stock fluctuated 0.615% from a day low at $65.00 to a day high of $65.40. The price has fallen in 6 of the last 10 days and is down by -1.35% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 258 more shares were traded than the day before. In total, 262 shares were bought and sold for approximately $17.03 thousand.
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 -16.54% during the next 3 months and, with a 90% probability hold a price between $48.68 and $56.18 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.
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CTTAF Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 3.67%. Further rise is indicated until a new top pivot has been found. Continental Aktiengesellschaft has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Continental Aktiengesellschaft 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 $65.27 and $66.07. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Continental Aktiengesellschaft stock
Continental Aktiengesellschaft finds support from accumulated volume at $64.80 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.400 (0.615%) between high and low. For the last week, the stock has had daily average volatility of 2.70%.
Our recommended stop-loss: $61.70 (-5.08%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 35 days ago.)
Trading Expectations (CTTAF) For The Upcoming Trading Day Of Friday 31st
For the upcoming trading day on Friday, 31st we expect Continental Aktiengesellschaft to open at $65.13, and during the day (based on 14 day Average True Range), to move between $62.29 and $67.71, which gives a possible trading interval of +/-$2.71 (+/-4.18%) up or down from last closing price. If Continental Aktiengesellschaft takes out the full calculated possible swing range there will be an estimated 8.35% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $65.20 (0.31%) than the support at $64.80 (0.31%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Continental Aktiengesellschaft stock A Buy?
Continental Aktiengesellschaft holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.065 Hold/Accumulate Upgraded
Predicted Opening Price for Continental Aktiengesellschaft of Friday, May 31, 2024
| Fair opening price May 31, 2024 | Current price |
|---|---|
| $65.13 ( 0.205%) | $65.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CTTAF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 65.53 | 0.82 % | |
| R2 | 65.38 | 0.585 % | ||
| R1 | 65.29 | 0.440 % | ||
| Current price: | 65.00 | |||
| Support | S1 | 64.98 | -0.0299 % | |
| S2 | 64.89 | -0.175 % | ||
| S3 | 64.73 | -0.410 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 73.50 | 13.08 % | |
| R2 | 67.25 | 3.46 % | ||
| R1 | 65.20 | 0.308 % | ||
| Current price | 65.00 | |||
| Support | S1 | 64.80 | -0.308% | |
| S2 | 64.40 | -0.92% | ||
| S3 | 64.20 | -1.23% |
CTTAF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 29, 2024 | Apr 29, 2024 | Apr 29, 2024 | $0 | 0% |
| 2 | Apr 28, 2023 | Apr 28, 2023 | Apr 28, 2023 | $1.50 | 2.12% |
| 3 | May 02, 2022 | May 02, 2022 | May 02, 2022 | $2.20 | 3.29% |
| 4 | Jul 15, 2020 | Jul 15, 2020 | Jul 15, 2020 | $3.00 | 3.06% |
| 5 | May 04, 2020 | May 04, 2020 | May 04, 2020 | $4.00 | 4.67% |
FAQ
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