Clearfield Stock Forecast
Red day on Thursday for Clearfield stock after losing 0.81%
(Updated on Apr 25, 2024)
The Clearfield stock price fell by -0.81% on the last day (Thursday, 25th Apr 2024) from $29.60 to $29.36. During the last trading day the stock fluctuated 2.42% from a day low at $28.77 to a day high of $29.47. The price has fallen in 5 of the last 10 days and is down by -4.71% for this period. Volume has increased on the last day by 10 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 101 thousand shares were bought and sold for approximately $2.96 million.
The stock lies in the middle of a wide and weak 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 4.25% during the next 3 months and, with a 90% probability hold a price between $27.57 and $33.73 at the end of this 3-month period.
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CLFD Signals & Forecast
There are few to no technical positive signals at the moment. The Clearfield stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $29.60. On a fall, the stock will find some support from the short-term average at $28.90. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Friday, March 01, 2024, and so far it has fallen -6.94%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Clearfield stock
Clearfield finds support from accumulated volume at $28.90 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 $0.695 between high and low, or 2.42%. For the last week, the stock has had daily average volatility of 2.88%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CLFD) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Clearfield to open at $29.20, and during the day (based on 14 day Average True Range), to move between $28.36 and $30.36, which gives a possible trading interval of +/-$1.00 (+/-3.42%) up or down from last closing price. If Clearfield takes out the full calculated possible swing range there will be an estimated 6.84% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $29.44 (0.27%) than the support at $28.90 (1.57%), 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.
Earnings coming up
Clearfield will release earnings AMC on Thursday, May 02, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.530. We will update the financials statements for Clearfield, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.39% in the first trading day after earnings release.
Is Clearfield stock A Buy?
The Clearfield stock holds several negative signals and despite the positive trend, we believe Clearfield will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.060 Sell Candidate Unchanged
Predicted Opening Price for Clearfield of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $29.20 ( 0.548%) | $29.36 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CLFD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 29.89 | 1.82 % | |
| R2 | 29.63 | 0.91 % | ||
| R1 | 29.46 | 0.356 % | ||
| Current price: | 29.36 | |||
| Support | S1 | 28.93 | -1.45 % | |
| S2 | 28.77 | -2.01 % | ||
| S3 | 28.50 | -2.92 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 29.64 | 0.95 % | |
| R2 | 29.45 | 0.307 % | ||
| R1 | 29.44 | 0.272 % | ||
| Current price | 29.36 | |||
| Support | S1 | 28.90 | -1.57% | |
| S2 | 28.64 | -2.45% | ||
| S3 | 28.25 | -3.78% |
FAQ
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