CommVault Systems Stock Forecast
Green day on Tuesday for CommVault Systems
(Updated on Apr 23, 2024)
The CommVault Systems stock price gained 1.71% on the last trading day (Tuesday, 23rd Apr 2024), rising from $95.54 to $97.17. 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 2.07% from a day low at $95.51 to a day high of $97.49. The price has been going up and down for this period, and there has been a -0.27% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 25 thousand more shares were traded than the day before. In total, 171 thousand shares were bought and sold for approximately $16.59 million.
The stock lies in the middle of a wide and strong 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 11.18% during the next 3 months and, with a 90% probability hold a price between $99.88 and $115.97 at the end of this 3-month period.
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CVLT Signals & Forecast
There are mixed signals in the stock today. The CommVault Systems 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 $98.18. On a fall, the stock will find some support from the short-term average at $95.18. 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 Thursday, March 28, 2024, and so far it has fallen -4.20%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for CommVault Systems stock
CommVault Systems finds support from accumulated volume at $94.64 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.98 (2.07%) between high and low. For the last week, the stock has had daily average volatility of 1.94%.
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 Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect CommVault Systems to open at $96.72, and during the day (based on 14 day Average True Range), to move between $95.07 and $99.27, which gives a possible trading interval of +/-$2.10 (+/-2.16%) up or down from last closing price. If CommVault Systems takes out the full calculated possible swing range there will be an estimated 4.33% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $97.91 (0.76%) than the support at $94.64 (2.60%), 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
CommVault Systems will release earnings BMO on Tuesday, April 30, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.730. We will update the financials statements for CommVault Systems, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 8.40% in the first trading day after earnings release.
Is CommVault Systems stock A Buy?
CommVault Systems 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: -4.246 Sell Candidate Unchanged
Predicted Opening Price for CommVault Systems of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $96.72 ( 0.460%) | $97.17 |
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 | 98.70 | 1.58 % | |
| R2 | 97.95 | 0.800 % | ||
| R1 | 97.48 | 0.319 % | ||
| Current price: | 97.17 | |||
| Support | S1 | 95.97 | -1.24 % | |
| S2 | 95.50 | -1.72 % | ||
| S3 | 94.74 | -2.50 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 99.42 | 2.32 % | |
| R2 | 97.92 | 0.772 % | ||
| R1 | 97.91 | 0.762 % | ||
| Current price | 97.17 | |||
| Support | S1 | 94.64 | -2.60% | |
| S2 | 91.68 | -5.65% | ||
| S3 | 88.07 | -9.37% |
FAQ
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