Cheetah Mobile Inc Stock Forecast
Cheetah Mobile Inc stock price down 0.699% on Friday
(Updated on Apr 26, 2024)
The Cheetah Mobile Inc stock price fell by -0.699% on the last day (Friday, 26th Apr 2024) from $4.29 to $4.26. During the last trading day the stock fluctuated 8.89% from a day low at $4.00 to a day high of $4.36. The price has risen in 6 of the last 10 days but is still down by -7.59% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -43 thousand shares and in total, 27 thousand shares were bought and sold for approximately $116.08 thousand.
The stock lies in the middle of a very 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 76.00% during the next 3 months and, with a 90% probability hold a price between $5.54 and $9.11 at the end of this 3-month period.
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CMCM Signals & Forecast
The Cheetah Mobile Inc 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 $3.89 and $3.24. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, April 15, 2024, and so far it has fallen -12.16%. 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). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Cheetah Mobile Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $3.97 and $3.89. 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, Cheetah Mobile Inc finds support just below today's level at $3.97. If this is broken, then the next support from accumulated volume will be at $3.89 and $3.26.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.356 between high and low, or 8.89%. For the last week the stock has had daily average volatility of 12.27%.
Our recommended stop-loss: $4.01 (-5.84%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (CMCM) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Cheetah Mobile Inc to open at $4.21, and during the day (based on 14 day Average True Range), to move between $3.82 and $4.70, which gives a possible trading interval of +/-$0.443 (+/-10.40%) up or down from last closing price. If Cheetah Mobile Inc takes out the full calculated possible swing range there will be an estimated 20.80% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $4.37 (2.58%) than the support at $3.97 (6.81%), 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 Cheetah Mobile Inc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Cheetah Mobile Inc stock to perform well in the short-term.
Current score: 2.518 Buy Candidate Unchanged
Predicted Opening Price for Cheetah Mobile Inc of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $4.21 ( 1.22%) | $4.26 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CMCM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.56 | 7.14 % | |
| R2 | 4.43 | 3.94 % | ||
| R1 | 4.34 | 1.97 % | ||
| Current price: | 4.26 | |||
| Support | S1 | 4.07 | -4.41 % | |
| S2 | 3.99 | -6.39 % | ||
| S3 | 3.85 | -9.58 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.85 | 13.85 % | |
| R2 | 4.61 | 8.22 % | ||
| R1 | 4.37 | 2.58 % | ||
| Current price | 4.26 | |||
| Support | S1 | 3.97 | -6.81% | |
| S2 | 3.89 | -8.69% | ||
| S3 | 3.26 | -23.47% |
CMCM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 26, 2020 | Jun 22, 2020 | Jul 09, 2020 | $7.20 | 62.61% |
| 2 | Aug 28, 2019 | Sep 12, 2019 | Sep 30, 2019 | $2.50 | 13.97% |
FAQ
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