Clearwater Analytics Holdings, Inc. Stock Forecast
Clearwater Analytics Holdings, Inc. stock upgraded from Hold/Accumulate to Buy Candidate after Monday trading session.
(Updated on May 06, 2024)
The Clearwater Analytics Holdings, Inc. stock price fell by -1.13% on the last day (Monday, 6th May 2024) from $17.67 to $17.47. During the last trading day the stock fluctuated 3.91% from a day low at $17.27 to a day high of $17.94. The price has been going up and down for this period, and there has been a 5.81% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -485 thousand shares and in total, 1 million shares were bought and sold for approximately $18.14 million.
The stock lies the upper part of a 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 $17.62 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 -15.73% during the next 3 months and, with a 90% probability hold a price between $13.12 and $14.84 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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CWAN Signals & Forecast
The Clearwater Analytics Holdings, Inc. 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 $16.62 and $16.80. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 10.71%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Clearwater Analytics Holdings, Inc. stock
Clearwater Analytics Holdings, Inc. finds support from accumulated volume at $17.22 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 $0.675 between high and low, or 3.91%. For the last week, the stock has had daily average volatility of 3.81%.
Our recommended stop-loss: $16.83 (-3.64%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (CWAN) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Clearwater Analytics Holdings, Inc. to open at $17.56, and during the day (based on 14 day Average True Range), to move between $16.93 and $18.01, which gives a possible trading interval of +/-$0.536 (+/-3.07%) up or down from last closing price. If Clearwater Analytics Holdings, Inc. takes out the full calculated possible swing range there will be an estimated 6.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $17.67 (1.14%) than the support at $17.22 (1.43%), 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 Clearwater Analytics Holdings, Inc. 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: 2.052 Buy Candidate Upgraded
Predicted Opening Price for Clearwater Analytics Holdings, Inc. of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $17.56 ( 0.506%) | $17.47 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CWAN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 18.23 | 4.37 % | |
| R2 | 17.98 | 2.89 % | ||
| R1 | 17.82 | 1.98 % | ||
| Current price: | 17.47 | |||
| Support | S1 | 17.30 | -0.97 % | |
| S2 | 17.14 | -1.88 % | ||
| S3 | 16.88 | -3.36 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 19.72 | 12.88 % | |
| R2 | 19.34 | 10.70 % | ||
| R1 | 17.67 | 1.14 % | ||
| Current price | 17.47 | |||
| Support | S1 | 17.22 | -1.43% | |
| S2 | 16.93 | -3.09% | ||
| S3 | 16.70 | -4.41% |
FAQ
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