Weaker technical forecast for Cadiz as stock downgraded to Sell Candidate.
(Updated on Oct 15, 2021)
Sell candidate since 2021-10-15 PDF
The Cadiz stock price fell by -1.61% on the last day (Friday, 15th Oct 2021) from $7.46 to $7.34. During the day the stock fluctuated 3.28% from a day low at $7.31 to a day high of $7.55. The price has risen in 6 of the last 10 days and is up by 7.78% over the past 2 weeks. 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 -141 thousand shares and in total, 195 thousand shares were bought and sold for approximately $1.43 million.
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 -48.97% during the next 3 months and, with a 90% probability hold a price between $2.76 and $4.76 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, October 04, 2021, and so far it has risen 10.21%. Further rise is indicated until a new top pivot has been found. 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. The Cadiz 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 $8.94. On a fall, the stock will find some support from the short-term average at $7.17. 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. 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
On the downside, the stock finds support just below today's level from accumulated volume at $6.81 and $6.78. There is 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, Cadiz finds support just below today's level at $6.81. If this is broken, then the next support from accumulated volume will be at $6.78 and $6.71.
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 $0.24 between high and low, or 3.28%. For the last week the stock has had a daily average volatility of 4.08%.
Our recommended stop-loss: We hold an negative evaluation for this stock. No stop-loss is set.
Is Cadiz stock A Buy?
Cadiz 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.989
Predicted Opening Price for Cadiz of Monday, October 18, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price October 18, 2021||Current price|
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