CareTrust REIT Stock Forecast

CareTrust REIT stock upgraded from Sell Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Apr 25, 2024)

CTRE Signals & Forecast

The CareTrust REIT stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $23.75 and $23.88. 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 Friday, April 05, 2024, and so far it has fallen -2.32%. 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 Monday, June 05, 2023 in the long-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 CareTrust REIT stock

CareTrust REIT finds support from accumulated volume at $22.98 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.395 between high and low, or 1.67%. For the last week the stock has had daily average volatility of 1.67%.

Our recommended stop-loss: $22.87 (-4.52%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 14 days ago.)

Trading Expectations (CTRE) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect CareTrust REIT to open at $23.86, and during the day (based on 14 day Average True Range), to move between $23.56 and $24.34, which gives a possible trading interval of +/-$0.393 (+/-1.64%) up or down from last closing price. If CareTrust REIT takes out the full calculated possible swing range there will be an estimated 3.28% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $23.97 (0.08%) than the support at $22.98 (4.05%), 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 CareTrust REIT stock A Buy?

CareTrust REIT 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.821 Hold/Accumulate Upgraded

Predicted Opening Price for CareTrust REIT of Friday, April 26, 2024

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