Cohiba Minerals Limited Stock Forecast
Cohiba Minerals Limited stock upgraded from Hold/Accumulate to Buy Candidate after Wednesday trading session.
(Updated on May 08, 2024)
No changes to the price of Cohiba Minerals Limited stock on the last trading day (Wednesday, 8th May 2024). During the last trading day the stock fluctuated 0% from a day low at $0.0040 to a day high of $0.0040. The price has been going up and down for this period, and there has been a 33.33% gain for the last 2 weeks.
The stock lies in the upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $0.0040 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 26.88% during the next 3 months and, with a 90% probability hold a price between $0.0029 and $0.0051 at the end of this 3-month period.
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CHK.AX Signals & Forecast
The Cohiba Minerals Limited 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 $0.0034 and $0.0031. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Tuesday, May 07, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Cohiba Minerals Limited stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 6.67%.
Our recommended stop-loss: $0.0039 (-3.66%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (CHK.AX) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Cohiba Minerals Limited to open at $0.0040, and during the day (based on 14 day Average True Range), to move between $0.0037 and $0.0043, which gives a possible trading interval of +/-$0.0003 (+/-7.59%) up or down from last closing price. If Cohiba Minerals Limited takes out the full calculated possible swing range there will be an estimated 15.18% move between the lowest and the highest trading price during the day.
Is Cohiba Minerals Limited 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 Cohiba Minerals Limited 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: 1.058 Buy Candidate Upgraded
Predicted Opening Price for Cohiba Minerals Limited of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| $0.0040 ( 0%) | $0.0040 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CHK.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0040 | . | |
| R2 | 0.0040 | . | ||
| R1 | 0.0040 | . | ||
| Current price: | 0.0040 | |||
| Support | S1 | 0.0040 | . | |
| S2 | 0.0040 | . | ||
| S3 | 0.0040 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 0.0040 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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