Cactus, Inc. Stock Forecast

Cactus, Inc. stock price ended at $51.23 on Monday, after gaining 1.29%.
(Updated on Apr 22, 2024)

WHD Signals & Forecast

The Cactus, 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 $50.23 and $49.13. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. 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 11, 2024, and so far it has fallen -1.95%. 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). The stock had a Golden Star Signal on Tuesday, February 06, 2024 in the short-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 Cactus, Inc. stock

On the downside, the stock finds support just below today's level from accumulated volume at $46.02 and $45.90. 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, Cactus, Inc. finds support just below today's level at $46.02. If this is broken, then the next support from accumulated volume will be at $45.90 and $43.99.

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 $1.88 (3.78%) between high and low. For the last week, the stock has had daily average volatility of 2.97%.

Our recommended stop-loss: $49.00 (-4.35%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 7 days ago.)

Trading Expectations (WHD) For The Upcoming Trading Day Of Tuesday 23rd

For the upcoming trading day on Tuesday, 23rd we expect Cactus, Inc. to open at $50.82, and during the day (based on 14 day Average True Range), to move between $49.81 and $52.65, which gives a possible trading interval of +/-$1.42 (+/-2.77%) up or down from last closing price. If Cactus, Inc. takes out the full calculated possible swing range there will be an estimated 5.54% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $51.36 (0.25%) than the support at $46.02 (10.17%), 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 Cactus, Inc. 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 Cactus, Inc. stock to perform well in the short-term.

Current score: 4.654 Buy Candidate Unchanged

Predicted Opening Price for Cactus, Inc. of Tuesday, April 23, 2024

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