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Caesars Entertainment Corporation Stock Forecast

NASDAQ:CZR BUY

$52.05 (1.24%)

Volume: 2.52M

Closed: Aug 16, 2022

Hollow Logo Score: 3.736

Caesars Entertainment Corporation Stock Forecast

BUY NASDAQ:CZR
$52.05 (1.24%)

Volume: 2.52M

Closed: Aug 16, 2022

Score Hollow Logo 3.736
Which way will CZR go? Request
Tue, Aug 16, 2022 Buy Candidate
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSI min/max Values: [ 25 - 75 ] RSI14 is 74 and the stock is currently not being overbought or oversold
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Caesars Entertainment Corporation stock price ended on $52.05 on Tuesday after gaining 1.24%
(Updated on Aug 16, 2022)


Buy candidate since 2022-08-10 Gain 7.54% PDF

The Caesars Entertainment Corporation stock price gained 1.24% on the last trading day (Tuesday, 16th Aug 2022), rising from $51.41 to $52.05. , and has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 5.11% from a day low at $50.12 to a day high of $52.68. The price has risen in 7 of the last 10 days and is up by 5.86% 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, 354 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $131.19 million.

Given the current short-term trend, the stock is expected to fall -3.78% during the next 3 months and, with a 90% probability hold a price between $33.32 and $50.08 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

Mostly positive signals in the chart today. The Caesars Entertainment Corporation stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $49.67 and $43.66. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, July 14, 2022, and so far it has risen 47.08%. 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.

Support, Risk & Stop-loss

Caesars Entertainment Corporation finds support from accumulated volume at $51.02 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $2.56 between high and low, or 5.11%. For the last week, the stock has had a daily average volatility of 4.34%.

Since the Caesars Entertainment Corporation has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

Our recommended stop-loss: $50.22 (-3.52%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 23 days ago.)

Trading Expectations For The Upcoming Trading Day Of Wednesday 17th

For the upcoming trading day on Wednesday 17th we expect Caesars Entertainment Corporation to open at $51.62, and during day (based on 14 day Average True Range), to move between $49.30 and $54.80, which gives a possible trading interval of +/-$2.75 (+/-5.28%) up or down from last closing price. If Caesars Entertainment Corporation takes out the full calculated possible swing range there will be an estimated 10.56% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $52.15 (0.19%) than the support at $51.02 (1.98%), our systems don't find the trading risk/reward intra-day attractive and any bets should be hold until the stock is closer to the support level.

Is Caesars Entertainment Corporation stock A Buy?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.

Current score: 3.736

Buy Candidate Unchanged

Predicted Opening Price for Caesars Entertainment Corporation of Wednesday, August 17, 2022

The predicted opening price is based on yesterday's movements between high, low, and the closing price.

Fair opening price August 17, 2022 Current price
$51.62 $52.05 (Overvalued)

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Fibonacci Support & Resistance Levels

Level Price Change
Resistance 54.18 4.09 %
53.20 2.21 %
52.59 1.05 %
Current price: 52.05
Support 50.64 -2.71 %
50.03 -3.87 %
49.06 -5.75 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 52.37 0.61 %
52.34 0.56 %
52.15 0.19 %
Current price 52.05
Support 51.02 -1.98%
48.40 -7.01%
43.14 -17.12%

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About Caesars Entertainment Corporation

Caesars Entertainment Caesars Entertainment, Inc. operates as a gaming and hospitality company in the United States. The company operates casinos comprising poker, keno, and race and online sportsbooks; dining venues, bars, nightclubs, and lounges; hotels; and entertainment venues. It also provides staffing and management services; accessories, souvenirs, and decorative items through retail stores; and online sports betting and iGaming services. As of December 31,2021... Read more

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