Clover Leaf Capital Corp. Stock Forecast
Is Clover Leaf Capital Corp. stock still a buy after falling -7.46% on Thursday?
(Updated on Jun 27, 2024)
The Clover Leaf Capital Corp. stock price fell by -7.46% on the last day (Thursday, 27th Jun 2024) from $0.240 to $0.222. During the last trading day the stock fluctuated 0.91% from a day low at $0.220 to a day high of $0.222. The price has been going up and down for this period, and there has been a 58.57% gain for the last 2 weeks. Volume has increased on the last day by 2 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, 2 thousand shares were bought and sold for approximately $355.20 .
The stock lies in the middle of a very wide and strong 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 61.04% during the next 3 months and, with a 90% probability hold a price between $0.272 and $0.391 at the end of this 3-month period.
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CLOER Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, June 26, 2024, and so far it has fallen -7.46%. Further fall is indicated until a new bottom pivot has been found. 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 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 $0.237. On a fall, the stock will find some support from the long-term average at approximately $0.168. 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. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Clover Leaf Capital Corp. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.190 and $0.190. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Clover Leaf Capital Corp. finds support just below today's level at $0.190. If this is broken, then the next support from accumulated volume will be at $0.190 and $0.171.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0020 between high and low, or 0.91%. For the last week, the stock has had daily average volatility of 0.182%.
The Clover Leaf Capital Corp. stock is extremely overbought on RSI14 (85). This increases the short-term risk substantially.
Our recommended stop-loss: $0.212 (-4.30%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 85 and this increases the risk substantially. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (CLOER) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Clover Leaf Capital Corp. to open at $0.221, and during the day (based on 14 day Average True Range), to move between $0.202 and $0.242, which gives a possible trading interval of +/-$0.0205 (+/-9.23%) 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 18.46% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.240 (8.02%) than the support at $0.190 (14.41%), 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 Clover Leaf Capital Corp. stock A Buy?
Clover Leaf Capital Corp. 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: 0.000 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 Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| $0.221 ( 0.300%) | $0.222 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CLOER
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.223 | 0.601% |
| R2 | 0.223 | 0.256% |
| R1 | 0.222 | 0.0438% |
| Price | 0.222 | |
| S1 | 0.221 | -0.644% |
| S2 | 0.220 | -0.86% |
| S3 | 0.219 | -1.20% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0.240 | 8.06% |
| R1 | 0.240 | 8.02% |
| Price | 0.222 | |
| S1 | 0.190 | -14.41% |
| S2 | 0.190 | -14.46% |
| S3 | 0.171 | -22.88% |
CLOER Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 15, 2022 | Mar 15, 2022 | Mar 15, 2022 | $0.285 | 92.53% |
FAQ
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