Clover Health Investments Stock Forecast
Clover Health Investments stock price ended at $0.643 on Wednesday, after gaining 2.03%.
(Updated on May 01, 2024)
The Clover Health Investments stock price gained 2.03% on the last trading day (Wednesday, 1st May 2024), rising from $0.630 to $0.643. During the last trading day the stock fluctuated 4.78% from a day low at $0.625 to a day high of $0.655. The price has risen in 7 of the last 10 days and is up by 3.39% over the past 2 weeks. Volume fell on the last day by -2 million shares and in total, 2 million shares were bought and sold for approximately $1.44 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 middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -35.63% during the next 3 months and, with a 90% probability hold a price between $0.359 and $0.449 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 3.39%. 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). 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 $0.654 and $0.724. A break-up above any of these levels will issue buy signals. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Clover Health Investments stock
Clover Health Investments finds support from accumulated volume at $0.636 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 periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0299 between high and low, or 4.78%. For the last week the stock has had daily average volatility of 6.11%.
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 Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Clover Health Investments, Corp. to open at $0.641, and during the day (based on 14 day Average True Range), to move between $0.604 and $0.682, which gives a possible trading interval of +/-$0.0389 (+/-6.05%) 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 12.11% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.636 (1.03%) than the resistance at $0.725 (12.79%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Clover Health Investments will release earnings AMC on Tuesday, May 07, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.0700. We will update the financials statements for Clover Health Investments, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 9.97% in the first trading day after earnings release.
Is Clover Health Investments, Corp. stock A Buy?
Clover Health Investments holds several negative signals and is within a very 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.
Current score: -3.910 Sell Candidate Unchanged
Predicted Opening Price for Clover Health Investments, Corp. of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $0.641 ( 0.285%) | $0.643 |
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 | 0.671 | 4.37 % | |
| R2 | 0.659 | 2.59 % | ||
| R1 | 0.652 | 1.49 % | ||
| Current price: | 0.643 | |||
| Support | S1 | 0.630 | -2.06 % | |
| S2 | 0.622 | -3.16 % | ||
| S3 | 0.611 | -4.94 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.80 | 24.46 % | |
| R2 | 0.768 | 19.40 % | ||
| R1 | 0.725 | 12.79 % | ||
| Current price | 0.643 | |||
| Support | S1 | 0.636 | -1.03% | |
| S2 | 0.625 | -2.77% | ||
| S3 | 0.622 | -3.28% |
FAQ
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