Cruz Cobalt Corp. Stock Forecast
Volatile ride for Cruz Cobalt Corp. stock price on Thursday moving between $0.0193 and $0.0449
(Updated on May 30, 2024)
The Cruz Cobalt Corp. stock price gained 17.10% on the last trading day (Thursday, 30th May 2024), rising from $0.0290 to $0.0340. During the last trading day the stock fluctuated 132.64% from a day low at $0.0193 to a day high of $0.0449. The price has risen in 5 of the last 10 days and is up by 42.09% 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, 1 million more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $41.98 thousand.
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 $0.0282, a level that may pose a second chance to hit a runner. According to fan-theory $0.0346 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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BKTPF Signals & Forecast
The Cruz Cobalt Corp. 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 $0.0276 and $0.0245. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 69.80%. 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). Cruz Cobalt Corp. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Cruz Cobalt Corp. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0290 and $0.0274. 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, Cruz Cobalt Corp. finds support just below today's level at $0.0290. If this is broken, then the next support from accumulated volume will be at $0.0274 and $0.0273.
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 $0.0256 between high and low, or 132.64%. For the last week, the stock has had daily average volatility of 29.97%.
Our recommended stop-loss: $0.0325 (-4.26%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 21 days ago.)
Trading Expectations (BKTPF) For The Upcoming Trading Day Of Friday 31st
For the upcoming trading day on Friday, 31st we expect Cruz Cobalt Corp. to open at $0.0327, and during the day (based on 14 day Average True Range), to move between $0.0300 and $0.0380, which gives a possible trading interval of +/-$0.0040 (+/-11.80%) up or down from last closing price. If Cruz Cobalt Corp. takes out the full calculated possible swing range there will be an estimated 23.60% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $0.0290, some $0.0050 (14.61%) from the current price of $0.0340, our system finds the risk reward attractive.
Earnings coming up
Cruz Cobalt Corp. will release earnings BMO on Thursday, June 06, 2024. We will update the financials statements for Cruz Cobalt Corp., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.73% in the first trading day after earnings release.
Is Cruz Cobalt Corp. stock A Buy?
Cruz Cobalt Corp. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Cruz Cobalt Corp. of Friday, May 31, 2024
| Fair opening price May 31, 2024 | Current price |
|---|---|
| $0.0327 ( 3.65%) | $0.0340 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BKTPF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0583 | 71.73 % | |
| R2 | 0.0485 | 42.94 % | ||
| R1 | 0.0425 | 25.14 % | ||
| Current price: | 0.0340 | |||
| Support | S1 | 0.0229 | -32.45 % | |
| S2 | 0.0169 | -50.24 % | ||
| S3 | 0.0071 | -79.03 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 0.0340 | |||
| Support | S1 | 0.0290 | -14.61% | |
| S2 | 0.0274 | -19.32% | ||
| S3 | 0.0273 | -19.76% |
FAQ
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