Green day on Wednesday for CorVel Corp. stock after gaining 0.18%
(Updated on Dec 08, 2021)
Buy or Hold candidate since 2021-10-27 Gain 11.40% PDF
The CorVel Corp. stock price gained 0.18% on the last trading day (Wednesday, 8th Dec 2021), rising from $196.80 to $197.16. , and has now gained 4 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 day the stock fluctuated 2.42% from a day low at $192.78 to a day high of $197.45. The price has risen in 7 of the last 10 days, but is still down by -0.38% for this period. Volume fell on the last day by -4 thousand shares and in total, 29 thousand shares were bought and sold for approximately $5.74 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 12.03% during the next 3 months and, with a 90% probability hold a price between $204.28 and $232.17 at the end of this 3-month period.
Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, November 24, 2021, and so far it has fallen -0.83%. 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). The CorVel Corp. 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 $192.45 and $187.81. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss
CorVel Corp. finds support from accumulated volume at $195.35 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $4.67 (2.42%) between high and low. For the last week, the stock has had a daily average volatility of 2.83%.
Our recommended stop-loss: $190.25 (-3.50%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 9 days ago.)
Is CorVel Corp. 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 CorVel Corp. stock to perform well in the short-term.
Current score: 2.987
Predicted Opening Price for CorVel Corp. of Thursday, December 9, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price December 9, 2021||Current price|
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CRVL Insider Trading
|Dec 02, 2021||Sell||1 000||Clemons V Gordon||Common Stock|
|Dec 01, 2021||Sell||7 500||Michael Jeffrey J||Common Stock|
|Nov 30, 2021||Sell||7 500||Michael Jeffrey J||Common Stock|
|Nov 24, 2021||Sell||225||O'brien Brandon||Non-Qualified Stock Option (right to buy)|
|Nov 24, 2021||Sell||83||O'brien Brandon||Non-Qualified Stock Option (right to buy)|
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