Clearside BioMedical, Inc Stock Forecast

Strong day for Clearside BioMedical, Inc stock price on Friday rising 6.35% to $1.34
(Updated on Apr 26, 2024)

CLSD Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 16.52%. 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). Clearside BioMedical, 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. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Clearside BioMedical, Inc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $1.48. On a fall, the stock will find some support from the short-term average at $1.34. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.

Support, Risk & Stop-loss for Clearside BioMedical, Inc stock

Clearside BioMedical, Inc finds support from accumulated volume at $1.30 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 $0.110 between high and low, or 8.66%. For the last week, the stock has had daily average volatility of 9.68%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (CLSD) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect Clearside BioMedical, Inc to open at $1.33, and during the day (based on 14 day Average True Range), to move between $1.19 and $1.49, which gives a possible trading interval of +/-$0.145 (+/-10.83%) up or down from last closing price. If Clearside BioMedical, Inc takes out the full calculated possible swing range there will be an estimated 21.66% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $1.30 (2.99%) than the resistance at $1.51 (12.69%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Clearside BioMedical, Inc stock A Buy?

Clearside BioMedical, Inc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -1.107 Sell Candidate Downgraded

Predicted Opening Price for Clearside BioMedical, Inc of Monday, April 29, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.