Cardno Limited Stock Forecast
Green day on Friday for Cardno Limited
(Updated on Jun 14, 2024)
The Cardno Limited stock price gained 1.54% on the last trading day (Friday, 14th Jun 2024), rising from $0.325 to $0.330. During the last trading day the stock fluctuated 6.15% from a day low at $0.325 to a day high of $0.345. The price has fallen in 4 of the last 10 days and is down by -8.33% for this period. Volume fell on the last day by -29 thousand shares and in total, 6 thousand shares were bought and sold for approximately $1.85 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 -9.60% during the next 3 months and, with a 90% probability hold a price between $0.188 and $0.511 at the end of this 3-month period.
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CDD.AX Signals & Forecast
There are few to no technical positive signals at the moment. The Cardno Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $0.343 and $0.332. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 22, 2024, and so far it has fallen -27.47%. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Cardno Limited stock
Cardno Limited finds support from accumulated volume at $0.320 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 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 $0.0200 between high and low, or 6.15%. For the last week the stock has had daily average volatility of 4.77%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CDD.AX) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect Cardno Limited to open at $0.333, and during the day (based on 14 day Average True Range), to move between $0.307 and $0.353, which gives a possible trading interval of +/-$0.0231 (+/-7.01%) up or down from last closing price. If Cardno Limited takes out the full calculated possible swing range there will be an estimated 14.01% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.320 (3.03%) than the resistance at $0.360 (9.09%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Cardno Limited stock A Buy?
Cardno Limited 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: -3.424 Sell Candidate Unchanged
Predicted Opening Price for Cardno Limited of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| $0.333 ( 1.01%) | $0.330 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CDD.AX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.353 | 7.07% |
| R2 | 0.346 | 4.76% |
| R1 | 0.341 | 3.33% |
| Price | 0.330 | |
| S1 | 0.326 | -1.31% |
| S2 | 0.321 | -2.74% |
| S3 | 0.313 | -5.05% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.385 | 16.67% |
| R2 | 0.365 | 10.61% |
| R1 | 0.360 | 9.09% |
| Price | 0.330 | |
| S1 | 0.320 | -3.03% |
| S2 | 0.295 | -10.61% |
| S3 | 0.250 | -24.24% |
CDD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 24, 2024 | May 24, 2024 | Jun 24, 2024 | $0.100 | 30.30% |
| 2 | Apr 10, 2024 | Apr 10, 2024 | Apr 29, 2024 | $0.276 | 93.56% |
| 3 | Jul 06, 2022 | Jul 06, 2022 | Jul 06, 2022 | $1.70 | 524.31% |
| 4 | Jun 29, 2022 | Jun 29, 2022 | Jun 29, 2022 | $1.21 | 72.46% |
| 5 | Dec 14, 2021 | Dec 14, 2021 | Dec 14, 2021 | $5.70 | 271.43% |
FAQ
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