Constellation Brands Inc Stock Forecast
Green day on Friday for Constellation Brands Inc stock after gaining 0.255%
(Updated on Jun 21, 2024)
The Constellation Brands Inc stock price gained 0.255% on the last trading day (Friday, 21st Jun 2024), rising from $262.83 to $263.50. During the last trading day the stock fluctuated 1.01% from a day low at $260.94 to a day high of $263.57. The price has risen in 7 of the last 10 days and is up by 5.35% 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, 132 thousand more shares were traded than the day before. In total, 974 thousand shares were bought and sold for approximately $256.61 million.
The stockhas broken the falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $263.11, a level that may pose a second chance to hit a runner. According to fan-theory $286.59 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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STZ Signals & Forecast
The Constellation Brands Inc 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 $258.99 and $253.73. A breakdown below any of these levels will issue sell signals. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, June 18, 2024, and so far it has fallen -0.0569%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Constellation Brands Inc stock
Constellation Brands Inc finds support from accumulated volume at $260.70 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 $2.63 (1.01%) between high and low. For the last week, the stock has had daily average volatility of 1.92%.
The Constellation Brands Inc stock is extremely overbought on RSI14 (85). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (STZ) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Constellation Brands Inc to open at $262.67, and during the day (based on 14 day Average True Range), to move between $259.17 and $267.83, which gives a possible trading interval of +/-$4.33 (+/-1.64%) up or down from last closing price. If Constellation Brands Inc takes out the full calculated possible swing range there will be an estimated 3.29% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $264.92 (0.54%) than the support at $260.70 (1.06%), 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 Constellation Brands Inc stock A Buy?
Constellation Brands Inc 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: -1.372 Sell Candidate Unchanged
Predicted Opening Price for Constellation Brands Inc of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $262.67 ( 0.316%) | $263.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for STZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 265.30 | 0.684% |
| R2 | 264.30 | 0.302% |
| R1 | 263.67 | 0.0664% |
| Price | 263.50 | |
| S1 | 261.66 | -0.698% |
| S2 | 261.04 | -0.93% |
| S3 | 260.03 | -1.32% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 268.34 | 1.84% |
| R2 | 266.00 | 0.95% |
| R1 | 264.92 | 0.539% |
| Price | 263.50 | |
| S1 | 260.70 | -1.06% |
| S2 | 257.78 | -2.17% |
| S3 | 257.31 | -2.35% |
STZ Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 02, 2024 | May 02, 2024 | May 17, 2024 | $1.01 | 0.395% |
| 2 | Jan 04, 2024 | Feb 07, 2024 | Feb 22, 2024 | $0.89 | 0.362% |
| 3 | Oct 04, 2023 | Nov 02, 2023 | Nov 17, 2023 | $0.89 | 0.378% |
| 4 | Jun 29, 2023 | Aug 09, 2023 | Aug 24, 2023 | $0.89 | 0.345% |
| 5 | Apr 05, 2023 | May 03, 2023 | Aug 24, 2023 | $0.89 | 0.345% |
FAQ
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