Charles River Laboratories International Stock Forecast
Green day on Friday for Charles River Laboratories International
(Updated on Apr 26, 2024)
The Charles River Laboratories International stock price gained 0.536% on the last trading day (Friday, 26th Apr 2024), rising from $227.81 to $229.03. During the last trading day the stock fluctuated 1.53% from a day low at $227.39 to a day high of $230.86. The price has fallen in 7 of the last 10 days and is down by -5.1% for this period. Volume fell on the last day by -439 thousand shares and in total, 312 thousand shares were bought and sold for approximately $71.40 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower part of a 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 $228.22 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 6.81% during the next 3 months and, with a 90% probability hold a price between $243.77 and $299.77 at the end of this 3-month period.
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CRL Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 0.99%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Charles River Laboratories International 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 $231.90 and $252.90. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Charles River Laboratories International stock
Charles River Laboratories International finds support from accumulated volume at $227.81 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 $3.47 between high and low, or 1.53%. For the last week, the stock has had daily average volatility of 3.08%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CRL) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Charles River Laboratories International Inc to open at $229.09, and during the day (based on 14 day Average True Range), to move between $221.80 and $236.26, which gives a possible trading interval of +/-$7.23 (+/-3.15%) up or down from last closing price. If Charles River Laboratories International Inc takes out the full calculated possible swing range there will be an estimated 6.31% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $227.81 (0.53%) than the resistance at $245.12 (7.03%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Charles River Laboratories International Inc stock A Buy?
The Charles River Laboratories International stock holds several negative signals and despite the positive trend, we believe Charles River Laboratories International will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.479 Sell Candidate Unchanged
Predicted Opening Price for Charles River Laboratories International Inc of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $229.09 ( 0.0277%) | $229.03 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CRL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 232.56 | 1.54 % | |
| R2 | 231.24 | 0.96 % | ||
| R1 | 230.42 | 0.606 % | ||
| Current price: | 229.03 | |||
| Support | S1 | 227.77 | -0.551 % | |
| S2 | 226.95 | -0.91 % | ||
| S3 | 225.62 | -1.49 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 246.90 | 7.80 % | |
| R2 | 245.40 | 7.15 % | ||
| R1 | 245.12 | 7.03 % | ||
| Current price | 229.03 | |||
| Support | S1 | 227.81 | -0.533% | |
| S2 | 227.55 | -0.646% | ||
| S3 | 220.24 | -3.84% |
FAQ
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