Carrols Restaurant Group, Inc Stock Forecast
Carrols Restaurant Group, Inc stock price ended at £1.40 on Monday, after losing 0%.
(Updated on Apr 22, 2024)
No changes to the price of Carrols Restaurant Group, Inc stock on the last trading day (Monday, 22nd Apr 2024). During the last trading day the stock fluctuated 0% from a day low at £1.40 to a day high of £1.40. The price has been going up and down for this period, and there has been a 33.33% gain for the last 2 weeks.
The stockis at the upper part of a very wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at £1.40 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Carrols Restaurant Group, Inc stock with a 90% probability to be traded between £0.87 and £1.41 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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TAST.L Signals & Forecast
The Carrols Restaurant Group, Inc 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 £1.31 and £1.07. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Friday, April 19, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. 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.
A buy signal from a double bottom formation was found on Wednesday, March 27, 2024 with a target of £1.00. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for Carrols Restaurant Group, Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at £1.30 and £1.17. 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, Carrols Restaurant Group, Inc finds support just below today's level at £1.30. If this is broken, then the next support from accumulated volume will be at £1.17 and £1.10.
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 12.56%
Our recommended stop-loss: £1.35 (-3.60%) (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 (TAST.L) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Carrols Restaurant Group, Inc to open at £1.40, and during the day (based on 14 day Average True Range), to move between £1.30 and £1.50, which gives a possible trading interval of +/-£0.101 (+/-7.18%) up or down from last closing price. If Carrols Restaurant Group, Inc takes out the full calculated possible swing range there will be an estimated 14.37% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ £1.30, some £0.1000 (7.14%) from the current price of £1.40, our system finds the risk reward attractive.
Is Carrols Restaurant Group, Inc stock A Buy?
Carrols Restaurant Group, Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Carrols Restaurant Group, Inc of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| £1.40 ( 0.00000000%) | £1.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TAST.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.40 | 0.00000000 % | |
| R2 | 1.40 | 0.00000000 % | ||
| R1 | 1.40 | 0.00000000 % | ||
| Current price: | 1.40 | |||
| Support | S1 | 1.40 | 0.00000000 % | |
| S2 | 1.40 | 0.00000000 % | ||
| S3 | 1.40 | 0.00000000 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 1.40 | |||
| Support | S1 | 1.30 | -7.14% | |
| S2 | 1.17 | -16.79% | ||
| S3 | 1.10 | -21.43% |
FAQ
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