Cementos Pacasmayo SAA Stock Forecast

Cementos Pacasmayo SAA stock downgraded from Hold/Accumulate to Sell Candidate after Wednesday trading session.
(Updated on Apr 24, 2024)

CPAC Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 1.95%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Cementos Pacasmayo SAA stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $5.81. On a fall, the stock will find some support from the short-term average at $5.21. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. The stock had a Golden Star Signal on Thursday, January 18, 2024 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Cementos Pacasmayo SAA stock

Cementos Pacasmayo SAA finds support from accumulated volume at $5.19 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 periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0700 between high and low, or 1.35%. For the last week the stock has had daily average volatility of 2.33%.

Cementos Pacasmayo SAA is oversold on RSI14 (24). 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 (CPAC) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect Cementos Pacasmayo SAA to open at $5.22, and during the day (based on 14 day Average True Range), to move between $5.04 and $5.44, which gives a possible trading interval of +/-$0.197 (+/-3.76%) up or down from last closing price. If Cementos Pacasmayo SAA takes out the full calculated possible swing range there will be an estimated 7.52% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $5.28 (0.76%) than the support at $5.19 (0.95%), 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 Cementos Pacasmayo SAA stock A Buy?

Cementos Pacasmayo SAA 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -2.152 Sell Candidate Downgraded

Predicted Opening Price for Cementos Pacasmayo SAA of Thursday, April 25, 2024

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