Carrols Restaurant Group Stock Forecast
Red day on Tuesday for Carrols Restaurant Group stock after losing 0%
(Updated on Apr 23, 2024)
No changes to the price of Carrols Restaurant Group stock on the last trading day (Tuesday, 23rd Apr 2024). During the last trading day the stock fluctuated 0.210% from a day low at $9.51 to a day high of $9.53. The price has risen in 4 of the last 10 days and is up by 0.32% over the past 2 weeks.
The stock is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Carrols Restaurant Group stock with a 90% probability to be traded between $9.60 and $9.64 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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TAST Signals & Forecast
The Carrols Restaurant Group 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 $9.50 and $9.49. 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). The volume rose on the last day while price remained unchanged. This may be an early warning and the stock should be watched closely. 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 Friday, April 19, 2024, and so far it has fallen -0.105%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Carrols Restaurant Group stock
Carrols Restaurant Group finds support from accumulated volume at $9.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.0200 between high and low, or 0.210%. For the last week the stock has had daily average volatility of 0.189%.
Our recommended stop-loss: $8.97 (-5.70%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (TAST) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Carrols Restaurant Group to open at $9.52, and during the day (based on 14 day Average True Range), to move between $9.49 and $9.53, which gives a possible trading interval of +/-$0.0231 (+/-0.24%) up or down from last closing price. If Carrols Restaurant Group takes out the full calculated possible swing range there will be an estimated 0.49% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $9.52 (0.11%) than the support at $9.50 (0.11%), 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 Carrols Restaurant Group stock A Buy?
Carrols Restaurant Group holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.954 Hold/Accumulate Unchanged
Predicted Opening Price for Carrols Restaurant Group of Wednesday, April 24, 2024
Fair opening price April 24, 2024 | Current price |
---|---|
$9.52 ( 0.0701%) | $9.51 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TAST
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 9.54 | 0.280 % | |
R2 | 9.53 | 0.200 % | ||
R1 | 9.52 | 0.150 % | ||
Current price: | 9.51 | |||
Support | S1 | 9.51 | -0.0102 % | |
S2 | 9.50 | -0.0599 % | ||
S3 | 9.50 | -0.140 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 9.52 | 0.105 % | ||
Current price | 9.51 | |||
Support | S1 | 9.50 | -0.105% | |
S2 | 9.49 | -0.210% | ||
S3 | 9.48 | -0.315% |
TAST Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 22, 2024 | Mar 08, 2024 | Apr 05, 2024 | $0.0200 | 0.211% |
2 | Nov 09, 2023 | Nov 20, 2023 | Dec 15, 2023 | $0.0200 | 0.275% |
3 | Aug 12, 2021 | Aug 24, 2021 | Oct 05, 2021 | $0.410 | 10.96% |
4 | May 08, 2012 | May 08, 2012 | May 08, 2012 | $11.10 | 250.00% |
FAQ
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