Clover Corporation Limited Stock Forecast

Stronger technical forecast for Clover Corporation Limited stock price after Friday trading.
(Updated on May 17, 2024)

CLV.AX Signals & Forecast

The Clover Corporation Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.511 and $0.513. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, March 28, 2024, and so far it has risen 7.22%. 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. 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 not be. The very low volume increases the risk and reduces the other technical signals issued. The stock had a Golden Star Signal on Wednesday, May 15, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Clover Corporation Limited stock

Clover Corporation Limited finds support from accumulated volume at $0.510 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.0100 between high and low, or 1.96%. For the last week the stock has had daily average volatility of 0.588%

Our recommended stop-loss: $0.502 (-3.48%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 33 days ago.)

Trading Expectations (CLV.AX) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Clover Corporation Limited to open at $0.517, and during the day (based on 14 day Average True Range), to move between $0.508 and $0.532, which gives a possible trading interval of +/-$0.0116 (+/-2.23%) up or down from last closing price. If Clover Corporation Limited takes out the full calculated possible swing range there will be an estimated 4.47% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.525 (0.96%) than the support at $0.510 (1.92%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Clover Corporation Limited stock A Buy?

Clover Corporation Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.528 Hold/Accumulate Upgraded

Predicted Opening Price for Clover Corporation Limited of Monday, May 20, 2024

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