To The Moon

The Clover Health Investments stock $Clover Health Corp(CLOV)$ price gained 4.51% on Wednesday, 9th Aug 2023, rising from $1.33 to $1.39. During the last trading day the stock fluctuated 19.85% from a day low at $1.36 to a day high of $1.63. The price has risen in 6 of the last 10 days and is up by 21.93% 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, 12 million more shares were traded than the day before. In total, 21 million shares were bought and sold for approximately $28.58 million.

The stock has broken the very wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $1.31, a level that may pose a second chance to hit a runner. According to fan-theory $1.74 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.

CLOV Signals & Forecast

The Clover Health Investments 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 $1.32 and $1.05. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, July 06, 2023, and so far it has risen 78.85%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Clover Health Investments stock

On the downside, the stock finds support just below today's level from accumulated volume at $1.17 and $1.15. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Clover Health Investments finds support just below today's level at $1.17. If this is broken, then the next support from accumulated volume will be at $1.15 and $1.06.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.270 between high and low, or 19.85%. For the last week, the stock has had daily average volatility of 12.78%.

Our recommended stop-loss: $1.34 (-3.68%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 24 days ago.)

Trading Expectations (CLOV) For The Trading Day Of Thursday 10th

For the trading day on Thursday, 10th we expect Clover Health Investments, Corp. to open at $1.46, and during the day (based on 14 day Average True Range), to move between $1.28 and $1.50, which gives a possible trading interval of +/-$0.113 (+/-8.11%) up or down from last closing price. If Clover Health Investments, Corp. takes out the full calculated possible swing range there will be an estimated 16.22% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $1.17, some $0.220 (15.83%) from the current price of $1.39, our system finds the risk reward attractive.

Insiders are positive as most new trades are buy in Clover Health Investments

In the last 100 trades there were 40.37 million shares bought and 124.84 million shares sold. The last trade was made 16 days ago by Leffler Scott J. who sold 387.17 thousand shares. For the period there is more stocks sold than bought, but the most of the latest transactions are buy. This can indicate renewed interest by the insider, but also stock options expiring

Is Clover Health Investments, Corp. stock A Buy?

Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Clover Health Investments stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.