Cadiz Stock Forecast
Cadiz stock downgraded to Hold/Accumulate
(Updated on Jul 02, 2024)
The Cadiz stock price gained 0.327% on the last trading day (Tuesday, 2nd Jul 2024), rising from $3.06 to $3.07. During the last trading day the stock fluctuated 2.98% from a day low at $3.02 to a day high of $3.11. The price has risen in 5 of the last 10 days and is up by 0.99% over the past 2 weeks. Volume fell on the last day by -2 thousand shares and in total, 55 thousand shares were bought and sold for approximately $169.56 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 lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $3.03 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 40.28% during the next 3 months and, with a 90% probability hold a price between $4.25 and $5.03 at the end of this 3-month period.
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CDZI Signals & Forecast
The Cadiz stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $3.08. On a fall, the stock will find some support from the long-term average at approximately $3.03. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Tuesday, May 28, 2024, and so far it has fallen -3.76%. 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 also not.
Support, Risk & Stop-loss for Cadiz stock
Cadiz finds support from accumulated volume at $3.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved $0.0900 between high and low, or 2.98%. For the last week the stock has had daily average volatility of 3.01%.
Our recommended stop-loss: $2.89 (-5.72%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 53 days ago.)
Trading Expectations (CDZI) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Cadiz to open at $3.07, and during the day (based on 14 day Average True Range), to move between $2.95 and $3.19, which gives a possible trading interval of +/-$0.119 (+/-3.89%) up or down from last closing price. If Cadiz takes out the full calculated possible swing range there will be an estimated 7.78% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3.09 (0.65%) than the support at $3.00 (2.28%), 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 this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.527 Hold/Accumulate Downgraded
Predicted Opening Price for Cadiz of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $3.07 ( 0.109%) | $3.07 |
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 | |
|---|---|---|
| R3 | 3.16 | 2.82% |
| R2 | 3.12 | 1.70% |
| R1 | 3.10 | 1.01% |
| Price | 3.07 | |
| S1 | 3.03 | -1.23% |
| S2 | 3.01 | -1.92% |
| S3 | 2.98 | -3.04% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.11 | 1.30% |
| R2 | 3.10 | 0.98% |
| R1 | 3.09 | 0.651% |
| Price | 3.07 | |
| S1 | 3.00 | -2.28% |
| S2 | 2.80 | -8.79% |
| S3 | 2.51 | -18.24% |
FAQ
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