Clarke Inc. Stock Forecast

Weaker technical forecast for Clarke Inc. as stock downgraded to Hold/Accumulate.
(Updated on May 17, 2024)

CKI.TO Signals & Forecast

There are few to no technical positive signals at the moment. The Clarke 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 $19.43 and $19.47. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 06, 2024, and so far it has fallen -10.90%. 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). Clarke Inc. 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.

Support, Risk & Stop-loss for Clarke Inc. stock

Clarke Inc. finds support from accumulated volume at $18.75 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 between high and low, or 0%. For the last week, the stock has had daily average volatility of 1.46%.

Our recommended stop-loss: $17.83 (-5.18%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 9 days ago.)

Trading Expectations (CKI.TO) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect Clarke Inc. to open at $18.80, and during the day (based on 14 day Average True Range), to move between $18.46 and $19.14, which gives a possible trading interval of +/-$0.343 (+/-1.83%) up or down from last closing price. If Clarke Inc. takes out the full calculated possible swing range there will be an estimated 3.65% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $18.75 (0.27%) than the resistance at $19.50 (3.72%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Clarke Inc. stock A Buy?

Clarke Inc. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Downgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Clarke Inc. of Tuesday, May 21, 2024

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