Clinuvel Pharmaceuticals Limited Stock Forecast
Clinuvel Pharmaceuticals Limited stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Jun 28, 2024)
The Clinuvel Pharmaceuticals Limited stock price gained 0.85% on the last trading day (Friday, 28th Jun 2024), rising from $15.24 to $15.37. During the last trading day the stock fluctuated 2.37% from a day low at $15.18 to a day high of $15.54. The price has been going up and down for this period, and there has been a 3.85% gain for the last 2 weeks. Volume fell on the last day by -34 thousand shares and in total, 83 thousand shares were bought and sold for approximately $1.27 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 is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Clinuvel Pharmaceuticals Limited stock with a 90% probability to be traded between $13.85 and $15.59 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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CUV.AX Signals & Forecast
The Clinuvel Pharmaceuticals Limited 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 $15.32 and $15.19. 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). 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, June 25, 2024, and so far it has fallen -2.10%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Clinuvel Pharmaceuticals Limited stock
Clinuvel Pharmaceuticals Limited finds support from accumulated volume at $15.25 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 $0.360 between high and low, or 2.37%. For the last week the stock has had daily average volatility of 3.55%.
Our recommended stop-loss: $14.80 (-3.74%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 12 days ago.)
Trading Expectations (CUV.AX) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Clinuvel Pharmaceuticals Limited to open at $15.36, and during the day (based on 14 day Average True Range), to move between $14.89 and $15.85, which gives a possible trading interval of +/-$0.485 (+/-3.15%) up or down from last closing price. If Clinuvel Pharmaceuticals Limited takes out the full calculated possible swing range there will be an estimated 6.31% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $15.39 (0.13%) than the support at $15.25 (0.78%), 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 Clinuvel Pharmaceuticals Limited stock A Buy?
Clinuvel Pharmaceuticals Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.035 Hold/Accumulate Upgraded
Predicted Opening Price for Clinuvel Pharmaceuticals Limited of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $15.36 ( 0.0434%) | $15.37 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CUV.AX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 15.72 | 2.30% |
| R2 | 15.59 | 1.40% |
| R1 | 15.50 | 0.85% |
| Price | 15.37 | |
| S1 | 15.23 | -0.94% |
| S2 | 15.14 | -1.49% |
| S3 | 15.00 | -2.39% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 16.18 | 5.27% |
| R2 | 15.60 | 1.50% |
| R1 | 15.39 | 0.130% |
| Price | 15.37 | |
| S1 | 15.25 | -0.781% |
| S2 | 15.15 | -1.43% |
| S3 | 14.38 | -6.44% |
CUV Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 05, 2023 | Sep 05, 2023 | Sep 20, 2023 | $0.0500 | 0.324% |
| 2 | Sep 06, 2022 | Sep 06, 2022 | Sep 06, 2022 | $0.0400 | 0.204% |
| 3 | Sep 02, 2021 | Sep 02, 2021 | Sep 02, 2021 | $0.0250 | 0.0657% |
| 4 | Aug 27, 2020 | Sep 03, 2020 | Sep 18, 2020 | $0.0250 | 0.109% |
| 5 | Aug 28, 2019 | Sep 04, 2019 | Sep 19, 2019 | $0.0250 | 0.0990% |
FAQ
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