RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of CHGG
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Chegg Inc stock price ended at $7.58 on Wednesday, after gaining 2.85%.
(Updated on Mar 27, 2024)

Sell candidate since Mar 11, 2024 Loss -7.56% PDF

The Chegg Inc stock price gained 2.85% on the last trading day (Wednesday, 27th Mar 2024), rising from $7.37 to $7.58. During the last trading day the stock fluctuated 4.11% from a day low at $7.30 to a day high of $7.60. The price has fallen in 5 of the last 10 days and is down by -5.6% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 546 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $17.55 million.

The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -32.08% during the next 3 months and, with a 90% probability hold a price between $4.96 and $5.41 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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CHGG Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, March 26, 2024, and so far it has risen 2.85%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Chegg Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $7.73 and $8.39. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Chegg Inc stock

Chegg Inc finds support from accumulated volume at $7.49 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 $0.300 between high and low, or 4.11%. For the last week, the stock has had daily average volatility of 4.08%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (CHGG) For The Upcoming Trading Day Of Thursday 28th

For the upcoming trading day on Thursday, 28th we expect Chegg Inc to open at $7.49, and during the day (based on 14 day Average True Range), to move between $7.26 and $7.90, which gives a possible trading interval of +/-$0.315 (+/-4.16%) up or down from last closing price. If Chegg Inc takes out the full calculated possible swing range there will be an estimated 8.32% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $7.49 (1.19%) than the resistance at $8.60 (13.46%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Chegg Inc stock A Buy?

Chegg Inc holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

Current score: -2.296 Sell Candidate Unchanged

Predicted Opening Price for Chegg Inc of Thursday, March 28, 2024

Fair opening price March 28, 2024 Current price
$7.49 ( 1.14%) $7.58

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for CHGG

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 7.79 2.81 %
R2 7.68 1.30 %
R1 7.61 0.369 %
Current price: 7.58
Support S1 7.38 -2.66 %
S2 7.31 -3.59 %
S3 7.19 -5.10 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 9.30 22.69 %
R2 8.73 15.17 %
R1 8.60 13.46 %
Current price 7.58
Support S1 7.49 -1.19%
S2 7.37 -2.77%
S3 0 .

FAQ

What is the symbol for Chegg Inc Stock and on which exchange is it traded?
The symbol for Chegg Inc is CHGG and it is traded on the NYSE (New York Stock Exchange).

Should I buy or sell Chegg Inc Stock?
Chegg Inc holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

How to buy Chegg Inc Stock?
Chegg Inc Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Chegg Inc Stock.

What's the current price of Chegg Inc Stock?
As of the end of day on the 2024-03-27, the price of an Chegg Inc (CHGG) share was $7.58.

What is the 52-week high and low for Chegg Inc Stock?
The 52-week high for Chegg Inc Stock is $18.77 and the 52-week low is $7.30.

What is the market capitalization of Chegg Inc Stock?
As of the 2024-03-27, the market capitalization of Chegg Inc is 780.353M.

When is the next earnings date for Chegg Inc?
The upcoming earnings date for Chegg Inc is May 06, 2024.
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About Chegg Inc

Chegg Chegg, Inc. operates direct-to-student learning platform that supports students starting with their academic journey and extending into their careers with products and services to support and help them better understand their academic course materials. The company offers Chegg Services, which include subscription services; and required materials that comprise its print textbooks and eTextbooks. Its subscription services include Chegg Study, which... CHGG Profile

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