Capitol Health Ltd Stock Forecast
Capitol Health Ltd stock downgraded to Hold/Accumulate
(Updated on Jun 28, 2024)
The Capitol Health Ltd stock price gained 1.61% on the last trading day (Friday, 28th Jun 2024), rising from A$0.310 to A$0.315. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 3.28% from a day low at A$0.305 to a day high of A$0.315. The price has risen in 7 of the last 10 days and is up by 28.57% over the past 2 weeks. Volume fell on the last day by -751 thousand shares and in total, 2 million shares were bought and sold for approximately A$684.88 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock has broken the 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 A$0.287, a level that may pose a second chance to hit a runner. According to fan-theory A$0.329 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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CAJ.AX Signals & Forecast
The Capitol Health Ltd 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 A$0.305 and A$0.260. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, June 12, 2024, and so far it has risen 34.04%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Capitol Health Ltd stock
Capitol Health Ltd finds support from accumulated volume at A$0.300 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 much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved A$0.0100 between high and low, or 3.28%. For the last week the stock has had daily average volatility of 2.46%.
The Capitol Health Ltd stock is extremely overbought on RSI14 (89). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: A$0.306 (-2.72%) (This stock has high daily movements and this gives high risk. The RSI14 is 89 and this increases the risk substantially. There is a buy signal from a pivot bottom found 31 days ago.)
Trading Expectations (CAJ.AX) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Capitol Health Ltd to open at A$0.312, and during the day (based on 14 day Average True Range), to move between A$0.304 and A$0.326, which gives a possible trading interval of +/-A$0.0107 (+/-3.39%) up or down from last closing price. If Capitol Health Ltd takes out the full calculated possible swing range there will be an estimated 6.79% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ A$0.300, some A$0.0150 (4.76%) from the current price of A$0.315, our system finds the risk reward attractive.
Is Capitol Health Ltd stock A Buy?
Capitol Health Ltd 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 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 Capitol Health Ltd of Monday, July 1, 2024
Fair opening price July 1, 2024 | Current price |
---|---|
A$0.312 ( 1.06%) | A$0.315 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CAJ.AX
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.322 | 2.12% |
R2 | 0.318 | 0.90% |
R1 | 0.315 | 0.154% |
Price | 0.315 | |
S1 | 0.308 | -2.27% |
S2 | 0.305 | -3.02% |
S3 | 0.302 | -4.23% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0 | - |
R2 | 0 | - |
R1 | 0 | - |
Price | 0.315 | |
S1 | 0.300 | -4.76% |
S2 | 0.245 | -22.22% |
S3 | 0.240 | -23.81% |
CAJ Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 06, 2024 | Mar 06, 2024 | Mar 06, 2024 | A$0.0050 | 1.89% |
2 | Sep 21, 2023 | Sep 21, 2023 | Oct 20, 2023 | A$0.0050 | 2.56% |
3 | Mar 01, 2023 | Mar 01, 2023 | Mar 31, 2023 | A$0.0050 | 1.85% |
4 | Sep 21, 2022 | Sep 21, 2022 | Oct 21, 2022 | A$0.0050 | 1.52% |
5 | Mar 03, 2022 | Mar 03, 2022 | Apr 01, 2022 | A$0.0050 | 1.45% |
FAQ
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