Canacol Energy Ltd. Stock Forecast
Canacol Energy Ltd. stock price up 3.10% on Friday
(Updated on Jun 28, 2024)
The Canacol Energy Ltd. stock price gained 3.10% on the last trading day (Friday, 28th Jun 2024), rising from $4.20 to $4.33. During the last trading day the stock fluctuated 1.64% from a day low at $4.26 to a day high of $4.33. The price has been going up and down for this period, and there has been a 7.18% gain for the last 2 weeks. Volume fell on the last day by -116 thousand shares and in total, 7 thousand shares were bought and sold for approximately $28.38 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 middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -11.02% during the next 3 months and, with a 90% probability hold a price between $3.51 and $4.30 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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CNE.TO Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, June 19, 2024, and so far it has risen 7.98%. Further rise is indicated until a new top pivot has been found. 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. The Canacol Energy Ltd. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $4.48. On a fall, the stock will find some support from the short-term average at $4.26. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. 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 not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Canacol Energy Ltd. stock
Canacol Energy Ltd. finds support from accumulated volume at $4.32 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0700 between high and low, or 1.64%. For the last week the stock has had daily average volatility of 4.97%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CNE.TO) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Canacol Energy Ltd. to open at $4.31, and during the day (based on 14 day Average True Range), to move between $4.13 and $4.53, which gives a possible trading interval of +/-$0.200 (+/-4.61%) up or down from last closing price. If Canacol Energy Ltd. takes out the full calculated possible swing range there will be an estimated 9.23% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $4.32 (0.23%) than the resistance at $4.37 (0.92%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Canacol Energy Ltd. stock A Buy?
Canacol Energy Ltd. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.355 Sell Candidate Unchanged
Predicted Opening Price for Canacol Energy Ltd. of Tuesday, July 2, 2024
Fair opening price July 2, 2024 | Current price |
---|---|
$4.31 ( 0.539%) | $4.33 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CNE.TO
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 4.38 | 1.08% |
R2 | 4.35 | 0.460% |
R1 | 4.33 | 0.0787% |
Price | 4.33 | |
S1 | 4.28 | -1.16% |
S2 | 4.26 | -1.54% |
S3 | 4.24 | -2.16% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 4.71 | 8.78% |
R2 | 4.60 | 6.24% |
R1 | 4.37 | 0.92% |
Price | 4.33 | |
S1 | 4.32 | -0.231% |
S2 | 4.20 | -3.00% |
S3 | 4.16 | -3.93% |
CNE Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Dec 20, 2023 | Dec 28, 2023 | Jan 15, 2024 | $0.260 | 3.75% |
2 | Sep 14, 2023 | Sep 28, 2023 | Oct 16, 2023 | $0.260 | 2.51% |
3 | Jun 20, 2023 | Jun 29, 2023 | Jul 17, 2023 | $0.260 | 2.36% |
4 | Mar 16, 2023 | Mar 30, 2023 | Apr 17, 2023 | $0.260 | 2.40% |
5 | Dec 14, 2022 | Dec 28, 2022 | Jan 16, 2023 | $0.260 | 2.23% |
FAQ
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