Conifer Holdings Stock Forecast
Conifer Holdings stock upgraded from Sell Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on Apr 23, 2024)
The Conifer Holdings stock price fell by -0.0104% on the last day (Tuesday, 23rd Apr 2024) from $0.97 to $0.97. During the last trading day the stock fluctuated 3.42% from a day low at $0.93 to a day high of $0.97. The price has been going up and down for this period, and there has been a 2.07% gain for the last 2 weeks. Volume has increased on the last day by 6 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 $5.40 thousand.
The stock lies in the middle of a very 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 -25.21% during the next 3 months and, with a 90% probability hold a price between $0.635 and $0.87 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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CNFR Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 11, 2024, and so far it has risen 7.33%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Conifer Holdings 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 $1.00 and $1.05. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Conifer Holdings 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.
Support, Risk & Stop-loss for Conifer Holdings stock
Conifer Holdings finds support from accumulated volume at $0.94 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 $0.0319 between high and low, or 3.42%. For the last week, the stock has had daily average volatility of 0.683%.
Our recommended stop-loss: $0.93 (-3.40%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (CNFR) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Conifer Holdings to open at $0.96, and during the day (based on 14 day Average True Range), to move between $0.88 and $1.05, which gives a possible trading interval of +/-$0.0816 (+/-8.45%) up or down from last closing price. If Conifer Holdings takes out the full calculated possible swing range there will be an estimated 16.90% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.94 (2.74%) than the resistance at $1.10 (13.87%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Conifer Holdings stock A Buy?
Conifer Holdings holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: 0.000 Hold/Accumulate Upgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Conifer Holdings of Wednesday, April 24, 2024
Fair opening price April 24, 2024 | Current price |
---|---|
$0.96 ( 1.10%) | $0.97 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CNFR
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.99 | 2.20 % | |
R2 | 0.98 | 0.94 % | ||
R1 | 0.97 | 0.161 % | ||
Current price: | 0.97 | |||
Support | S1 | 0.94 | -2.36 % | |
S2 | 0.94 | -3.14 % | ||
S3 | 0.92 | -4.40 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.18 | 22.15 % | |
R2 | 1.12 | 15.95 % | ||
R1 | 1.10 | 13.87 % | ||
Current price | 0.97 | |||
Support | S1 | 0.94 | -2.74% | |
S2 | 0.93 | -3.62% | ||
S3 | 0.90 | -6.83% |
FAQ
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