Confluent, Inc. Stock Forecast
Confluent, Inc. stock price ended at $28.89 on Thursday, after gaining 0.0346%.
(Updated on Apr 25, 2024)
The Confluent, Inc. stock price gained 0.0346% on the last trading day (Thursday, 25th Apr 2024), rising from $28.88 to $28.89. It has now gained 4 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 4.41% from a day low at $27.69 to a day high of $28.91. The price has been going up and down for this period, and there has been a -3.12% loss for the last 2 weeks. Volume fell on the last day by -241 thousand shares and in total, 3 million shares were bought and sold for approximately $72.68 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very wide and weak 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 3.57% during the next 3 months and, with a 90% probability hold a price between $24.36 and $36.52 at the end of this 3-month period.
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CFLT Signals & Forecast
Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Confluent, Inc. 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 $30.03. On a fall, the stock will find some support from the short-term average at $27.94. 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 Monday, March 04, 2024, and so far it has fallen -16.33%. 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).
Support, Risk & Stop-loss for Confluent, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $24.29 and $24.13. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Confluent, Inc. finds support just below today's level at $24.29. If this is broken, then the next support from accumulated volume will be at $24.13 and $23.48.
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 $1.22 between high and low, or 4.41%. For the last week, the stock has had daily average volatility of 4.20%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CFLT) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Confluent, Inc. to open at $28.50, and during the day (based on 14 day Average True Range), to move between $27.75 and $30.03, which gives a possible trading interval of +/-$1.14 (+/-3.93%) up or down from last closing price. If Confluent, Inc. takes out the full calculated possible swing range there will be an estimated 7.87% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $31.52 (9.10%) than the support at $24.29 (15.92%), 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 Confluent, Inc. stock A Buy?
The Confluent, Inc. stock holds several negative signals and despite the positive trend, we believe Confluent, Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.232 Sell Candidate Unchanged
Predicted Opening Price for Confluent, Inc. of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $28.50 ( 1.36%) | $28.89 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CFLT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 29.72 | 2.86 % | |
| R2 | 29.25 | 1.25 % | ||
| R1 | 28.96 | 0.252 % | ||
| Current price: | 28.89 | |||
| Support | S1 | 28.03 | -2.97 % | |
| S2 | 27.74 | -3.97 % | ||
| S3 | 27.28 | -5.58 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 32.57 | 12.74 % | |
| R2 | 31.72 | 9.80 % | ||
| R1 | 31.52 | 9.10 % | ||
| Current price | 28.89 | |||
| Support | S1 | 24.29 | -15.92% | |
| S2 | 24.13 | -16.48% | ||
| S3 | 23.48 | -18.73% |
FAQ
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