Green day on Friday for ClearOne
(Updated on Dec 01, 2023)
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Given the current short-term trend, the stock is expected to fall -8.73% during the next 3 months and, with a 90% probability hold a price between $0.566 and $0.750 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.
CLRO Signals & Forecast
Mostly positive signals in the chart today. The ClearOne 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 $0.81 and $0.714. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, October 26, 2023, and so far it has risen 26.07%. 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). ClearOne has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for ClearOne stock
ClearOne finds support from accumulated volume at $0.81 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 $0.0588 between high and low, or 7.53%. For the last week, the stock has had daily average volatility of 3.79%.
The ClearOne 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. 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: $0.795 (-3.26%) (This stock has high daily movements and this gives high risk. The RSI14 is 87 and this increases the risk substantially. There is a buy signal from a pivot bottom found 25 days ago.)
Trading Expectations (CLRO) For The Upcoming Trading Day Of Monday 4th
For the upcoming trading day on Monday, 4th we expect ClearOne to open at $0.81, and during the day (based on 14 day Average True Range), to move between $0.790 and $0.85, which gives a possible trading interval of +/-$0.0318 (+/-3.87%) up or down from last closing price. If ClearOne takes out the full calculated possible swing range there will be an estimated 7.74% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.81 (1.24%) than the resistance at $0.84 (2.10%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is ClearOne stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 3.534 Open Broker AccountBuy Candidate Unchanged
Predicted Opening Price for ClearOne of Monday, December 4, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
|Fair opening price December 4, 2023||Current price|
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Fibonacci Support & Resistance Levels
Accumulated Volume Support & Resistance Levels
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