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High volatility in Clover Health Investments, Corp. stock price on Thursday which ended trading at $14.34

StockInvest.us, 4 months ago


The Clover Health Investments, Corp. stock price fell by -15.25% on the last day (Thursday, 10th Jun 2021) from $16.92 to $14.34. and has now fallen 3 days in a row. During the day the stock fluctuated 30.19% from a day low at $13.91 to a day high of $18.11. The price has risen in 7 of the last 10 days and is up by 95.63% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -210 million shares and in total, 154 million shares were bought and sold for approximately $2.21 billion.

Credit Suisse Group does not see either upside or downside right now giving CLOV "Neutral" on their last update on May 25, 2021. The price target was changed from $10.00 to $9.00.Over the last 30 days, this security got 2 buy, 0 sell, and 4 hold ratings.

The stock lies in the middle of a very 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 12.17% during the next 3 months and, with a 90% probability hold a price between $8.28 and $24.93 at the end of this 3-month period.

Clover Health Investments, Corp.

The Clover Health Investments, Corp. 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 $13.14 and $9.15. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 months 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, June 08, 2021, and so far it has fallen -35.26%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

On the downside, the stock finds support just below today's level from accumulated volume at $11.92.With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $0 may give a huge drop in the stock price.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $4.20 between high and low, or 30.19%. For the last week, the stock has had a daily average volatility of 37.74%.

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Clover Health Investments, Corp. stock to perform well in the short-term.

Check full Clover Health Investments, Corp. forecast and analysis here.