Cadiz Stock Forecast
Red day on Tuesday for Cadiz
(Updated on May 07, 2024)
The Cadiz stock price fell by -0.84% on the last day (Tuesday, 7th May 2024) from $2.38 to $2.36. During the last trading day the stock fluctuated 4.68% from a day low at $2.35 to a day high of $2.46. The price has risen in 5 of the last 10 days and is up by 5.36% over the past 2 weeks. Volume has increased on the last day by 4 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 98 thousand shares were bought and sold for approximately $230.14 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 -21.54% during the next 3 months and, with a 90% probability hold a price between $1.55 and $2.03 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.
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CDZI Signals & Forecast
There are mixed signals in the stock today. 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 $2.43. On a fall, the stock will find some support from the short-term average at $2.32. 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. A sell signal was issued from a pivot top point on Thursday, May 02, 2024, and so far it has fallen -1.26%. Further fall is indicated until a new bottom pivot has been found. Cadiz gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Cadiz stock
Cadiz finds support from accumulated volume at $2.25 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.110 between high and low, or 4.68%. For the last week, the stock has had daily average volatility of 5.66%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CDZI) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Cadiz to open at $2.39, and during the day (based on 14 day Average True Range), to move between $2.25 and $2.47, which gives a possible trading interval of +/-$0.111 (+/-4.72%) up or down from last closing price. If Cadiz takes out the full calculated possible swing range there will be an estimated 9.44% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.45 (3.81%) than the support at $2.25 (4.66%), 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 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.
Current score: -2.563 Sell Candidate Unchanged
Predicted Opening Price for Cadiz of Wednesday, May 8, 2024
Fair opening price May 8, 2024 | Current price |
---|---|
$2.39 ( 1.27%) | $2.36 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CDZI
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.50 | 5.93 % | |
R2 | 2.46 | 4.15 % | ||
R1 | 2.43 | 3.05 % | ||
Current price: | 2.36 | |||
Support | S1 | 2.35 | -0.509 % | |
S2 | 2.32 | -1.61 % | ||
S3 | 2.28 | -3.39 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.90 | 22.88 % | |
R2 | 2.61 | 10.59 % | ||
R1 | 2.45 | 3.81 % | ||
Current price | 2.36 | |||
Support | S1 | 2.25 | -4.66% | |
S2 | 2.24 | -5.08% | ||
S3 | 2.15 | -8.90% |
FAQ
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