Cemtrex Inc. Stock Forecast
High volatility in Cemtrex Inc. stock price on Tuesday which ended trading at $2.49
(Updated on Apr 23, 2024)
The Cemtrex Inc. stock price fell by -20.70% on the last day (Tuesday, 23rd Apr 2024) from $3.14 to $2.49. During the last trading day the stock fluctuated 32.02% from a day low at $2.38 to a day high of $3.14. The price has fallen in 6 of the last 10 days and is down by -29.06% for this period. Volume has increased on the last day by 116 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 121 thousand shares were bought and sold for approximately $300.29 thousand.
The stock has broken the very wide and horizontal trend down. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately $3.33 is considered to be a "second chance" to get out before further fall. It is, however, important to note that false breaks may appear and that the price may move back into the horizontal trend. A break on increasing volume is considered to be more significant and reliable than breaks on low volume.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
CETX Signals & Forecast
There are few to no technical positive signals at the moment. The Cemtrex Inc. 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 $3.04 and $3.67. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 20, 2024, and so far it has fallen -44.54%. 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). Cemtrex Inc. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Cemtrex Inc. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.762 between high and low, or 32.02%. For the last week, the stock has had daily average volatility of 9.08%.
Cemtrex Inc. is oversold on RSI14 (16). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CETX) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Cemtrex Inc. to open at $2.67, and during the day (based on 14 day Average True Range), to move between $2.18 and $2.80, which gives a possible trading interval of +/-$0.312 (+/-12.53%) up or down from last closing price. If Cemtrex Inc. takes out the full calculated possible swing range there will be an estimated 25.06% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $3.02, some $0.530 (21.29%) from the current price of $2.49, our system finds the risk reward not very attractive.
Is Cemtrex Inc. stock A Buy?
Cemtrex Inc. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -4.344 Sell Candidate Unchanged
Predicted Opening Price for Cemtrex Inc. of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $2.67 ( 7.26%) | $2.49 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CETX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.43 | 37.86 % | |
| R2 | 3.14 | 26.17 % | ||
| R1 | 2.96 | 18.95 % | ||
| Current price: | 2.49 | |||
| Support | S1 | 2.38 | -4.43 % | |
| S2 | 2.20 | -11.66 % | ||
| S3 | 1.91 | -23.35 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.05 | 22.49 % | |
| R2 | 3.03 | 21.69 % | ||
| R1 | 3.02 | 21.29 % | ||
| Current price | 2.49 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
CETX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 07, 2017 | Mar 29, 2017 | Jun 13, 2019 | $5.60 | 7.14% |
FAQ
Click here for our free guide on how to buy Cemtrex Inc. Stock.
