CLEARFIELD INC (CLFD) Stock Technical Analysis
NASDAQ:CLFD - Nasdaq - US18482P1030 - Common Stock - Currency: USD
We assign a technical rating of 9 out of 10 to CLFD. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, CLFD is showing a nice and steady performance.
Besides having an excellent technical rating, CLFD also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. There is very little resistance above the current price. There is a support zone below the current price at 38.29, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for CLFD in the last couple of days, which is a good sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
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2 important support areas can be observed.
- A support zone ranging from 37.80 to 38.29. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 25.32 to 25.58. This zone is formed by a combination of multiple trend lines in the weekly time frame.
When analyzing the resistance we notice 4 important areas.
- Resistance @38.93 from a trend line in the daily time frame.
- Resistance @39.79 from a horizontal line in the weekly time frame.
- Resistance @40.72 from a horizontal line in the daily time frame.
- A resistance zone ranging from 41.62 to 41.63. This zone is formed by a combination of multiple trend lines in the weekly time frame.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for CLFD is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for CLFD is up. |
| ChartMill Relative Strength | 83.95 | POSITIVE | CLFD has a high relative strength, it outperformed 83.95% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of CLFD is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of CLFD is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | MIXED | The current price of CLFD is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 71.06 | OVERBOUGHT | The high RSI value suggests CLFD may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.32 | POSITIVE | The MACD value suggests CLFD has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 84.38 | OVERBOUGHT | The high Stochastics value suggests CLFD may be overbought. |
| Average True Range in percent/ATR (20) | 4.08 | MEDIUM VOLATILITY | The ATR as a percentage value for CLFD suggests some volalility. |
| Average Directional Index/ADX (14) | 39.77 | POSITIVE | The high ADX value value for CLFD suggests a strong trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 38.94 | 37.79 | 1.15 (2.95%) | 25.00% |
| An entry @38.94. This is a Buy Stop order right above the resistance zone. | An exit @37.79. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 1.15 points, which is 2.95%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.74%. |
- The distance between exit and entry is rather small compared to the average daily movement of CLFD. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
38.3
-0.59 (-1.52%)