Clover Health Investments Stock Forecast
Clover Health Investments stock upgraded to Sell Candidate.
(Updated on Apr 18, 2024)
The Clover Health Investments stock price gained 1.51% on the last trading day (Thursday, 18th Apr 2024), rising from $0.622 to $0.631. During the last trading day the stock fluctuated 4.63% from a day low at $0.620 to a day high of $0.649. The price has fallen in 7 of the last 10 days and is down by -16.41% for this period. Volume fell on the last day by -3 million shares and in total, 3 million shares were bought and sold for approximately $1.80 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.616 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -31.67% during the next 3 months and, with a 90% probability hold a price between $0.421 and $0.524 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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CLOV Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 1.51%. Further rise is indicated until a new top pivot has been found. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Clover Health Investments stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.661 and $0.767. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Clover Health Investments stock
Clover Health Investments finds support from accumulated volume at $0.625 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0287 between high and low, or 4.63%. For the last week, the stock has had daily average volatility of 6.44%.
Clover Health Investments is oversold on RSI14 (16). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CLOV) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Clover Health Investments, Corp. to open at $0.633, and during the day (based on 14 day Average True Range), to move between $0.590 and $0.672, which gives a possible trading interval of +/-$0.0406 (+/-6.44%) up or down from last closing price. If Clover Health Investments, Corp. takes out the full calculated possible swing range there will be an estimated 12.88% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.625 (0.97%) than the resistance at $0.725 (14.88%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Clover Health Investments, Corp. stock A Buy?
Clover Health Investments holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -4.770 Sell Candidate Upgraded
Predicted Opening Price for Clover Health Investments, Corp. of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $0.633 ( 0.354%) | $0.631 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CLOV
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.662 | 4.90 % | |
| R2 | 0.651 | 3.16 % | ||
| R1 | 0.644 | 2.09 % | ||
| Current price: | 0.631 | |||
| Support | S1 | 0.622 | -1.38 % | |
| S2 | 0.616 | -2.46 % | ||
| S3 | 0.605 | -4.19 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.789 | 24.94 % | |
| R2 | 0.768 | 21.61 % | ||
| R1 | 0.725 | 14.88 % | ||
| Current price | 0.631 | |||
| Support | S1 | 0.625 | -0.97% | |
| S2 | 0.622 | -1.49% | ||
| S3 | 0 | . |
FAQ
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