Cloudberry Clean Energy AS Stock Forecast
Cloudberry Clean Energy AS stock upgraded from Hold/Accumulate to Strong Buy Candidate after Tuesday trading session.
(Updated on Jun 25, 2024)
The Cloudberry Clean Energy AS stock price gained 3.72% on the last trading day (Tuesday, 25th Jun 2024), rising from kr11.28 to kr11.70. It has now gained 4 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 5.60% from a day low at kr11.08 to a day high of kr11.70. The price has risen in 6 of the last 10 days and is up by 11.64% 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, 86 thousand more shares were traded than the day before. In total, 527 thousand shares were bought and sold for approximately kr6.16 million.
The stock lies in the upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at kr11.78 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 18.82% during the next 3 months and, with a 90% probability hold a price between kr12.24 and kr14.00 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
CLOUD.OL Signals & Forecast
The Cloudberry Clean Energy AS stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at kr10.94 and kr9.91. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 11, 2024, and so far it has risen 34.02%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Cloudberry Clean Energy AS stock
On the downside, the stock finds support just below today's level from accumulated volume at kr11.08 and kr10.46. 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, Cloudberry Clean Energy AS finds support just below today's level at kr11.08. If this is broken, then the next support from accumulated volume will be at kr10.46 and kr9.40.
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 kr0.620 between high and low, or 5.60%. For the last week, the stock has had daily average volatility of 5.14%.
The Cloudberry Clean Energy AS stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: kr11.30 (-3.44%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 78 and this increases the risk substantially. There is a buy signal from a pivot bottom found 75 days ago.)
Trading Expectations (CLOUD.OL) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Cloudberry Clean Energy AS to open at kr11.49, and during the day (based on 14 day Average True Range), to move between kr11.31 and kr12.09, which gives a possible trading interval of +/-kr0.395 (+/-3.37%) up or down from last closing price. If Cloudberry Clean Energy AS takes out the full calculated possible swing range there will be an estimated 6.75% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ kr11.08, some kr0.620 (5.30%) from the current price of kr11.70, our system finds the risk reward attractive.
Is Cloudberry Clean Energy AS stock A Buy?
Cloudberry Clean Energy AS holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.
Current score: 7.503 Strong Buy Candidate Upgraded
Predicted Opening Price for Cloudberry Clean Energy AS of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| kr11.49 ( 1.77%) | kr11.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CLOUD.OL
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 12.11 | 3.53% |
| R2 | 11.88 | 1.51% |
| R1 | 11.73 | 0.258% |
| Price | 11.70 | |
| S1 | 11.26 | -3.79% |
| S2 | 11.11 | -5.04% |
| S3 | 10.87 | -7.07% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 11.70 | |
| S1 | 11.08 | -5.30% |
| S2 | 10.46 | -10.60% |
| S3 | 9.40 | -19.66% |
FAQ
Click here for our free guide on how to buy Cloudberry Clean Energy AS Stock.
