Cartier Iron Corporation Stock Forecast
Cartier Iron Corporation stock upgraded to Buy Candidate.
(Updated on May 10, 2024)
The Cartier Iron Corporation stock price gained 1.41% on the last trading day (Friday, 10th May 2024), rising from $0.355 to $0.360. During the last trading day the stock fluctuated 5.56% from a day low at $0.360 to a day high of $0.380. The price has been going up and down for this period, and there has been a 0% change for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 23 thousand more shares were traded than the day before. In total, 32 thousand shares were bought and sold for approximately $11.34 thousand.
The stock lies in the lower part of a very 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 $0.333 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 33.01% during the next 3 months and, with a 90% probability hold a price between $0.443 and $0.639 at the end of this 3-month period.
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CFE.CN Signals & Forecast
The Cartier Iron Corporation 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 $0.366. On a fall, the stock will find some support from the long-term average at approximately $0.343. 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. Cartier Iron Corporation has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. 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, March 05, 2024, and so far it has fallen -7.69%. 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).
Support, Risk & Stop-loss for Cartier Iron Corporation stock
Cartier Iron Corporation finds support from accumulated volume at $0.350 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 $0.0200 between high and low, or 5.56%. For the last week, the stock has had daily average volatility of 3.06%.
Our recommended stop-loss: $0.339 (-5.94%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 47 days ago.)
Trading Expectations (CFE.CN) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Cartier Iron Corporation to open at $0.367, and during the day (based on 14 day Average True Range), to move between $0.344 and $0.376, which gives a possible trading interval of +/-$0.0155 (+/-4.32%) up or down from last closing price. If Cartier Iron Corporation takes out the full calculated possible swing range there will be an estimated 8.64% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.370 (2.78%) than the support at $0.350 (2.78%), 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 Cartier Iron Corporation 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 Cartier Iron Corporation stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.471 Buy Candidate Upgraded
Predicted Opening Price for Cartier Iron Corporation of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| $0.367 ( 1.85%) | $0.360 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CFE.CN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.387 | 7.41 % | |
| R2 | 0.379 | 5.29 % | ||
| R1 | 0.374 | 3.97 % | ||
| Current price: | 0.360 | |||
| Support | S1 | 0.359 | -0.270 % | |
| S2 | 0.354 | -1.58 % | ||
| S3 | 0.347 | -3.70 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.380 | 5.56 % | |
| R2 | 0.375 | 4.17 % | ||
| R1 | 0.370 | 2.78 % | ||
| Current price | 0.360 | |||
| Support | S1 | 0.350 | -2.78% | |
| S2 | 0.340 | -5.56% | ||
| S3 | 0.315 | -12.50% |
FAQ
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