Cimpress (CMPR) stock price has been in a strong uptrend, forming higher lows since the start of 2023, rising from the low of $26. The stock price formed an annual high at $72.97 and faced strong rejection. CMPR retraced after rising above $70 due to the strong presence of bears above the level.
CMPR stock price corrected the bullish move and formed support at $62.30. On September 14, the asset price regained bullish momentum, rallying 11.68% in a single day. It is currently headed toward retesting $72. The last candle closed as a bullish one.
If the next candle can break the high of the last candle, the price might retest $72 and potentially shatter the resistance level of $72 and rise toward the next resistance level of $74 and $80.
On the other hand, if CMPR stock price faces rejection from $72, it might retrace back to the recent support of $62.30. Traders looking for buying opportunities should wait for the candle to close above $72.
Analysis of Cimpress PLC
The company’s division includes Vista, PrintBrothers, The Print Group, National Pen, and many other businesses. It generates maximum revenue from the Vista segment.
Cimpress PLC’s cash-to-debt ratio is 0.1, worse than 84.82% of the companies in the Media Diversified industry, indicating poor financial strength. The company has been unprofitable 6 times out of the past 10 years. The operating margin is 3.46% better than 50.59% of Media Diversified companies.
Cimpress PLC’s 3 years average annual growth rate is 9.5%. On September 14, Sean Edward Quinn, Executive Vice President and Chief Financial Officer, sold 7,795 Cimpress shares worth $530,060.
The marketing material is expected to post a quarterly loss of $0.23 per share in its upcoming earnings report, a year-over-year change of +76.3%. The consensus has estimated the revenue to be $768.67 Million, an increase of 9.3% from the previous quarter.
Will CMPR Stock Price Rise to $80?
The stock price has surged above 20, 50, 100, and 200-day exponential moving averages, suggesting bullish momentum. The Chaikin money flow score climbed above the 0 mark and stood at 0.05, indicating slight strength and capital inflow in the market.
The relative strength index stands at 61.20, implying strong participation of bulls and a bullish momentum. The Bollinger bands have started to expand, suggesting the rise in volatility.
Cimpress’s market structure and price action are bullish and will shatter the $72 resistance level. While CMPR’s financial health is poor, its profitability is fair.
Major support: $62.30 and $57
Major resistance: $74 and $80
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