C4X Discovery Holdings PLC Stock Forecast
Red day on Friday for C4X Discovery Holdings PLC
(Updated on May 10, 2024)
No changes to the price of C4X Discovery Holdings PLC stock on the last trading day (Friday, 10th May 2024). During the last trading day the stock fluctuated 0% from a day low at £12.00 to a day high of £12.00. The price has been going up and down for this period, and there has been a 0% change for the last 2 weeks.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at £13.08 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -15.39% during the next 3 months and, with a 90% probability hold a price between £5.74 and £11.06 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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C4XD.L Signals & Forecast
The C4X Discovery Holdings PLC 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 £12.00 and £10.67. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, May 09, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. 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". The very low volume increases the risk and reduces the other technical signals issued.
A sell signal from a double top formation was found on Friday, March 22, 2024 with a target of £12.58. Despite whether the objective of the signal formation has been reached the stock may continue to fall.
Support, Risk & Stop-loss for C4X Discovery Holdings PLC stock
On the downside, the stock finds support just below today's level from accumulated volume at £11.23 and £10.00. 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, C4X Discovery Holdings PLC finds support just below today's level at £11.23. If this is broken, then the next support from accumulated volume will be at £10.00 and £9.43.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved £0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0%
The C4X Discovery Holdings PLC stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: £11.64 (-3.02%) (This stock has low daily movements and this gives low risk. The RSI14 is 99 and this increases the risk substantially. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (C4XD.L) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect C4X Discovery Holdings PLC to open at £12.00, and during the day (based on 14 day Average True Range), to move between £11.19 and £12.81, which gives a possible trading interval of +/-£0.81 (+/-6.75%) up or down from last closing price. If C4X Discovery Holdings PLC takes out the full calculated possible swing range there will be an estimated 13.51% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £11.23 (6.46%) than the resistance at £13.00 (8.33%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is C4X Discovery Holdings PLC stock A Buy?
C4X Discovery Holdings PLC 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.
Current score: 0.000 Hold/Accumulate Unchanged
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 C4X Discovery Holdings PLC of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| £12.00 ( 0%) | £12.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for C4XD.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.00 | . | |
| R2 | 12.00 | . | ||
| R1 | 12.00 | . | ||
| Current price: | 12.00 | |||
| Support | S1 | 12.00 | . | |
| S2 | 12.00 | . | ||
| S3 | 12.00 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.33 | 19.38 % | |
| R2 | 14.00 | 16.67 % | ||
| R1 | 13.00 | 8.33 % | ||
| Current price | 12.00 | |||
| Support | S1 | 11.23 | -6.46% | |
| S2 | 10.00 | -16.67% | ||
| S3 | 9.43 | -21.42% |
FAQ
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