Cardno Limited Stock Forecast
Cardno Limited stock price down 4.00% on Tuesday
(Updated on Jun 25, 2024)
The Cardno Limited stock price fell by -4.00% on the last day (Tuesday, 25th Jun 2024) from $0.375 to $0.360. During the last trading day the stock fluctuated 4.17% from a day low at $0.360 to a day high of $0.375. The price has risen in 6 of the last 10 days but is still down by -1.37% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -33 thousand shares and in total, 8 thousand shares were bought and sold for approximately $2.82 thousand.
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 -3.77% during the next 3 months and, with a 90% probability hold a price between $0.219 and $0.568 at the end of this 3-month period.
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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 $0.347 and $0.343. A breakdown below any of these levels will issue sell signals. 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 -20.88%. 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. The very low volume increases the risk and reduces the other technical signals issued.
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 has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0150 between high and low, or 4.17%. For the last week the stock has had daily average volatility of 5.19%.
Our recommended stop-loss: $0.339 (-5.86%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 45 days ago.)
Trading Expectations (CDD.AX) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Cardno Limited to open at $0.365, and during the day (based on 14 day Average True Range), to move between $0.337 and $0.383, which gives a possible trading interval of +/-$0.0227 (+/-6.32%) up or down from last closing price. If Cardno Limited takes out the full calculated possible swing range there will be an estimated 12.64% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.365 (1.39%) than the support at $0.320 (11.11%), 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.
Current score: 2.310 Buy Candidate Unchanged
Predicted Opening Price for Cardno Limited of Wednesday, June 26, 2024
Fair opening price June 26, 2024 | Current price |
---|---|
$0.365 ( 1.39%) | $0.360 |
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 | 0.380 | 5.56% |
R2 | 0.374 | 3.96% |
R1 | 0.371 | 2.98% |
Price | 0.360 | |
S1 | 0.359 | -0.203% |
S2 | 0.356 | -1.19% |
S3 | 0.350 | -2.78% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.420 | 16.67% |
R2 | 0.385 | 6.94% |
R1 | 0.365 | 1.39% |
Price | 0.360 | |
S1 | 0.320 | -11.11% |
S2 | 0.295 | -18.06% |
S3 | 0.290 | -19.44% |
CDD Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 24, 2024 | May 24, 2024 | Jun 24, 2024 | $0.100 | 26.67% |
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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