Calix Limited Stock Forecast
Big movements in Calix Limited stock price on Tuesday moving 17.86% between high and low
(Updated on Jun 25, 2024)
The Calix Limited stock price gained 15.23% on the last trading day (Tuesday, 25th Jun 2024), rising from $1.28 to $1.48. During the last trading day the stock fluctuated 17.86% from a day low at $1.26 to a day high of $1.49. The price has been going up and down for this period, and there has been a 21.4% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 533 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $1.74 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -13.26% during the next 3 months and, with a 90% probability hold a price between $0.91 and $1.40 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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CXL.AX Signals & Forecast
Mostly positive signals in the chart today. The Calix Limited 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 $1.30 and $1.38. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 37.21%. 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 Calix Limited stock
Calix Limited finds support from accumulated volume at $1.43 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.225 between high and low, or 17.86%. For the last week, the stock has had daily average volatility of 10.80%.
Our recommended stop-loss: $1.40 (-5.04%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 21 days ago.)
Trading Expectations (CXL.AX) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Calix Limited to open at $1.41, and during the day (based on 14 day Average True Range), to move between $1.37 and $1.58, which gives a possible trading interval of +/-$0.104 (+/-7.05%) up or down from last closing price. If Calix Limited takes out the full calculated possible swing range there will be an estimated 14.10% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.49 (0.68%) than the support at $1.43 (3.05%), 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 Calix Limited 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 Sell to a Buy candidate.
Current score: 2.889 Buy Candidate Upgraded
Predicted Opening Price for Calix Limited of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $1.41 ( 4.63%) | $1.48 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CXL.AX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.63 | 10.62% |
| R2 | 1.55 | 4.79% |
| R1 | 1.49 | 1.19% |
| Price | 1.48 | |
| S1 | 1.32 | -10.46% |
| S2 | 1.27 | -14.06% |
| S3 | 1.18 | -19.89% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.50 | 1.69% |
| R2 | 1.50 | 1.36% |
| R1 | 1.49 | 0.678% |
| Price | 1.48 | |
| S1 | 1.43 | -3.05% |
| S2 | 1.41 | -4.41% |
| S3 | 1.36 | -8.14% |
FAQ
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