Charlotte's Web Holdings, Inc. Stock Forecast
High volatility in Charlotte's Web Holdings, Inc. stock price on Friday which ended trading at $0.199
(Updated on May 03, 2024)
The Charlotte's Web Holdings, Inc. stock price gained 0.99% on the last trading day (Friday, 3rd May 2024), rising from $0.197 to $0.199. During the last trading day the stock fluctuated 12.30% from a day low at $0.187 to a day high of $0.210. The price has fallen in 6 of the last 10 days and is down by -9.57% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 48 thousand more shares were traded than the day before. In total, 108 thousand shares were bought and sold for approximately $21.55 thousand.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.191 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 45.98% during the next 3 months and, with a 90% probability hold a price between $0.279 and $0.414 at the end of this 3-month period.
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CWBHF Signals & Forecast
Charlotte's Web Holdings, Inc. 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. The Charlotte's Web Holdings, Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.202 and $0.205. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 04, 2024, and so far it has fallen -21.59%. 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).
Support, Risk & Stop-loss for Charlotte's Web Holdings, Inc. stock
Charlotte's Web Holdings, Inc. finds support from accumulated volume at $0.190 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 $0.0230 between high and low, or 12.30%. For the last week, the stock has had daily average volatility of 19.26%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CWBHF) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Charlotte's Web Holdings, Inc. to open at $0.199, and during the day (based on 14 day Average True Range), to move between $0.173 and $0.225, which gives a possible trading interval of +/-$0.0259 (+/-13.05%) 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 26.10% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.200 (0.62%) than the support at $0.190 (4.26%), 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
Charlotte's Web Holdings, Inc. will release earnings BMO on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.0600. We will update the financials statements for Charlotte's Web Holdings, Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 10.93% in the first trading day after earnings release.
Is Charlotte's Web Holdings, Inc. stock A Buy?
The Charlotte's Web Holdings, Inc. stock holds several negative signals and despite the positive trend, we believe Charlotte's Web Holdings, Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.318 Sell Candidate Unchanged
Predicted Opening Price for Charlotte's Web Holdings, Inc. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $0.199 ( 0.0912%) | $0.199 |
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 | 0.222 | 11.48 % | |
| R2 | 0.213 | 7.06 % | ||
| R1 | 0.207 | 4.33 % | ||
| Current price: | 0.199 | |||
| Support | S1 | 0.190 | -4.51 % | |
| S2 | 0.184 | -7.24 % | ||
| S3 | 0.176 | -11.66 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.237 | 18.98 % | |
| R2 | 0.236 | 18.55 % | ||
| R1 | 0.200 | 0.618 % | ||
| Current price | 0.199 | |||
| Support | S1 | 0.190 | -4.26% | |
| S2 | 0.158 | -20.51% | ||
| S3 | 0.155 | -22.02% |
FAQ
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