Cadence Minerals Plc Stock Forecast
Cadence Minerals Plc stock price down 0% on Tuesday
(Updated on Apr 30, 2024)
No changes to the price of Cadence Minerals Plc stock on the last trading day (Tuesday, 30th Apr 2024). During the last trading day the stock fluctuated 5.88% from a day low at £3.40 to a day high of £3.60. The price has fallen in 4 of the last 10 days and is down by -2.78% for this period.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -25.94% during the next 3 months and, with a 90% probability hold a price between £2.07 and £3.77 at the end of this 3-month period.
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KDNC.L Signals & Forecast
There are mixed signals in the stock today. The Cadence Minerals Plc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at £3.54 and £4.35. A break-up above any of these levels will issue buy signals. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". A buy signal was issued from a pivot bottom point on Monday, April 08, 2024, and so far it has risen 7.69%. 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).
Support, Risk & Stop-loss for Cadence Minerals Plc stock
Cadence Minerals Plc finds support from accumulated volume at £3.40 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved £0.200 between high and low, or 5.88%. For the last week the stock has had daily average volatility of 6.05%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (KDNC.L) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect Cadence Minerals Plc to open at £3.50, and during the day (based on 14 day Average True Range), to move between £3.12 and £3.88, which gives a possible trading interval of +/-£0.380 (+/-10.87%) up or down from last closing price. If Cadence Minerals Plc takes out the full calculated possible swing range there will be an estimated 21.73% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £3.55 (1.43%) than the support at £3.40 (2.86%), 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 Cadence Minerals Plc stock A Buy?
Cadence Minerals Plc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -3.635 Sell Candidate Unchanged
Predicted Opening Price for Cadence Minerals Plc of Wednesday, May 1, 2024
Fair opening price May 1, 2024 | Current price |
---|---|
£3.50 ( 0%) | £3.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KDNC.L
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 3.70 | 5.71 % | |
R2 | 3.62 | 3.53 % | ||
R1 | 3.58 | 2.18 % | ||
Current price: | 3.50 | |||
Support | S1 | 3.42 | -2.18 % | |
S2 | 3.38 | -3.53 % | ||
S3 | 3.30 | -5.71 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 3.70 | 5.71 % | |
R2 | 3.67 | 4.86 % | ||
R1 | 3.55 | 1.43 % | ||
Current price | 3.50 | |||
Support | S1 | 3.40 | -2.86% | |
S2 | 3.25 | -7.14% | ||
S3 | 0 | . |
FAQ
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