RY 174.39 2.4016% SHOP 149.115 2.5974% TD-PFM 24.63 -0.0811% TD-PFL 24.7 0.2028% TD 78.325 0.1214% ENB 60.6 1.3039% BN 80.4 1.9787% TRI 226.27 0.7525% CNQ 48.285 2.2771% CP 104.53 1.6038% CNR 151.74 1.5459% BMO 132.69 0.9203% BNS 78.845 0.1715% CSU 4600.2002 2.157% CM 91.15 0.474% MFC 45.79 1.6878% ATD 78.38 1.5285% NGT 60.14 0.0499% TRP 70.15 1.977% SU 57.44 0.5954%
Clearfield, Inc.
Company Overview: Clearfield, Inc. (NASDAQ: CLFD) Clearfield, Inc. engages in the design, manufacture, and distribution of fiber protection. It operates through the Clearfield and Nestor Cable segment. The Clearfield segment involves the design, manufacture, and selling of fiber management, protection, and delivery solutions.
As per our previous US American Technology report published on ‘CLFD’ on 12th December 2023, Kalkine provided an ‘Buy’ stance on the stock at USD 27.47 based on “expected valuation upside, lower balance sheet risk, and trading levels” and the stock price has now moved by ~43.67% since then and has attained resistance 1 and resistance 2.
Noted below are the details of support and resistance levels provided in our previous report:
CLFD’s Daily Chart
CLFD’s Technical Price Chart. Source: REFINITIV, Analysis by Kalkine Group
Considering the current trading levels, resistance 1 and resistance 2 attainment, risks associated, and volatile market conditions on the back of higher interest rates, an ‘Sell’ rating is assigned to the “CLFD” at the current market price of USD 39.46 (as of 03 May 2024 at 07:01AM PDT).
Note: This report may be updated with details around fundamental and technical analysis, price/ chart in due course, as appropriate
Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is May 03, 2024. The reference data in this report has been partly sourced from REFINITIV.
Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.
Note 4: Target Price refers to a price level that the stock is expected to reach as per the relative valuation method and or technical analysis taking into consideration both short-term and long-term scenarios.
Note 5: ‘Kalkine reports are prepared based on the stock prices captured either from the New York Stock Exchange (NYSE), NASDAQ Capital Markets (NASDAQ), and or REFINITIV. Typically, all sources (NYSE, NASDAQ, or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.’
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