Cantargia AB (publ) Stock Forecast

Red day on Monday for Cantargia AB (publ)
(Updated on May 06, 2024)

CANTA.ST Signals & Forecast

There are mixed signals in the stock today. The Cantargia AB (publ) 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 kr3.54. On a fall, the stock will find some support from the short-term average at kr3.39. 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. A sell signal was issued from a pivot top point on Friday, May 03, 2024, and so far it has fallen 0%. 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 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.

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.

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 kr0 between high and low, or 0%. For the last week the stock has had daily average volatility of 5.21%

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (CANTA.ST) For The Upcoming Trading Day Of Tuesday 7th

For the upcoming trading day on Tuesday, 7th 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 kr3.66, which gives a possible trading interval of +/-kr0.244 (+/-7.14%) up or down from last closing price. If Cantargia AB (publ) takes out the full calculated possible swing range there will be an estimated 14.27% 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 (1.35%) than the resistance at kr4.15 (21.42%), 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?

Cantargia AB (publ) 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: -3.170 Sell Candidate Unchanged

Predicted Opening Price for Cantargia AB (publ) of Tuesday, May 7, 2024

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