Ceragon Networks Ltd. Stock Forecast
Ceragon Networks Ltd. stock price ended at $3.20 on Thursday, after losing 0.621%.
(Updated on Mar 28, 2024)
The Ceragon Networks Ltd. stock price fell by -0.621% on the last day (Thursday, 28th Mar 2024) from $3.22 to $3.20. During the last trading day the stock fluctuated 3.13% from a day low at $3.19 to a day high of $3.29. The price has fallen in 5 of the last 10 days but is still up by 4.23% over the past 2 weeks. Volume has increased on the last day by 93 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 362 thousand shares were bought and sold for approximately $1.16 million.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 42.08% during the next 3 months and, with a 90% probability hold a price between $4.28 and $4.74 at the end of this 3-month period.
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CRNT Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Monday, March 25, 2024, and so far it has fallen -2.74%. 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). Ceragon Networks Ltd. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The Ceragon Networks Ltd. 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 $3.18 and $2.95. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Ceragon Networks Ltd. stock
Ceragon Networks Ltd. finds support from accumulated volume at $3.05 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 $0.100 between high and low, or 3.13%. For the last week, the stock has had daily average volatility of 3.98%.
Our recommended stop-loss: $3.08 (-3.63%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (CRNT) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Ceragon Networks Ltd. to open at $3.23, and during the day (based on 14 day Average True Range), to move between $3.08 and $3.32, which gives a possible trading interval of +/-$0.124 (+/-3.87%) up or down from last closing price. If Ceragon Networks Ltd. takes out the full calculated possible swing range there will be an estimated 7.74% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3.22 (0.63%) than the support at $3.05 (4.69%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Ceragon Networks Ltd. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Ceragon Networks Ltd. stock to perform well in the short-term.
Current score: 3.194 Buy Candidate Unchanged
Predicted Opening Price for Ceragon Networks Ltd. of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$3.23 ( 0.83%) | $3.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CRNT
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 3.33 | 3.96 % | |
R2 | 3.29 | 2.76 % | ||
R1 | 3.26 | 2.03 % | ||
Current price: | 3.20 | |||
Support | S1 | 3.19 | -0.360 % | |
S2 | 3.16 | -1.10 % | ||
S3 | 3.13 | -2.29 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 3.29 | 2.81 % | ||
R1 | 3.22 | 0.625 % | ||
Current price | 3.20 | |||
Support | S1 | 3.05 | -4.69% | |
S2 | 2.62 | -18.13% | ||
S3 | 2.52 | -21.25% |
FAQ
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