Clear Channel Outdoor Holdings Inc Stock Forecast
On Tuesday, Clear Channel Outdoor Holdings Inc stock price gained an impressive 9.09%
(Updated on Jul 02, 2024)
The Clear Channel Outdoor Holdings Inc stock price gained 9.09% on the last trading day (Tuesday, 2nd Jul 2024), rising from $1.43 to $1.56. It has now gained 5 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 8.28% from a day low at $1.45 to a day high of $1.57. The price has risen in 5 of the last 10 days and is up by 13.04% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $3.35 million.
The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $1.49, a level that may pose a second chance to hit a runner. According to fan-theory $1.74 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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CCO Signals & Forecast
The Clear Channel Outdoor Holdings 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 $1.39 and $1.43. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 25, 2024, and so far it has risen 18.18%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy 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 Clear Channel Outdoor Holdings Inc stock
Clear Channel Outdoor Holdings Inc finds support from accumulated volume at $1.54 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 $0.120 (8.28%) between high and low. For the last week, the stock has had daily average volatility of 5.02%.
Our recommended stop-loss: $1.51 (-3.52%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 36 days ago.)
Trading Expectations (CCO) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Clear Channel Outdoor Holdings Inc to open at $1.53, and during the day (based on 14 day Average True Range), to move between $1.50 and $1.62, which gives a possible trading interval of +/-$0.0627 (+/-4.02%) up or down from last closing price. If Clear Channel Outdoor Holdings Inc takes out the full calculated possible swing range there will be an estimated 8.03% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.57 (0.64%) than the support at $1.54 (1.28%), 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.
Is Clear Channel Outdoor Holdings Inc stock A Buy?
Clear Channel Outdoor Holdings 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: 0.941 Hold/Accumulate Unchanged
Predicted Opening Price for Clear Channel Outdoor Holdings Inc of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $1.53 ( 2.14%) | $1.56 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CCO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.65 | 5.56% |
| R2 | 1.60 | 2.62% |
| R1 | 1.57 | 0.80% |
| Price | 1.56 | |
| S1 | 1.48 | -5.08% |
| S2 | 1.45 | -6.89% |
| S3 | 1.41 | -9.83% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.68 | 7.69% |
| R2 | 1.61 | 3.21% |
| R1 | 1.57 | 0.641% |
| Price | 1.56 | |
| S1 | 1.54 | -1.28% |
| S2 | 1.44 | -7.69% |
| S3 | 1.37 | -12.18% |
CCO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 08, 2018 | Jan 25, 2018 | Jan 24, 2018 | $0.0820 | 1.71% |
| 2 | Oct 12, 2017 | Nov 01, 2017 | Oct 31, 2017 | $0.0690 | 1.82% |
| 3 | Sep 18, 2017 | Oct 06, 2017 | Oct 05, 2017 | $0.0690 | 1.44% |
| 4 | Feb 10, 2017 | Feb 24, 2017 | Feb 23, 2017 | $0.780 | 14.86% |
| 5 | Jan 21, 2016 | Feb 05, 2016 | Feb 04, 2016 | $1.49 | 27.16% |
FAQ
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