Charles & Colvard Ltd Stock Forecast
Charles & Colvard Ltd stock price up 4.05% on Tuesday
(Updated on Apr 23, 2024)
The Charles & Colvard Ltd stock price gained 4.05% on the last trading day (Tuesday, 23rd Apr 2024), rising from $0.370 to $0.385. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 4.53% from a day low at $0.373 to a day high of $0.390. The price has risen in 6 of the last 10 days and is up by 21.76% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 22 thousand more shares were traded than the day before. In total, 72 thousand shares were bought and sold for approximately $27.68 thousand.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $0.367, a level that may pose a second chance to hit a runner. According to fan-theory $0.475 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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CTHR Signals & Forecast
Mostly positive signals in the chart today. The Charles & Colvard Ltd 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 $0.348 and $0.344. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 12, 2024, and so far it has risen 28.33%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Charles & Colvard Ltd has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Charles & Colvard Ltd stock
Charles & Colvard Ltd finds support from accumulated volume at $0.377 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 $0.0169 between high and low, or 4.53%. For the last week, the stock has had daily average volatility of 7.95%.
Our recommended stop-loss: $0.371 (-3.58%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (CTHR) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Charles & Colvard Ltd to open at $0.383, and during the day (based on 14 day Average True Range), to move between $0.358 and $0.412, which gives a possible trading interval of +/-$0.0269 (+/-6.97%) up or down from last closing price. If Charles & Colvard Ltd takes out the full calculated possible swing range there will be an estimated 13.95% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.390 (1.32%) than the support at $0.377 (2.10%), 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 Charles & Colvard Ltd stock A Buy?
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period.
Current score: 3.317 Buy Candidate Unchanged
Predicted Opening Price for Charles & Colvard Ltd of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $0.383 ( 0.615%) | $0.385 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CTHR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.400 | 3.77 % | |
| R2 | 0.393 | 2.10 % | ||
| R1 | 0.389 | 1.06 % | ||
| Current price: | 0.385 | |||
| Support | S1 | 0.376 | -2.29 % | |
| S2 | 0.372 | -3.33 % | ||
| S3 | 0.366 | -5.00 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.449 | 16.62 % | |
| R2 | 0.418 | 8.47 % | ||
| R1 | 0.390 | 1.32 % | ||
| Current price | 0.385 | |||
| Support | S1 | 0.377 | -2.10% | |
| S2 | 0.359 | -6.75% | ||
| S3 | 0.352 | -8.70% |
CTHR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 24, 2007 | May 29, 2007 | Jun 15, 2007 | $0.0800 | 1.66% |
| 2 | Apr 18, 2006 | May 26, 2006 | Jun 15, 2006 | $0.0800 | 0.773% |
| 3 | May 25, 2005 | Jun 28, 2005 | Jul 15, 2005 | $0.0400 | 0.193% |
FAQ
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