Cloudberry Clean Energy AS Stock Forecast

Green day on Friday for Cloudberry Clean Energy AS stock after gaining 1.18%
(Updated on Jun 28, 2024)

CLOUD.OL Signals & Forecast

Mostly positive signals in the chart today. 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 kr11.48 and kr10.16. 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 37.46%. 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 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.

Support, Risk & Stop-loss for Cloudberry Clean Energy AS stock

Cloudberry Clean Energy AS finds support from accumulated volume at kr11.86 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 kr0.480 between high and low, or 4.15%. For the last week, the stock has had daily average volatility of 4.06%.

Since the Cloudberry Clean Energy AS has been rising for 7 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

Our recommended stop-loss: kr11.64 (-2.96%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 77 and this increases the risk substantially. There is a buy signal from a pivot bottom found 78 days ago.)

Trading Expectations (CLOUD.OL) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Cloudberry Clean Energy AS to open at kr11.87, and during the day (based on 14 day Average True Range), to move between kr11.61 and kr12.39, which gives a possible trading interval of +/-kr0.389 (+/-3.24%) 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 6.48% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ kr11.86, some kr0.140 (1.17%) from the current price of kr12.00, 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.

Current score: 6.931 Strong Buy Candidate Unchanged

Predicted Opening Price for Cloudberry Clean Energy AS of Monday, July 1, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.