Cornerstone Strategic Value Fund, Inc Stock Forecast
Cornerstone Strategic Value Fund, Inc stock price ended at $7.50 on Friday, after gaining 0.536%.
(Updated on May 03, 2024)
The Cornerstone Strategic Value Fund, Inc stock price gained 0.536% on the last trading day (Friday, 3rd May 2024), rising from $7.46 to $7.50. 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 1.47% from a day low at $7.47 to a day high of $7.58. The price has risen in 8 of the last 10 days and is up by 4.6% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 40 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $7.60 million.
The stock lies in the middle of a 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 3.05% during the next 3 months and, with a 90% probability hold a price between $7.40 and $8.06 at the end of this 3-month period.
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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 $7.39 and $7.42. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 5.19%. 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 is rising along with the price. This is considered to be a good technical signal. 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 $7.33 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 $0.110 between high and low, or 1.47%. For the last week, the stock has had daily average volatility of 1.52%.
Our recommended stop-loss: $7.14 (-4.83%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (CLM) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Cornerstone Strategic Value Fund, Inc to open at $7.52, and during the day (based on 14 day Average True Range), to move between $7.39 and $7.61, which gives a possible trading interval of +/-$0.111 (+/-1.48%) 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 2.96% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $7.55 (0.67%) than the support at $7.33 (2.27%), 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 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.
Current score: 0.970 Hold/Accumulate Unchanged
Predicted Opening Price for Cornerstone Strategic Value Fund, Inc of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $7.52 ( 0.222%) | $7.50 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 7.63 | 1.69 % | |
| R2 | 7.58 | 1.13 % | ||
| R1 | 7.56 | 0.782 % | ||
| Current price: | 7.50 | |||
| Support | S1 | 7.47 | -0.338 % | |
| S2 | 7.45 | -0.684 % | ||
| S3 | 7.41 | -1.24 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.72 | 2.93 % | |
| R2 | 7.68 | 2.40 % | ||
| R1 | 7.55 | 0.667 % | ||
| Current price | 7.50 | |||
| Support | S1 | 7.33 | -2.27% | |
| S2 | 7.27 | -3.07% | ||
| S3 | 7.21 | -3.87% |
CLM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 12, 2024 | Jun 14, 2024 | Jun 28, 2024 | $0.109 | 1.44% |
| 2 | Feb 12, 2024 | May 14, 2024 | May 31, 2024 | $0.109 | 1.44% |
| 3 | Feb 12, 2024 | Apr 12, 2024 | Apr 30, 2024 | $0.109 | 1.47% |
| 4 | Nov 03, 2023 | Mar 14, 2024 | Mar 29, 2024 | $0.109 | 1.44% |
| 5 | Nov 03, 2023 | Feb 14, 2024 | Feb 29, 2024 | $0.109 | 1.49% |
FAQ
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