Cornerstone Strategic Value Fund, Inc Stock Forecast
Green day on Tuesday for Cornerstone Strategic Value Fund, Inc
(Updated on Jun 25, 2024)
The Cornerstone Strategic Value Fund, Inc stock price gained 0.526% on the last trading day (Tuesday, 25th Jun 2024), rising from $7.60 to $7.64. It has now gained 3 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 0.791% from a day low at $7.59 to a day high of $7.65. The price has risen in 6 of the last 10 days but is still down by -0.39% for this period. Volume fell on the last day by -175 thousand shares and in total, 734 thousand shares were bought and sold for approximately $5.61 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 is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Cornerstone Strategic Value Fund, Inc stock with a 90% probability to be traded between $7.39 and $8.04 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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CLM Signals & Forecast
The Cornerstone Strategic Value Fund, Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $7.55 and $7.57. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Tuesday, June 11, 2024, and so far it has fallen -0.521%. 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). The stock had a Golden Star Signal on Friday, February 23, 2024 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Friday, February 23, 2024 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Cornerstone Strategic Value Fund, Inc stock
Cornerstone Strategic Value Fund, Inc finds support from accumulated volume at $7.60 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.0600 between high and low, or 0.791%. For the last week the stock has had daily average volatility of 0.83%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CLM) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Cornerstone Strategic Value Fund, Inc to open at $7.63, and during the day (based on 14 day Average True Range), to move between $7.56 and $7.72, which gives a possible trading interval of +/-$0.0766 (+/-1.00%) up or down from last closing price. If Cornerstone Strategic Value Fund, Inc takes out the full calculated possible swing range there will be an estimated 2.01% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $7.67 (0.39%) than the support at $7.60 (0.52%), 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 Cornerstone Strategic Value Fund, Inc stock A Buy?
Cornerstone Strategic Value Fund, 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: -1.593 Sell Candidate Unchanged
Predicted Opening Price for Cornerstone Strategic Value Fund, Inc of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $7.63 ( 0.175%) | $7.64 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CLM
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.69 | 0.611% |
| R2 | 7.66 | 0.311% |
| R1 | 7.65 | 0.125% |
| Price | 7.64 | |
| S1 | 7.60 | -0.475% |
| S2 | 7.59 | -0.660% |
| S3 | 7.57 | -0.96% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.72 | 1.05% |
| R2 | 7.68 | 0.524% |
| R1 | 7.67 | 0.393% |
| Price | 7.64 | |
| S1 | 7.60 | -0.524% |
| S2 | 7.56 | -1.05% |
| S3 | 7.52 | -1.57% |
CLM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 16, 2024 | Sep 16, 2024 | Sep 30, 2024 | $0.109 | 1.42% |
| 2 | Aug 15, 2024 | Aug 15, 2024 | Aug 30, 2024 | $0.109 | 1.42% |
| 3 | Jul 15, 2024 | Jul 15, 2024 | Jul 31, 2024 | $0.109 | 1.42% |
| 4 | Feb 12, 2024 | Jun 14, 2024 | Jun 28, 2024 | $0.109 | 1.42% |
| 5 | Feb 12, 2024 | May 14, 2024 | May 31, 2024 | $0.109 | 1.43% |
FAQ
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