Canterbury Park Holding Corp Stock Forecast

Canterbury Park Holding Corp stock upgraded to Buy Candidate.
(Updated on Apr 26, 2024)

CPHC Signals & Forecast

The Canterbury Park Holding Corp 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 $23.52 and $22.79. 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, April 25, 2024, and so far it has fallen 0%. 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 on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Canterbury Park Holding Corp stock

Canterbury Park Holding Corp finds support from accumulated volume at $23.50 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 2.55%

Our recommended stop-loss: $22.70 (-3.92%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (CPHC) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect Canterbury Park Holding Corp to open at $23.63, and during the day (based on 14 day Average True Range), to move between $22.67 and $24.58, which gives a possible trading interval of +/-$0.96 (+/-4.05%) up or down from last closing price. If Canterbury Park Holding Corp takes out the full calculated possible swing range there will be an estimated 8.09% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $23.50 (0.53%) than the resistance at $24.78 (4.90%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Canterbury Park Holding Corp stock A Buy?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.049 Buy Candidate Upgraded

Predicted Opening Price for Canterbury Park Holding Corp of Monday, April 29, 2024

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