Shoe Carnival Stock Forecast
Green day on Thursday for Shoe Carnival
(Updated on Mar 28, 2024)
The Shoe Carnival stock price gained 2.55% on the last trading day (Thursday, 28th Mar 2024), rising from $35.73 to $36.64. During the last trading day the stock fluctuated 3.91% from a day low at $35.33 to a day high of $36.71. The price has risen in 6 of the last 10 days and is up by 14.46% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 79 thousand more shares were traded than the day before. In total, 218 thousand shares were bought and sold for approximately $8.00 million.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 30.38% during the next 3 months and, with a 90% probability hold a price between $42.01 and $51.35 at the end of this 3-month period.
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SCVL Signals & Forecast
Mostly positive signals in the chart today. The Shoe Carnival 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 $35.39 and $31.88. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, January 24, 2024, and so far it has risen 43.97%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Shoe Carnival stock
Shoe Carnival finds support from accumulated volume at $36.31 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.38 between high and low, or 3.91%. For the last week, the stock has had daily average volatility of 3.29%.
Our recommended stop-loss: $35.36 (-3.48%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 76 and this increases the risk substantially. There is a buy signal from a pivot bottom found 45 days ago.)
Trading Expectations (SCVL) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Shoe Carnival to open at $36.23, and during the day (based on 14 day Average True Range), to move between $35.38 and $37.90, which gives a possible trading interval of +/-$1.26 (+/-3.44%) up or down from last closing price. If Shoe Carnival takes out the full calculated possible swing range there will be an estimated 6.88% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $36.31, some $0.330 (0.90%) from the current price of $36.64, our system finds the risk reward attractive.
Is Shoe Carnival stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Shoe Carnival stock to perform well in the short-term.
Current score: 4.646 Buy Candidate Unchanged
Predicted Opening Price for Shoe Carnival of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$36.23 ( 1.13%) | $36.64 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SCVL
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 37.61 | 2.64 % | |
R2 | 37.08 | 1.20 % | ||
R1 | 36.75 | 0.311 % | ||
Current price: | 36.64 | |||
Support | S1 | 35.70 | -2.57 % | |
S2 | 35.37 | -3.46 % | ||
S3 | 34.85 | -4.89 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 36.64 | |||
Support | S1 | 36.31 | -0.90% | |
S2 | 35.64 | -2.73% | ||
S3 | 32.59 | -11.05% |
SCVL Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 14, 2024 | Apr 05, 2024 | Apr 22, 2024 | $0.135 | 0.369% |
2 | Dec 14, 2023 | Jan 05, 2024 | Jan 22, 2024 | $0.120 | 0.462% |
3 | Sep 21, 2023 | Oct 02, 2023 | Oct 17, 2023 | $0.120 | 0.470% |
4 | Jun 19, 2023 | Jul 03, 2023 | Jul 19, 2023 | $0.100 | 0.423% |
5 | Mar 14, 2023 | Mar 31, 2023 | Apr 17, 2023 | $0.100 | 0.399% |
FAQ
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