Charlotte's Web Holdings, Inc. Stock Forecast
High volatility in Charlotte's Web Holdings, Inc. stock price on Wednesday which ended trading at $0.207
(Updated on Apr 24, 2024)
The Charlotte's Web Holdings, Inc. stock price fell by -5.67% on the last day (Wednesday, 24th Apr 2024) from $0.220 to $0.207. During the last trading day the stock fluctuated 10.76% from a day low at $0.201 to a day high of $0.223. The price has fallen in 6 of the last 10 days and is down by -8.1% for this period. 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 -528 shares and in total, 168 thousand shares were bought and sold for approximately $34.73 thousand.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 35.28% during the next 3 months and, with a 90% probability hold a price between $0.251 and $0.364 at the end of this 3-month period.
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CWBHF Signals & Forecast
The Charlotte's Web Holdings, Inc. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $0.214. On a fall, the stock will find some support from the long-term average at approximately $0.194. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Thursday, April 04, 2024, and so far it has fallen -18.28%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Charlotte's Web Holdings, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.186 and $0.172. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Charlotte's Web Holdings, Inc. finds support just below today's level at $0.186. If this is broken, then the next support from accumulated volume will be at $0.172 and $0.158.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0216 between high and low, or 10.76%. For the last week the stock has had daily average volatility of 10.43%.
Charlotte's Web Holdings, Inc. is oversold on RSI14 (23). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: $0.194 (-6.54%) (This stock has high daily movements and this gives high risk. Low RSI14 is 23 which reduces the risk some. There is a sell signal from a pivot top found 14 days ago.)
Trading Expectations (CWBHF) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Charlotte's Web Holdings, Inc. to open at $0.210, and during the day (based on 14 day Average True Range), to move between $0.185 and $0.229, which gives a possible trading interval of +/-$0.0219 (+/-10.55%) up or down from last closing price. If Charlotte's Web Holdings, Inc. takes out the full calculated possible swing range there will be an estimated 21.10% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.186 (9.99%) than the resistance at $0.237 (14.17%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Charlotte's Web Holdings, Inc. stock A Buy?
Charlotte's Web Holdings, Inc. 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.459 Hold/Accumulate Downgraded
Predicted Opening Price for Charlotte's Web Holdings, Inc. of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $0.210 ( 1.50%) | $0.207 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CWBHF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.232 | 11.94 % | |
| R2 | 0.224 | 7.95 % | ||
| R1 | 0.219 | 5.49 % | ||
| Current price: | 0.207 | |||
| Support | S1 | 0.202 | -2.49 % | |
| S2 | 0.197 | -4.95 % | ||
| S3 | 0.189 | -8.94 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.254 | 22.38 % | |
| R2 | 0.239 | 15.38 % | ||
| R1 | 0.237 | 14.17 % | ||
| Current price | 0.207 | |||
| Support | S1 | 0.186 | -9.99% | |
| S2 | 0.172 | -16.97% | ||
| S3 | 0.158 | -23.73% |
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