CS Disco, Inc. Stock Forecast
Green day on Thursday for CS Disco, Inc.
(Updated on Mar 28, 2024)
The CS Disco, Inc. stock price gained 4.50% on the last trading day (Thursday, 28th Mar 2024), rising from $7.78 to $8.13. It has now gained 3 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 5.03% from a day low at $7.75 to a day high of $8.14. The price has risen in 7 of the last 10 days and is up by 18% 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, 7 thousand more shares were traded than the day before. In total, 232 thousand shares were bought and sold for approximately $1.88 million.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $8.11, a level that may pose a second chance to hit a runner. According to fan-theory $10.06 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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LAW Signals & Forecast
The CS Disco, Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $7.86 and $7.38. A breakdown below any of these levels will issue sell signals. 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. 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 Wednesday, March 20, 2024, and so far it has fallen -0.123%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for CS Disco, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $7.54 and $7.45. 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, CS Disco, Inc. finds support just below today's level at $7.54. If this is broken, then the next support from accumulated volume will be at $7.45 and $7.01.
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 $0.390 between high and low, or 5.03%. For the last week, the stock has had daily average volatility of 4.53%.
Our recommended stop-loss: $7.84 (-3.57%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (LAW) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect CS Disco, Inc. to open at $8.01, and during the day (based on 14 day Average True Range), to move between $7.76 and $8.50, which gives a possible trading interval of +/-$0.371 (+/-4.57%) up or down from last closing price. If CS Disco, Inc. takes out the full calculated possible swing range there will be an estimated 9.13% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $8.24 (1.35%) than the support at $7.54 (7.26%), 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.
Is CS Disco, Inc. stock A Buy?
CS Disco, 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.
Current score: 0.365 Hold/Accumulate Unchanged
Predicted Opening Price for CS Disco, Inc. of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$8.01 ( 1.52%) | $8.13 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LAW
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 8.40 | 3.28 % | |
R2 | 8.25 | 1.45 % | ||
R1 | 8.16 | 0.315 % | ||
Current price: | 8.13 | |||
Support | S1 | 7.86 | -3.35 % | |
S2 | 7.77 | -4.48 % | ||
S3 | 7.62 | -6.31 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 8.40 | 3.32 % | |
R2 | 8.39 | 3.20 % | ||
R1 | 8.24 | 1.35 % | ||
Current price | 8.13 | |||
Support | S1 | 7.54 | -7.26% | |
S2 | 7.45 | -8.36% | ||
S3 | 7.01 | -13.78% |
FAQ
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