Clearwater Paper Corporation Stock Forecast
Red day on Wednesday for Clearwater Paper Corporation
(Updated on Apr 17, 2024)
The Clearwater Paper Corporation stock price fell by -0.86% on the last day (Wednesday, 17th Apr 2024) from $39.56 to $39.22. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 2.05% from a day low at $39.05 to a day high of $39.85. The price has fallen in 9 of the last 10 days and is down by -7.87% for this period. 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 -5 thousand shares and in total, 103 thousand shares were bought and sold for approximately $4.04 million.
Given the current short-term trend, the stock is expected to rise 30.71% during the next 3 months and, with a 90% probability hold a price between $51.26 and $60.65 at the end of this 3-month period.
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CLW Signals & Forecast
There are few to no technical positive signals at the moment. The Clearwater Paper Corporation 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 $40.19 and $40.92. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 27, 2024, and so far it has fallen -10.74%. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Clearwater Paper Corporation stock
Clearwater Paper Corporation finds support from accumulated volume at $38.93 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.80 between high and low, or 2.05%. For the last week, the stock has had daily average volatility of 2.18%.
Clearwater Paper Corporation is oversold on RSI14 (1). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CLW) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Clearwater Paper Corporation to open at $39.37, and during the day (based on 14 day Average True Range), to move between $38.22 and $40.22, which gives a possible trading interval of +/-$1.00 (+/-2.55%) up or down from last closing price. If Clearwater Paper Corporation takes out the full calculated possible swing range there will be an estimated 5.10% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $38.93 (0.74%) than the resistance at $39.68 (1.17%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Clearwater Paper Corporation stock A Buy?
The Clearwater Paper Corporation stock holds several negative signals and despite the positive trend, we believe Clearwater Paper Corporation will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.691 Sell Candidate Unchanged
Predicted Opening Price for Clearwater Paper Corporation of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| $39.37 ( 0.392%) | $39.22 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CLW
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 40.18 | 2.44 % | |
| R2 | 39.87 | 1.65 % | ||
| R1 | 39.68 | 1.17 % | ||
| Current price: | 39.22 | |||
| Support | S1 | 39.07 | -0.388 % | |
| S2 | 38.88 | -0.87 % | ||
| S3 | 38.57 | -1.65 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 40.98 | 4.49 % | |
| R2 | 40.76 | 3.93 % | ||
| R1 | 39.68 | 1.17 % | ||
| Current price | 39.22 | |||
| Support | S1 | 38.93 | -0.739% | |
| S2 | 38.61 | -1.56% | ||
| S3 | 37.41 | -4.61% |
FAQ
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