Clearwater Paper Corporation Stock Forecast
Volatile ride for Clearwater Paper Corporation stock price on Tuesday moving between $41.72 and $47.98
(Updated on Apr 30, 2024)
The Clearwater Paper Corporation stock price gained 10.69% on the last trading day (Tuesday, 30th Apr 2024), rising from $40.69 to $45.04. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 15.00% from a day low at $41.72 to a day high of $47.98. The price has risen in 7 of the last 10 days and is up by 13.85% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 212 thousand more shares were traded than the day before. In total, 395 thousand shares were bought and sold for approximately $17.80 million.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 23.21% during the next 3 months and, with a 90% probability hold a price between $49.91 and $58.20 at the end of this 3-month period.
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CLW Signals & Forecast
Mostly positive signals in the chart today. The Clearwater Paper Corporation 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 $40.96 and $41.28. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 14.84%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Clearwater Paper Corporation stock
On the downside, the stock finds support just below today's level from accumulated volume at $40.98 and $40.76. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Clearwater Paper Corporation finds support just below today's level at $40.98. If this is broken, then the next support from accumulated volume will be at $40.76 and $38.93.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $6.26 (15.00%) between high and low. For the last week, the stock has had daily average volatility of 4.37%.
Our recommended stop-loss: $43.46 (-3.50%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (CLW) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect Clearwater Paper Corporation to open at $44.91, and during the day (based on 14 day Average True Range), to move between $43.64 and $46.44, which gives a possible trading interval of +/-$1.40 (+/-3.12%) up or down from last closing price. If Clearwater Paper Corporation takes out the full calculated possible swing range there will be an estimated 6.23% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $40.98, some $4.06 (9.01%) from the current price of $45.04, our system finds the risk reward attractive.
Earnings coming up
Clearwater Paper Corporation will release earnings BMO on Tuesday, May 07, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.11. We will update the financials statements for Clearwater Paper Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.74% in the first trading day after earnings release.
Is Clearwater Paper Corporation stock A Buy?
Clearwater Paper Corporation holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Buy candidate.
Current score: 5.336 Strong Buy Candidate Upgraded
Predicted Opening Price for Clearwater Paper Corporation of Wednesday, May 1, 2024
| Fair opening price May 1, 2024 | Current price |
|---|---|
| $44.91 ( 0.282%) | $45.04 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CLW
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 51.17 | 13.61 % | |
| R2 | 48.78 | 8.31 % | ||
| R1 | 47.30 | 5.03 % | ||
| Current price: | 45.04 | |||
| Support | S1 | 42.52 | -5.59 % | |
| S2 | 41.04 | -8.87 % | ||
| S3 | 38.65 | -14.18 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 45.04 | |||
| Support | S1 | 40.98 | -9.01% | |
| S2 | 40.76 | -9.50% | ||
| S3 | 38.93 | -13.57% |
FAQ
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