CLPS Inc. Stock Forecast
Red day on Tuesday for CLPS Inc.
(Updated on Jul 02, 2024)
The CLPS Inc. stock price fell by -2.25% on the last day (Tuesday, 2nd Jul 2024) from $0.89 to $0.87. During the last trading day the stock fluctuated 3.44% from a day low at $0.87 to a day high of $0.90. The price has fallen in 6 of the last 10 days and is down by -8.41% for this period. Volume has increased on the last day by 4 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, 6 thousand shares were bought and sold for approximately $5.34 thousand.
The stock lies in the middle of a 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 -10.74% during the next 3 months and, with a 90% probability hold a price between $0.742 and $0.83 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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CLPS Signals & Forecast
There are few to no technical positive signals at the moment. The CLPS Inc. 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 $0.90 and $0.93. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, June 14, 2024, and so far it has fallen -8.42%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). CLPS Inc. 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.
A sell signal from a double top formation was found on Thursday, May 02, 2024 with a target of $0.95. Despite whether the objective of the signal formation has been reached the stock may continue to fall.
Support, Risk & Stop-loss for CLPS Inc. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.0299 between high and low, or 3.44%. For the last week, the stock has had daily average volatility of 4.02%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CLPS) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect CLPS Inc. to open at $0.88, and during the day (based on 14 day Average True Range), to move between $0.83 and $0.91, which gives a possible trading interval of +/-$0.0403 (+/-4.64%) up or down from last closing price. If CLPS Inc. takes out the full calculated possible swing range there will be an estimated 9.27% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.94, some $0.0700 (8.05%) from the current price of $0.87, our system finds the risk reward not very attractive.
Is CLPS Inc. stock A Buy?
CLPS Inc. 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.
Current score: -3.072 Sell Candidate Unchanged
Predicted Opening Price for CLPS Inc. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $0.88 ( 1.15%) | $0.87 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CLPS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.91 | 4.58% |
| R2 | 0.90 | 3.27% |
| R1 | 0.89 | 2.46% |
| Price | 0.87 | |
| S1 | 0.87 | -0.167% |
| S2 | 0.86 | -0.98% |
| S3 | 0.85 | -2.29% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.00 | 14.37% |
| R2 | 0.97 | 11.49% |
| R1 | 0.94 | 8.05% |
| Price | 0.87 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
CLPS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 22, 2023 | Dec 01, 2023 | Dec 13, 2023 | $0.100 | 9.26% |
| 2 | Dec 14, 2022 | Dec 28, 2022 | Jan 10, 2023 | $0.0500 | 4.10% |
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