Cardno Limited Stock Forecast

High volatility in Cardno Limited stock price on Friday which ended trading at $0.385
(Updated on May 24, 2024)

CDD.AX Signals & Forecast

The Cardno Limited 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 $0.371 and $0.329. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Wednesday, May 22, 2024, and so far it has fallen -15.38%. Further fall is indicated until a new bottom pivot has been found. 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 Cardno Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.320 and $0.295. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Cardno Limited finds support just below today's level at $0.320. If this is broken, then the next support from accumulated volume will be at $0.295 and $0.290.

This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0650 between high and low, or 20.31%. For the last week the stock has had daily average volatility of 14.39%.

Our recommended stop-loss: $0.366 (-4.97%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 24 days ago.)

Trading Expectations (CDD.AX) For The Upcoming Trading Day Of Monday 27th

For the upcoming trading day on Monday, 27th we expect Cardno Limited to open at $0.363, and during the day (based on 14 day Average True Range), to move between $0.346 and $0.424, which gives a possible trading interval of +/-$0.0386 (+/-10.04%) up or down from last closing price. If Cardno Limited takes out the full calculated possible swing range there will be an estimated 20.08% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.420 (9.09%) than the support at $0.320 (16.88%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Cardno Limited stock A Buy?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 2.219 Buy Candidate Upgraded

Predicted Opening Price for Cardno Limited of Monday, May 27, 2024

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