Charles & Colvard Ltd Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Charles & Colvard Ltd stock price up more than 6.84% on Wednesday
(Updated on May 01, 2024)
The Charles & Colvard Ltd stock price gained 6.84% on the last trading day (Wednesday, 1st May 2024), rising from $0.333 to $0.356. During the last trading day the stock fluctuated 8.11% from a day low at $0.333 to a day high of $0.360. The price has been going up and down for this period, and there has been a 3.16% 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, 180 thousand more shares were traded than the day before. In total, 247 thousand shares were bought and sold for approximately $87.97 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 -10.72% during the next 3 months and, with a 90% probability hold a price between $0.259 and $0.340 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
The Charles & Colvard Ltd 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 $0.353 and $0.341. A breakdown below any of these levels will issue sell signals. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, April 23, 2024, and so far it has fallen -7.53%. Further fall is indicated until a new bottom pivot has been found.
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 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 $0.0270 between high and low, or 8.11%. For the last week, the stock has had daily average volatility of 8.70%.
Our recommended stop-loss: $0.336 (-5.72%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (CTHR) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Charles & Colvard Ltd to open at $0.350, and during the day (based on 14 day Average True Range), to move between $0.328 and $0.384, which gives a possible trading interval of +/-$0.0275 (+/-7.73%) up or down from last closing price. If Charles & Colvard Ltd takes out the full calculated possible swing range there will be an estimated 15.47% 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 (0.56%) than the support at $0.352 (1.26%), 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.
Earnings coming up
Charles & Colvard Ltd will release earnings AMC on Thursday, May 02, 2024. We will update the financials statements for Charles & Colvard Ltd, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 8.02% in the first trading day after earnings release.
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 Strong Sell to a Buy candidate.
Current score: 1.407 Buy Candidate Upgraded
Predicted Opening Price for Charles & Colvard Ltd of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $0.350 ( 1.78%) | $0.356 |
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 | 0.377 | 5.81 % | |
| R2 | 0.366 | 2.91 % | ||
| R1 | 0.360 | 1.12 % | ||
| Current price: | 0.356 | |||
| Support | S1 | 0.339 | -4.68 % | |
| S2 | 0.333 | -6.47 % | ||
| S3 | 0.323 | -9.36 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.377 | 5.87 % | |
| R2 | 0.359 | 0.84 % | ||
| R1 | 0.358 | 0.562 % | ||
| Current price | 0.356 | |||
| Support | S1 | 0.352 | -1.26% | |
| S2 | 0.339 | -4.92% | ||
| S3 | 0.303 | -14.89% |
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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