Charles & Colvard Ltd Stock Forecast

A very red day for Charles & Colvard Ltd stock price after a -5.01% fall in the Thursday trading session
(Updated on Apr 25, 2024)

CTHR Signals & Forecast

The Charles & Colvard Ltd stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $0.362. On a fall, the stock will find some support from the long-term average at approximately $0.344. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, April 23, 2024, and so far it has fallen -6.49%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. 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 $0.359 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 periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0196 between high and low, or 5.44%. For the last week the stock has had daily average volatility of 7.54%.

Our recommended stop-loss: $0.339 (-5.72%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (CTHR) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect Charles & Colvard Ltd to open at $0.367, and during the day (based on 14 day Average True Range), to move between $0.334 and $0.386, which gives a possible trading interval of +/-$0.0263 (+/-7.31%) up or down from last closing price. If Charles & Colvard Ltd takes out the full calculated possible swing range there will be an estimated 14.61% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.359 (0.28%) than the resistance at $0.377 (4.69%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Charles & Colvard Ltd stock A Buy?

Charles & Colvard Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.143 Hold/Accumulate Unchanged

Predicted Opening Price for Charles & Colvard Ltd of Friday, April 26, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.