Caixabank Stock Forecast
Caixabank stock downgraded to Hold/Accumulate
(Updated on Apr 24, 2024)
The Caixabank stock price fell by -0.566% on the last day (Wednesday, 24th Apr 2024) from $1.75 to $1.74. During the last trading day the stock fluctuated 6.32% from a day low at $1.74 to a day high of $1.85. The price has been going up and down for this period, and there has been a 2.12% gain for the last 2 weeks. 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 -14 thousand shares and in total, 62 thousand shares were bought and sold for approximately $108.65 thousand.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $1.67 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 23.28% during the next 3 months and, with a 90% probability hold a price between $2.06 and $3.07 at the end of this 3-month period.
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CAIXY Signals & Forecast
The Caixabank 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 $1.70 and $1.70. A breakdown below any of these levels will issue sell signals. 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 Thursday, March 28, 2024, and so far it has fallen -26.11%. 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 Caixabank stock
On the downside, the stock finds support just below today's level from accumulated volume at $1.64 and $1.56. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Caixabank finds support just below today's level at $1.64. If this is broken, then the next support from accumulated volume will be at $1.56 and $1.41.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.110 between high and low, or 6.32%. For the last week the stock has had daily average volatility of 6.23%.
Our recommended stop-loss: $1.65 (-4.96%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 18 days ago.)
Trading Expectations (CAIXY) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Caixabank to open at $1.78, and during the day (based on 14 day Average True Range), to move between $1.63 and $1.85, which gives a possible trading interval of +/-$0.108 (+/-6.22%) up or down from last closing price. If Caixabank takes out the full calculated possible swing range there will be an estimated 12.43% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.75 (0.57%) than the support at $1.64 (5.75%), 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 Caixabank stock A Buy?
Caixabank 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.581 Hold/Accumulate Downgraded
Predicted Opening Price for Caixabank of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $1.78 ( 2.11%) | $1.74 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CAIXY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.89 | 8.42 % | |
| R2 | 1.84 | 6.01 % | ||
| R1 | 1.82 | 4.52 % | ||
| Current price: | 1.74 | |||
| Support | S1 | 1.73 | -0.307 % | |
| S2 | 1.71 | -1.80 % | ||
| S3 | 1.67 | -4.21 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.02 | 16.09 % | |
| R2 | 1.80 | 3.44 % | ||
| R1 | 1.75 | 0.569 % | ||
| Current price | 1.74 | |||
| Support | S1 | 1.64 | -5.75% | |
| S2 | 1.56 | -10.35% | ||
| S3 | 1.41 | -19.26% |
CAIXY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 03, 2024 | Apr 03, 2024 | Apr 18, 2024 | $0.101 | 5.97% |
| 2 | Jul 09, 2023 | Apr 10, 2023 | Apr 26, 2023 | $0.0830 | 6.86% |
| 3 | Apr 14, 2022 | Apr 18, 2022 | May 05, 2022 | $0.0530 | 5.20% |
| 4 | May 19, 2021 | May 21, 2021 | Jun 08, 2021 | $0.0110 | 0.97% |
| 5 | Apr 13, 2020 | Apr 13, 2020 | Apr 30, 2020 | $0.0250 | 4.39% |
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