CEVA Stock Forecast
CEVA stock price ended at $19.69 on Wednesday, after gaining 1.97%.
(Updated on Apr 24, 2024)
The CEVA stock price gained 1.97% on the last trading day (Wednesday, 24th Apr 2024), rising from $19.31 to $19.69. 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 3.65% from a day low at $19.18 to a day high of $19.88. The price has fallen in 6 of the last 10 days and is down by -9.8% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 thousand more shares were traded than the day before. In total, 98 thousand shares were bought and sold for approximately $1.93 million.
The stock is at the lower part of a very wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $18.68 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect CEVA stock with a 90% probability to be traded between $18.94 and $25.42 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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CEVA Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 5.52%. Further rise is indicated until a new top pivot has been found. 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. The CEVA 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 $22.18. On a fall, the stock will find some support from the short-term average at $19.38. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for CEVA stock
CEVA finds support from accumulated volume at $19.59 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.700 between high and low, or 3.65%. For the last week, the stock has had daily average volatility of 3.45%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CEVA) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect CEVA to open at $19.58, and during the day (based on 14 day Average True Range), to move between $18.89 and $20.49, which gives a possible trading interval of +/-$0.80 (+/-4.09%) up or down from last closing price. If CEVA takes out the full calculated possible swing range there will be an estimated 8.18% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $19.59 (0.51%) than the resistance at $23.17 (17.67%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is CEVA stock A Buy?
CEVA holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.263 Sell Candidate Unchanged
Predicted Opening Price for CEVA of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $19.58 ( 0.542%) | $19.69 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CEVA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 20.28 | 3.01 % | |
| R2 | 20.02 | 1.66 % | ||
| R1 | 19.85 | 0.82 % | ||
| Current price: | 19.69 | |||
| Support | S1 | 19.32 | -1.90 % | |
| S2 | 19.15 | -2.74 % | ||
| S3 | 18.88 | -4.10 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24.51 | 24.48 % | |
| R2 | 24.31 | 23.46 % | ||
| R1 | 23.17 | 17.67 % | ||
| Current price | 19.69 | |||
| Support | S1 | 19.59 | -0.508% | |
| S2 | 19.21 | -2.44% | ||
| S3 | 19.20 | -2.49% |
FAQ
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