CommVault Systems Stock Forecast
Stronger technical forecast for CommVault Systems stock price after Tuesday trading.
(Updated on Apr 30, 2024)
The CommVault Systems stock price gained 3.06% on the last trading day (Tuesday, 30th Apr 2024), rising from $99.43 to $102.47. It 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 last trading day the stock fluctuated 7.03% from a day low at $100.40 to a day high of $107.46. The price has risen in 7 of the last 10 days and is up by 7.15% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 270 thousand more shares were traded than the day before. In total, 669 thousand shares were bought and sold for approximately $68.60 million.
The stock lies in the upper part of a weak rising 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 $103.23 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 5.16% during the next 3 months and, with a 90% probability hold a price between $99.69 and $108.55 at the end of this 3-month period.
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CVLT Signals & Forecast
Mostly positive signals in the chart today. The CommVault Systems 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 $98.12 and $98.24. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 8.84%. 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.
Support, Risk & Stop-loss for CommVault Systems stock
CommVault Systems finds support from accumulated volume at $97.91 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 $7.06 (7.03%) between high and low. For the last week, the stock has had daily average volatility of 2.81%.
Our recommended stop-loss: $98.74 (-3.64%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (CVLT) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect CommVault Systems to open at $103.44, and during the day (based on 14 day Average True Range), to move between $100.05 and $104.89, which gives a possible trading interval of +/-$2.42 (+/-2.36%) up or down from last closing price. If CommVault Systems takes out the full calculated possible swing range there will be an estimated 4.73% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $97.91, some $4.56 (4.45%) from the current price of $102.47, our system finds the risk reward attractive.
Is CommVault Systems stock A Buy?
CommVault Systems holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.674 Strong Buy Candidate Upgraded
Predicted Opening Price for CommVault Systems of Wednesday, May 1, 2024
Fair opening price May 1, 2024 | Current price |
---|---|
$103.44 ( 0.95%) | $102.47 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CVLT
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 110.50 | 7.84 % | |
R2 | 107.81 | 5.21 % | ||
R1 | 106.14 | 3.58 % | ||
Current price: | 102.47 | |||
Support | S1 | 100.75 | -1.68 % | |
S2 | 99.08 | -3.31 % | ||
S3 | 96.38 | -5.94 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 102.47 | |||
Support | S1 | 97.91 | -4.45% | |
S2 | 94.64 | -7.64% | ||
S3 | 91.68 | -10.53% |
FAQ
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