Charles & Colvard Ltd Stock Forecast
Charles & Colvard Ltd stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on Apr 19, 2024)
The Charles & Colvard Ltd stock price gained 4.08% on the last trading day (Friday, 19th Apr 2024), rising from $0.341 to $0.355. During the last trading day the stock fluctuated 9.03% from a day low at $0.330 to a day high of $0.360. The price has been going up and down for this period, and there has been a 10.9% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 205 thousand more shares were traded than the day before. In total, 232 thousand shares were bought and sold for approximately $82.45 thousand.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $0.357 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -22.57% during the next 3 months and, with a 90% probability hold a price between $0.191 and $0.277 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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CTHR Signals & Forecast
Mostly positive signals in the chart today. The Charles & Colvard Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.326 and $0.343. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 12, 2024, and so far it has risen 18.33%. 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). Charles & Colvard Ltd has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Charles & Colvard Ltd stock
Charles & Colvard Ltd finds support from accumulated volume at $0.352 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0298 between high and low, or 9.03%. For the last week, the stock has had daily average volatility of 8.66%.
Our recommended stop-loss: $0.341 (-3.84%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (CTHR) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Charles & Colvard Ltd to open at $0.348, and during the day (based on 14 day Average True Range), to move between $0.329 and $0.381, which gives a possible trading interval of +/-$0.0264 (+/-7.45%) up or down from last closing price. If Charles & Colvard Ltd takes out the full calculated possible swing range there will be an estimated 14.89% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.358 (0.85%) than the support at $0.352 (0.99%), 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 Charles & Colvard Ltd stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.591 Buy Candidate Upgraded
Predicted Opening Price for Charles & Colvard Ltd of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $0.348 ( 1.90%) | $0.355 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CTHR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.378 | 6.50 % | |
| R2 | 0.367 | 3.29 % | ||
| R1 | 0.360 | 1.31 % | ||
| Current price: | 0.355 | |||
| Support | S1 | 0.337 | -5.10 % | |
| S2 | 0.330 | -7.08 % | ||
| S3 | 0.318 | -10.29 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.377 | 6.17 % | |
| R2 | 0.359 | 1.13 % | ||
| R1 | 0.358 | 0.85 % | ||
| Current price | 0.355 | |||
| Support | S1 | 0.352 | -0.99% | |
| S2 | 0.339 | -4.65% | ||
| S3 | 0.303 | -14.65% |
CTHR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 24, 2007 | May 29, 2007 | Jun 15, 2007 | $0.0800 | 1.66% |
| 2 | Apr 18, 2006 | May 26, 2006 | Jun 15, 2006 | $0.0800 | 0.773% |
| 3 | May 25, 2005 | Jun 28, 2005 | Jul 15, 2005 | $0.0400 | 0.193% |
FAQ
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