Credit Clear Limited Stock Forecast
Credit Clear Limited stock price ended at $0.260 on Friday, after losing 1.89%.
(Updated on Jun 28, 2024)
The Credit Clear Limited stock price fell by -1.89% on the last day (Friday, 28th Jun 2024) from $0.265 to $0.260. During the last trading day the stock fluctuated 3.92% from a day low at $0.255 to a day high of $0.265. The price has risen in 5 of the last 10 days and is up by 8.33% over the past 2 weeks. Volume has increased on the last day by 64 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 161 thousand shares were bought and sold for approximately $41.76 thousand.
The stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $0.266 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Credit Clear Limited stock with a 90% probability to be traded between $0.233 and $0.268 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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CCR.AX Signals & Forecast
The Credit Clear Limited 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 $0.260 and $0.249. 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, June 27, 2024, and so far it has fallen -1.89%. Further fall is indicated until a new bottom pivot has been found. Credit Clear Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
A sell signal from a double top formation was found on Thursday, June 27, 2024 and based on theory for this formation the price should fall by -14.23% to $0.223 within 20 trading days since signal was issued (Thursday, July 25, 2024).
Support, Risk & Stop-loss for Credit Clear Limited stock
Credit Clear Limited finds support from accumulated volume at $0.250 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0100 between high and low, or 3.92%. For the last week, the stock has had daily average volatility of 3.98%.
Our recommended stop-loss: $0.252 (-3.23%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (CCR.AX) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Credit Clear Limited to open at $0.260, and during the day (based on 14 day Average True Range), to move between $0.251 and $0.269, which gives a possible trading interval of +/-$0.0093 (+/-3.59%) up or down from last closing price. If Credit Clear Limited takes out the full calculated possible swing range there will be an estimated 7.17% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.265 (1.92%) than the support at $0.250 (3.85%), 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 Credit Clear Limited stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Credit Clear Limited stock to perform well in the short-term period.
Current score: 2.039 Buy Candidate Unchanged
Predicted Opening Price for Credit Clear Limited of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $0.260 ( 0%) | $0.260 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CCR.AX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.270 | 3.85% |
| R2 | 0.266 | 2.38% |
| R1 | 0.264 | 1.47% |
| Price | 0.260 | |
| S1 | 0.256 | -1.47% |
| S2 | 0.254 | -2.38% |
| S3 | 0.250 | -3.85% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0.270 | 3.85% |
| R1 | 0.265 | 1.92% |
| Price | 0.260 | |
| S1 | 0.250 | -3.85% |
| S2 | 0.240 | -7.69% |
| S3 | 0.235 | -9.62% |
FAQ
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