Clover Leaf Capital Corp. Stock Forecast
Clover Leaf Capital Corp. stock price down 1.52% on Wednesday
(Updated on Jun 26, 2024)
The Clover Leaf Capital Corp. stock price fell by -1.52% on the last day (Wednesday, 26th Jun 2024) from $12.47 to $12.28. During the last trading day the stock fluctuated 0.99% from a day low at $12.16 to a day high of $12.28. The price has been going up and down for this period, and there has been a -0.97% loss for the last 2 weeks. Volume has increased on the last day by 6 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 6 thousand shares were bought and sold for approximately $67.64 thousand.
The stock lies in the lower part of a narrow and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $12.25 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 4.71% during the next 3 months and, with a 90% probability hold a price between $12.82 and $13.34 at the end of this 3-month period.
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CLOE Signals & Forecast
The Clover Leaf Capital Corp. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $12.43. On a fall, the stock will find some support from the long-term average at approximately $12.25. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Thursday, June 13, 2024, and so far it has fallen -1.60%. 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). Clover Leaf Capital Corp. 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. The stock had a Golden Star Signal on Thursday, September 28, 2023 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 Thursday, September 28, 2023 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.
A sell signal from a double top formation was found on Thursday, June 13, 2024 and based on theory for this formation the price should fall by -2.93% to $11.92 within 9 trading days since signal was issued (Thursday, June 27, 2024).
Support, Risk & Stop-loss for Clover Leaf Capital Corp. stock
Clover Leaf Capital Corp. finds support from accumulated volume at $12.27 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 $0.120 between high and low, or 0.99%. For the last week the stock has had daily average volatility of 0.197%.
Our recommended stop-loss: $11.85 (-3.52%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (CLOE) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Clover Leaf Capital Corp. to open at $12.24, and during the day (based on 14 day Average True Range), to move between $12.12 and $12.44, which gives a possible trading interval of +/-$0.161 (+/-1.31%) up or down from last closing price. If Clover Leaf Capital Corp. takes out the full calculated possible swing range there will be an estimated 2.62% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $12.29 (0.08%) than the support at $12.27 (0.08%), 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 Clover Leaf Capital Corp. stock A Buy?
Clover Leaf Capital Corp. 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.
Current score: 0.000 Hold/Accumulate Unchanged
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 Clover Leaf Capital Corp. of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| $12.24 ( 0.326%) | $12.28 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CLOE
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 12.36 | 0.651% |
| R2 | 12.31 | 0.278% |
| R1 | 12.29 | 0.0476% |
| Price | 12.28 | |
| S1 | 12.19 | -0.699% |
| S2 | 12.17 | -0.93% |
| S3 | 12.12 | -1.30% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 12.47 | 1.55% |
| R2 | 12.39 | 0.90% |
| R1 | 12.29 | 0.0814% |
| Price | 12.28 | |
| S1 | 12.27 | -0.0814% |
| S2 | 12.10 | -1.47% |
| S3 | 12.00 | -2.28% |
FAQ
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