Cantargia AB (publ) Stock Forecast

Red day on Friday for Cantargia AB (publ) stock after losing 0.576%
(Updated on Apr 26, 2024)

CANTA.ST Signals & Forecast

The Cantargia AB (publ) stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately kr3.64. On a fall, the stock will find some support from the long-term average at approximately kr3.44. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Wednesday, April 10, 2024, and so far it has fallen -24.18%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.

Support, Risk & Stop-loss for Cantargia AB (publ) stock

Cantargia AB (publ) finds support from accumulated volume at kr3.37 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 kr0.174 between high and low, or 5.24%. For the last week the stock has had daily average volatility of 5.95%.

Our recommended stop-loss: kr3.23 (-6.30%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 12 days ago.)

Trading Expectations (CANTA.ST) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect Cantargia AB (publ) to open at kr3.42, and during the day (based on 14 day Average True Range), to move between kr3.17 and kr3.73, which gives a possible trading interval of +/-kr0.277 (+/-8.04%) up or down from last closing price. If Cantargia AB (publ) takes out the full calculated possible swing range there will be an estimated 16.08% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at kr3.37 (2.26%) than the resistance at kr4.15 (20.29%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Cantargia AB (publ) stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Cantargia AB (publ) stock to perform well in the short-term.

Current score: 2.307 Buy Candidate Unchanged

Predicted Opening Price for Cantargia AB (publ) of Monday, April 29, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.