CommVault Systems Stock Forecast
Red day on Wednesday for CommVault Systems
(Updated on Apr 17, 2024)
The CommVault Systems stock price fell by -1.05% on the last day (Wednesday, 17th Apr 2024) from $95.63 to $94.63. During the last trading day the stock fluctuated 2.24% from a day low at $94.53 to a day high of $96.65. The price has fallen in 7 of the last 10 days and is down by -5.21% for this period. Volume has increased on the last day by 54 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, 235 thousand shares were bought and sold for approximately $22.27 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $94.27 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 18.22% during the next 3 months and, with a 90% probability hold a price between $111.44 and $123.91 at the end of this 3-month period.
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CVLT Signals & Forecast
There are few to no technical positive signals at the moment. The CommVault Systems stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $96.13 and $98.32. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -6.70%. 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 CommVault Systems stock
CommVault Systems finds support from accumulated volume at $93.78 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 $2.12 between high and low, or 2.24%. For the last week the stock has had daily average volatility of 2.59%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CVLT) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect CommVault Systems to open at $95.27, and during the day (based on 14 day Average True Range), to move between $92.42 and $96.84, which gives a possible trading interval of +/-$2.21 (+/-2.33%) up or down from last closing price. If CommVault Systems takes out the full calculated possible swing range there will be an estimated 4.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $94.64 (0.01%) than the support at $93.78 (0.90%), 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 CommVault Systems stock A Buy?
The CommVault Systems stock holds several negative signals and despite the positive trend, we believe CommVault Systems will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.114 Sell Candidate Unchanged
Predicted Opening Price for CommVault Systems of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| $95.27 ( 0.676%) | $94.63 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CVLT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 97.39 | 2.92 % | |
| R2 | 96.58 | 2.06 % | ||
| R1 | 96.08 | 1.53 % | ||
| Current price: | 94.63 | |||
| Support | S1 | 94.46 | -0.179 % | |
| S2 | 93.96 | -0.708 % | ||
| S3 | 93.15 | -1.56 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 97.92 | 3.48 % | |
| R2 | 97.91 | 3.47 % | ||
| R1 | 94.64 | 0.0106 % | ||
| Current price | 94.63 | |||
| Support | S1 | 93.78 | -0.90% | |
| S2 | 91.68 | -3.12% | ||
| S3 | 88.07 | -6.93% |
FAQ
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