Charles River Laboratories Stock Forecast
Is Charles River Laboratories stock still a buy after falling -6.12% on Monday?
(Updated on Apr 22, 2024)
The Charles River Laboratories stock price fell by -6.12% on the last day (Monday, 22nd Apr 2024) from £24.50 to £23.00. During the last trading day the stock fluctuated 0% from a day low at £23.00 to a day high of £23.00. The price has fallen in 7 of the last 10 days and is down by -8.4% 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 -10 thousand shares and in total, 204 shares were bought and sold for approximately £4.69 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 33.26% during the next 3 months and, with a 90% probability hold a price between £28.80 and £37.35 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
CRL.L Signals & Forecast
There are few to no technical positive signals at the moment. The Charles River Laboratories stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at £24.09 and £23.51. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, March 25, 2024, and so far it has fallen -11.54%. 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. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Charles River Laboratories stock
Charles River Laboratories finds support from accumulated volume at £22.50 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 controlled movements and therefore the general risk is considered 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 between high and low, or 0%. For the last week the stock has had daily average volatility of 1.80%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CRL.L) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Charles River Laboratories to open at £23.00, and during the day (based on 14 day Average True Range), to move between £21.57 and £24.43, which gives a possible trading interval of +/-£1.43 (+/-6.23%) up or down from last closing price. If Charles River Laboratories takes out the full calculated possible swing range there will be an estimated 12.45% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £22.50 (2.17%) than the resistance at £24.50 (6.52%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Charles River Laboratories stock A Buy?
The Charles River Laboratories stock holds several negative signals and despite the positive trend, we believe Charles River Laboratories will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.641 Sell Candidate Downgraded
Predicted Opening Price for Charles River Laboratories of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| £23.00 ( 0%) | £23.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CRL.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 23.00 | . | |
| R2 | 23.00 | . | ||
| R1 | 23.00 | . | ||
| Current price: | 23.00 | |||
| Support | S1 | 23.00 | . | |
| S2 | 23.00 | . | ||
| S3 | 23.00 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 26.00 | 13.04 % | |
| R2 | 25.00 | 8.70 % | ||
| R1 | 24.50 | 6.52 % | ||
| Current price | 23.00 | |||
| Support | S1 | 22.50 | -2.17% | |
| S2 | 20.10 | -12.61% | ||
| S3 | 18.50 | -19.57% |
CRL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 30, 2021 | Jan 13, 2022 | Feb 11, 2022 | £0.150 | 0.197% |
| 2 | Aug 25, 2021 | Sep 02, 2021 | Oct 03, 2021 | £0.500 | 0.452% |
| 3 | Dec 09, 2020 | Dec 17, 2020 | Jan 15, 2021 | £0.150 | 0.246% |
| 4 | Sep 08, 2020 | Oct 08, 2020 | Oct 30, 2020 | £0.500 | 1.03% |
| 5 | Nov 20, 2019 | Nov 28, 2019 | Dec 18, 2019 | £0.150 | 0.349% |
FAQ
Click here for our free guide on how to buy Charles River Laboratories Stock.
