CorVel Corp. Stock Forecast

Sell candidate since Dec 18, 2024 Loss -67.24%

The CorVel Corp. stock price gained 1.41% on the last trading day (Tuesday, 21st Jan 2025), rising from $108.85 to $110.39. During the last trading day the stock fluctuated 2.14% from a day low at $109.84 to a day high of $112.19. The price has risen in 6 of the last 10 days but is still down by -0.3% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 thousand more shares were traded than the day before. In total, 87 thousand shares were bought and sold for approximately $9.61 million.

The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $82.08 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -45.76% during the next 3 months and, with a 90% probability hold a price between $44.52 and $153.83 at the end of this 3-month period.

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CRVL Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, January 10, 2025, and so far it has risen 4.13%. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The CorVel Corp. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $241.86. On a fall, the stock will find some support from the short-term average at $108.93. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.

Support, Risk & Stop-loss for CorVel Corp. stock

CorVel Corp. finds support from accumulated volume at $110.18 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $2.35 between high and low, or 2.14%. For the last week, the stock has had daily average volatility of 1.94%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (CRVL) For The Upcoming Trading Day Of Wednesday 22nd

For the upcoming trading day on Wednesday, 22nd we expect CorVel Corp. to open at $110.81, and during the day (based on 14 day Average True Range), to move between $99.44 and $121.34, which gives a possible trading interval of +/-$10.95 (+/-9.92%) up or down from last closing price. If CorVel Corp. takes out the full calculated possible swing range there will be an estimated 19.84% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $110.18 (0.19%) than the resistance at $110.61 (0.20%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is CorVel Corp. stock A Buy?

CorVel Corp. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -3.725 Sell Candidate Unchanged

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Predicted Fair Opening Price

Predicted fair opening price on January 22, 2025 - $110.81 ( 0.377%).