Crane Company Stock Forecast
Crane Company stock upgraded from Buy Candidate to Strong Buy Candidate after Thursday trading session.
(Updated on Apr 25, 2024)
The Crane Company stock price gained 1.30% on the last trading day (Thursday, 25th Apr 2024), rising from $142.13 to $143.98. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 4.67% from a day low at $139.29 to a day high of $145.80. The price has risen in 6 of the last 10 days and is up by 5.24% over the past 2 weeks. Volume fell on the last day by -86 thousand shares and in total, 349 thousand shares were bought and sold for approximately $50.19 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock has broken the strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $143.85, a level that may pose a second chance to hit a runner. According to fan-theory $156.85 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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CR Signals & Forecast
The Crane Company 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 $134.85 and $133.85. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 11.28%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Crane Company stock
On the downside, the stock finds support just below today's level from accumulated volume at $124.11 and $122.97. 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, Crane Company finds support just below today's level at $124.11. If this is broken, then the next support from accumulated volume will be at $122.97 and $113.61.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $6.51 (4.67%) between high and low. For the last week, the stock has had daily average volatility of 3.17%.
Our recommended stop-loss: $139.26 (-3.28%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (CR) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Crane Company to open at $143.02, and during the day (based on 14 day Average True Range), to move between $140.20 and $147.76, which gives a possible trading interval of +/-$3.78 (+/-2.63%) up or down from last closing price. If Crane Company takes out the full calculated possible swing range there will be an estimated 5.26% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $124.11, some $19.87 (13.80%) from the current price of $143.98, our system finds the risk reward attractive.
Is Crane Company stock A Buy?
Crane Company holds several positive signals and has broken the strong rising trend up. As the stock is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 6.886 Strong Buy Candidate Upgraded
Predicted Opening Price for Crane Company of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $143.02 ( 0.664%) | $143.98 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 149.53 | 3.86 % | |
| R2 | 147.05 | 2.13 % | ||
| R1 | 145.51 | 1.06 % | ||
| Current price: | 143.98 | |||
| Support | S1 | 140.54 | -2.39 % | |
| S2 | 139.00 | -3.46 % | ||
| S3 | 136.52 | -5.18 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 143.98 | |||
| Support | S1 | 124.11 | -13.80% | |
| S2 | 122.97 | -14.59% | ||
| S3 | 113.61 | -21.09% |
CR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 28, 2024 | Feb 28, 2024 | Mar 13, 2024 | $0.205 | 0.156% |
| 2 | Oct 23, 2023 | Nov 29, 2023 | Dec 13, 2023 | $0.180 | 0.167% |
| 3 | Jul 25, 2023 | Aug 30, 2023 | Sep 13, 2023 | $0.180 | 0.209% |
| 4 | May 10, 2023 | May 30, 2023 | Jun 08, 2023 | $0.180 | 0.225% |
| 5 | Jan 23, 2023 | Feb 27, 2023 | Mar 08, 2023 | $0.470 | 0.393% |
FAQ
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