0% commission for ETF tradesClearfield Stock Forecast
AI Analysis of CLFD
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Green day on Thursday for Clearfield stock after gaining 1.95%
(Updated on Sep 12, 2024)
The Clearfield stock price gained 1.95% on the last trading day (Thursday, 12th Sep 2024), rising from $37.52 to $38.25. During the last trading day the stock fluctuated 2.44% from a day low at $37.49 to a day high of $38.41. The price has risen in 7 of the last 10 days and is up by 5.49% over the past 2 weeks. Volume fell on the last day by -19 thousand shares and in total, 66 thousand shares were bought and sold for approximately $2.53 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 wide and 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 -3.11% during the next 3 months and, with a 90% probability hold a price between $34.01 and $41.41 at the end of this 3-month period.
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CLFD Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, September 03, 2024, and so far it has risen 5.55%. 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 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 Clearfield 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 $38.57. On a fall, the stock will find some support from the short-term average at $37.48. 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.
Support, Risk & Stop-loss for Clearfield stock
Clearfield finds support from accumulated volume at $37.71 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 $0.91 (2.44%) between high and low. For the last week, the stock has had daily average volatility of 4.02%.
Our recommended stop-loss: $36.62 (-4.25%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 30 days ago.)
Trading Expectations (CLFD) For The Upcoming Trading Day Of Friday 13th
For the upcoming trading day on Friday, 13th we expect Clearfield to open at $38.05, and during the day (based on 14 day Average True Range), to move between $36.84 and $39.66, which gives a possible trading interval of +/-$1.41 (+/-3.69%) up or down from last closing price. If Clearfield takes out the full calculated possible swing range there will be an estimated 7.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $38.56 (0.81%) than the support at $37.71 (1.41%), 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 Clearfield stock A Buy?
Clearfield 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.
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Current score: -0.243 Hold/Accumulate Unchanged
Predicted Opening Price for Clearfield of Friday, September 13, 2024
| Fair opening price September 13, 2024 | Current price |
|---|---|
| $38.05 ( 0.527%) | $38.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CLFD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 38.96 | 1.86% |
| R2 | 38.61 | 0.95% |
| R1 | 38.40 | 0.387% |
| Price | 38.25 | |
| S1 | 37.70 | -1.44% |
| S2 | 37.48 | -2.01% |
| S3 | 37.13 | -2.92% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 42.17 | 10.25% |
| R2 | 39.02 | 2.01% |
| R1 | 38.56 | 0.81% |
| Price | 38.25 | |
| S1 | 37.71 | -1.41% |
| S2 | 37.53 | -1.88% |
| S3 | 37.52 | -1.91% |
FAQ
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