CANADIAN ENERGY Stock Forecast
Evaluation of CANADIAN ENERGY stock downgraded after the last trading session.
(Updated on May 03, 2024)
The CANADIAN ENERGY stock price fell by -2.17% on the last day (Friday, 3rd May 2024) from $4.23 to $4.14. During the last trading day the stock fluctuated 0.315% from a day low at $4.13 to a day high of $4.14. The price has fallen in 6 of the last 10 days but is still up by 2.55% 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 -53 thousand shares and in total, 1 thousand shares were bought and sold for approximately $4.58 thousand.
The stock lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 46.18% during the next 3 months and, with a 90% probability hold a price between $5.82 and $6.23 at the end of this 3-month period.
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CESDF Signals & Forecast
The CANADIAN ENERGY 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 $4.14 and $3.88. 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 Thursday, May 02, 2024, and so far it has fallen -2.17%. 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 CANADIAN ENERGY stock
CANADIAN ENERGY finds support from accumulated volume at $3.97 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 $0.0130 between high and low, or 0.315%. For the last week the stock has had daily average volatility of 1.74%.
Our recommended stop-loss: $3.94 (-4.85%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (CESDF) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect CANADIAN ENERGY to open at $4.13, and during the day (based on 14 day Average True Range), to move between $4.04 and $4.24, which gives a possible trading interval of +/-$0.0982 (+/-2.37%) up or down from last closing price. If CANADIAN ENERGY takes out the full calculated possible swing range there will be an estimated 4.74% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $4.14 (0.12%) than the support at $3.97 (4.06%), 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 CANADIAN ENERGY stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for CANADIAN ENERGY stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 2.775 Buy Candidate Downgraded
Predicted Opening Price for CANADIAN ENERGY of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $4.13 ( 0.105%) | $4.14 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CESDF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.15 | 0.209 % | |
| R2 | 4.14 | 0.0894 % | ||
| R1 | 4.14 | 0.0153 % | ||
| Current price: | 4.14 | |||
| Support | S1 | 4.13 | -0.225 % | |
| S2 | 4.13 | -0.299 % | ||
| S3 | 4.12 | -0.419 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.23 | 2.22 % | |
| R2 | 4.15 | 0.290 % | ||
| R1 | 4.14 | 0.123 % | ||
| Current price | 4.14 | |||
| Support | S1 | 3.97 | -4.06% | |
| S2 | 3.85 | -6.96% | ||
| S3 | 3.52 | -14.93% |
CESDF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 27, 2024 | Mar 27, 2024 | Apr 15, 2024 | $0 | 0% |
| 2 | Dec 28, 2023 | Dec 28, 2023 | Jan 15, 2024 | $0 | 0% |
| 3 | Jun 21, 2023 | Jun 29, 2023 | Jul 14, 2023 | $0.0190 | 0.93% |
| 4 | Mar 22, 2023 | Mar 30, 2023 | Apr 14, 2023 | $0.0150 | 0.728% |
| 5 | Dec 20, 2022 | Dec 29, 2022 | Jan 13, 2023 | $0.0150 | 0.735% |
FAQ
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