Makena Resources Inc Stock Forecast
Green day on Friday for Makena Resources Inc
(Updated on Apr 26, 2024)
The Makena Resources Inc stock price gained 0.394% on the last trading day (Friday, 26th Apr 2024), rising from $0.0635 to $0.0637. During the last trading day the stock fluctuated 4.26% from a day low at $0.0611 to a day high of $0.0637. The price has been going up and down for this period, and there has been a -3.92% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 24 thousand more shares were traded than the day before. In total, 25 thousand shares were bought and sold for approximately $1.59 thousand.
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 -25.64% during the next 3 months and, with a 90% probability hold a price between $0.0441 and $0.0589 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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CANSF Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 3.58%. Further rise is indicated until a new top pivot has been found. Makena Resources Inc 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Makena Resources Inc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $0.0688. On a fall, the stock will find some support from the short-term average at $0.0636. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Makena Resources Inc stock
Makena Resources Inc finds support from accumulated volume at $0.0635 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 a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0026 between high and low, or 4.26%. For the last week, the stock has had daily average volatility of 1.29%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CANSF) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Makena Resources Inc to open at $0.0628, and during the day (based on 14 day Average True Range), to move between $0.0616 and $0.0658, which gives a possible trading interval of +/-$0.0021 (+/-3.35%) up or down from last closing price. If Makena Resources Inc takes out the full calculated possible swing range there will be an estimated 6.71% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0635 (0.39%) than the resistance at $0.0645 (1.18%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Makena Resources Inc stock A Buy?
Makena Resources Inc 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: -1.637 Sell Candidate Unchanged
Predicted Opening Price for Makena Resources Inc of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $0.0628 ( 1.36%) | $0.0637 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CANSF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0654 | 2.72 % | |
| R2 | 0.0644 | 1.16 % | ||
| R1 | 0.0638 | 0.199 % | ||
| Current price: | 0.0637 | |||
| Support | S1 | 0.0618 | -2.92 % | |
| S2 | 0.0612 | -3.88 % | ||
| S3 | 0.0602 | -5.44 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0700 | 9.89 % | |
| R2 | 0.0696 | 9.26 % | ||
| R1 | 0.0645 | 1.18 % | ||
| Current price | 0.0637 | |||
| Support | S1 | 0.0635 | -0.392% | |
| S2 | 0.0615 | -3.45% | ||
| S3 | 0 | . |
FAQ
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