Carnavale Resources Ltd Stock Forecast
Red day on Wednesday for Carnavale Resources Ltd
(Updated on Jun 26, 2024)
No changes to the price of Carnavale Resources Ltd stock on the last trading day (Wednesday, 26th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at A$0.0040 to a day high of A$0.0040. The price has been going up and down for this period, and there has been a -20% loss for the last 2 weeks.
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 -16.10% during the next 3 months and, with a 90% probability hold a price between A$0.0027 and A$0.0046 at the end of this 3-month period.
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CAV.AX Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 20, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Carnavale Resources Ltd stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at A$0.0043 and A$0.0050. A break-up above any of these levels will issue buy signals. 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 Carnavale Resources Ltd stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 between high and low, or 0%. For the last week the stock has had daily average volatility of 0%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CAV.AX) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Carnavale Resources Ltd to open at A$0.0040, and during the day (based on 14 day Average True Range), to move between A$0.0036 and A$0.0044, which gives a possible trading interval of +/-A$0.0004 (+/-9.25%) up or down from last closing price. If Carnavale Resources Ltd takes out the full calculated possible swing range there will be an estimated 18.50% move between the lowest and the highest trading price during the day.
Is Carnavale Resources Ltd stock A Buy?
Carnavale Resources Ltd holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -4.295 Sell Candidate Unchanged
Predicted Opening Price for Carnavale Resources Ltd of Thursday, June 27, 2024
Fair opening price June 27, 2024 | Current price |
---|---|
A$0.0040 ( 0%) | A$0.0040 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CAV.AX
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.0040 | - |
R2 | 0.0040 | - |
R1 | 0.0040 | - |
Price | 0.0040 | |
S1 | 0.0040 | - |
S2 | 0.0040 | - |
S3 | 0.0040 | - |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0 | - |
R2 | 0 | - |
R1 | 0 | - |
Price | 0.0040 | |
S1 | 0 | - |
S2 | 0 | - |
S3 | 0 | - |
FAQ
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