Explanation to Bollinger's Bands

Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.

Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.

Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation

BandWidth defines the current width of the band.
%b defines the current position within the band.

BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)

Live Samples:

Bollinger Bottleneck Buy Pattern 1
Bollinger Bottleneck Buy Pattern 2
Bollinger Bottleneck Sell Pattern

Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.

Source: http://www.bollingerbands.com

RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of CRVL
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Stronger technical forecast for CorVel Corp. stock price after Thursday trading.
(Updated on Mar 28, 2024)

Buy candidate since Mar 19, 2024 Gain 5.53% PDF

The CorVel Corp. stock price gained 1.68% on the last trading day (Thursday, 28th Mar 2024), rising from $258.61 to $262.96. 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 1.93% from a day low at $259.88 to a day high of $264.90. The price has risen in 6 of the last 10 days and is up by 6.07% 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, 3 thousand more shares were traded than the day before. In total, 33 thousand shares were bought and sold for approximately $8.70 million.

The stock lies in the upper part of a wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $269.18 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 7.78% during the next 3 months and, with a 90% probability hold a price between $256.58 and $290.13 at the end of this 3-month period.

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CRVL Signals & Forecast

Mostly positive signals in the chart today. The CorVel Corp. 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 $257.91 and $246.64. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 06, 2024, and so far it has risen 12.88%. 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). Volume is rising along with the price. This is considered to be a good technical signal.

Support, Risk & Stop-loss for CorVel Corp. stock

CorVel Corp. finds support from accumulated volume at $260.89 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 $5.02 between high and low, or 1.93%. For the last week, the stock has had daily average volatility of 2.29%.

The CorVel Corp. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: $251.84 (-4.23%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 87 and this increases the risk substantially. There is a buy signal from a pivot bottom found 16 days ago.)

Trading Expectations (CRVL) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect CorVel Corp. to open at $262.58, and during the day (based on 14 day Average True Range), to move between $255.80 and $270.12, which gives a possible trading interval of +/-$7.16 (+/-2.72%) up or down from last closing price. If CorVel Corp. takes out the full calculated possible swing range there will be an estimated 5.44% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $260.89, some $2.07 (0.79%) from the current price of $262.96, our system finds the risk reward attractive.

Is CorVel Corp. stock A Buy?

CorVel Corp. holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

Current score: 6.056 Strong Buy Candidate Upgraded

Predicted Opening Price for CorVel Corp. of Monday, April 1, 2024

Fair opening price April 1, 2024 Current price
$262.58 ( 0.145%) $262.96

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

Trading levels for CRVL

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 267.60 1.76 %
R2 265.68 1.04 %
R1 264.50 0.585 %
Current price: 262.96
Support S1 260.66 -0.87 %
S2 259.48 -1.32 %
S3 257.56 -2.05 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 0 .
R2 0 .
R1 0 .
Current price 262.96
Support S1 260.89 -0.787%
S2 247.91 -5.72%
S3 247.40 -5.92%

FAQ

What is the symbol for CorVel Corp. Stock and on which exchange is it traded?
The symbol for CorVel Corp. is CRVL and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell CorVel Corp. Stock?
CorVel Corp. holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

How to buy CorVel Corp. Stock?
CorVel Corp. Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy CorVel Corp. Stock.

What's the current price of CorVel Corp. Stock?
As of the end of day on the 2024-03-28, the price of an CorVel Corp. (CRVL) share was $262.96.

What is the 52-week high and low for CorVel Corp. Stock?
The 52-week high for CorVel Corp. Stock is $265.14 and the 52-week low is $187.89.

What is the market capitalization of CorVel Corp. Stock?
As of the 2024-03-28, the market capitalization of CorVel Corp. is 4.388B.

When is the next earnings date for CorVel Corp.?
The upcoming earnings date for CorVel Corp. is May 23, 2024.
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About CorVel Corp.

CorVel . CorVel Corporation provides workers' compensation, auto, liability, and health solutions for employers, third party administrators, insurance companies, and government agencies to assist them in managing the medical costs and monitoring the quality of care associated with healthcare claims. It applies technology, including artificial intelligence, machine learning, and natural language processing to enhance the managing of episodes of care and th... CRVL Profile

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