Clearside BioMedical, Inc Stock Forecast
High volatility in Clearside BioMedical, Inc stock price on Friday which ended trading at $1.31
(Updated on Apr 19, 2024)
The Clearside BioMedical, Inc stock price fell by -0.758% on the last day (Friday, 19th Apr 2024) from $1.32 to $1.31. During the last trading day the stock fluctuated 15.54% from a day low at $1.26 to a day high of $1.45. The price has fallen in 5 of the last 10 days but is still up by 0.77% over the past 2 weeks. 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 -102 thousand shares and in total, 227 thousand shares were bought and sold for approximately $297.73 thousand.
The stock lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $1.16 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 8.04% during the next 3 months and, with a 90% probability hold a price between $1.25 and $2.26 at the end of this 3-month period.
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CLSD Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 13.91%. Further rise is indicated until a new top pivot has been found. 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 $1.50. On a fall, the stock will find some support from the short-term average at $1.27. 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. 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.
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 very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.195 between high and low, or 15.54%. For the last week the stock has had daily average volatility of 11.98%.
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 22nd
For the upcoming trading day on Monday, 22nd we expect Clearside BioMedical, Inc to open at $1.34, and during the day (based on 14 day Average True Range), to move between $1.16 and $1.46, which gives a possible trading interval of +/-$0.154 (+/-11.77%) up or down from last closing price. If Clearside BioMedical, Inc takes out the full calculated possible swing range there will be an estimated 23.55% 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 (0.76%) than the resistance at $1.51 (15.27%), 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: -1.314 Sell Candidate Downgraded
Predicted Opening Price for Clearside BioMedical, Inc of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $1.34 ( 2.16%) | $1.31 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CLSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.53 | 17.05 % | |
| R2 | 1.46 | 11.36 % | ||
| R1 | 1.41 | 7.85 % | ||
| Current price: | 1.31 | |||
| Support | S1 | 1.26 | -3.52 % | |
| S2 | 1.22 | -7.04 % | ||
| S3 | 1.14 | -12.72 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.63 | 24.43 % | |
| R2 | 1.56 | 19.08 % | ||
| R1 | 1.51 | 15.27 % | ||
| Current price | 1.31 | |||
| Support | S1 | 1.30 | -0.763% | |
| S2 | 1.29 | -1.53% | ||
| S3 | 1.25 | -4.58% |
FAQ
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