Caerus Mineral Resources Plc Stock Forecast
Volatile ride for Caerus Mineral Resources Plc stock price on Friday moving between £1.40 and £1.60
(Updated on Jun 28, 2024)
The Caerus Mineral Resources Plc stock price gained 14.50% on the last trading day (Friday, 28th Jun 2024), rising from £1.31 to £1.50. During the last trading day the stock fluctuated 14.29% from a day low at £1.40 to a day high of £1.60. The price has fallen in 5 of the last 10 days but is still up by 13.64% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately £2.01 million.
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 £1.56 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 21.57% during the next 3 months and, with a 90% probability hold a price between £1.37 and £1.90 at the end of this 3-month period.
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CMRS.L Signals & Forecast
The Caerus Mineral Resources Plc 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 £1.29 and £1.23. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 21, 2024, and so far it has risen 36.36%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Caerus Mineral Resources Plc stock
On the downside, the stock finds support just below today's level from accumulated volume at £1.27 and £1.15. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Caerus Mineral Resources Plc finds support just below today's level at £1.27. If this is broken, then the next support from accumulated volume will be at £1.15 and £1.13.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved £0.200 between high and low, or 14.29%. For the last week, the stock has had daily average volatility of 13.78%.
Our recommended stop-loss: £1.44 (-3.92%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (CMRS.L) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Caerus Mineral Resources Plc to open at £1.50, and during the day (based on 14 day Average True Range), to move between £1.36 and £1.64, which gives a possible trading interval of +/-£0.143 (+/-9.53%) up or down from last closing price. If Caerus Mineral Resources Plc takes out the full calculated possible swing range there will be an estimated 19.06% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ £1.27, some £0.230 (15.33%) from the current price of £1.50, our system finds the risk reward attractive.
Is Caerus Mineral Resources Plc stock A Buy?
Caerus Mineral Resources Plc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, 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: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Caerus Mineral Resources Plc of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| £1.50 ( 0%) | £1.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CMRS.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.70 | 13.33% |
| R2 | 1.62 | 8.24% |
| R1 | 1.58 | 5.09% |
| Price | 1.50 | |
| S1 | 1.42 | -5.09% |
| S2 | 1.38 | -8.24% |
| S3 | 1.30 | -13.33% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 1.50 | |
| S1 | 1.27 | -15.33% |
| S2 | 1.15 | -23.33% |
| S3 | 1.13 | -24.67% |
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