CareCloud, Inc. Stock Forecast
Volatile ride for CareCloud, Inc. stock price on Friday moving between $1.18 and $1.38
(Updated on May 10, 2024)
The CareCloud, Inc. stock price fell by -3.82% on the last day (Friday, 10th May 2024) from $1.31 to $1.26. During the last trading day the stock fluctuated 16.95% from a day low at $1.18 to a day high of $1.38. The price has risen in 5 of the last 10 days and is up by 16.66% 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 -997 thousand shares and in total, 84 thousand shares were bought and sold for approximately $106.10 thousand.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $1.30 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -21.19% during the next 3 months and, with a 90% probability hold a price between $0.81 and $1.03 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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CCLD Signals & Forecast
The CareCloud, Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $1.14 and $1.15. A breakdown below any of these levels will issue sell signals. 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 Thursday, May 09, 2024, and so far it has fallen -3.82%. 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.
Support, Risk & Stop-loss for CareCloud, Inc. stock
CareCloud, Inc. finds support from accumulated volume at $1.21 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.200 between high and low, or 16.95%. For the last week the stock has had daily average volatility of 14.19%.
Our recommended stop-loss: $1.19 (-5.19%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (CCLD) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect CareCloud, Inc. to open at $1.27, and during the day (based on 14 day Average True Range), to move between $1.16 and $1.36, which gives a possible trading interval of +/-$0.102 (+/-8.06%) up or down from last closing price. If CareCloud, Inc. takes out the full calculated possible swing range there will be an estimated 16.11% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.31 (3.97%) than the support at $1.21 (3.97%), 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
CareCloud, Inc. will release earnings BMO on Tuesday, May 14, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.320. We will update the financials statements for CareCloud, Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 12.69% in the first trading day after earnings release.
Is CareCloud, Inc. stock A Buy?
CareCloud, Inc. 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: -0.902 Hold/Accumulate Unchanged
Predicted Opening Price for CareCloud, Inc. of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| $1.27 ( 1.06%) | $1.26 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CCLD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.47 | 16.93 % | |
| R2 | 1.40 | 10.87 % | ||
| R1 | 1.35 | 7.12 % | ||
| Current price: | 1.26 | |||
| Support | S1 | 1.20 | -5.01 % | |
| S2 | 1.15 | -8.75 % | ||
| S3 | 1.07 | -14.81 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.53 | 21.43 % | |
| R2 | 1.35 | 7.14 % | ||
| R1 | 1.31 | 3.97 % | ||
| Current price | 1.26 | |||
| Support | S1 | 1.21 | -3.97% | |
| S2 | 1.19 | -5.56% | ||
| S3 | 1.11 | -11.90% |
FAQ
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