CFN Enterprises Inc. Stock Forecast
Green day on Friday for CFN Enterprises Inc.
(Updated on May 17, 2024)
The CFN Enterprises Inc. stock price gained 1.20% on the last trading day (Friday, 17th May 2024), rising from $0.83 to $0.84. During the last trading day the stock fluctuated 8.83% from a day low at $0.781 to a day high of $0.85. The price has risen in 6 of the last 10 days and is up by 109.98% over the past 2 weeks. Volume fell on the last day by -4 thousand shares and in total, 3 thousand shares were bought and sold for approximately $2.88 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 has broken the very wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $0.618, a level that may pose a second chance to hit a runner.
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CNFN Signals & Forecast
The CFN Enterprises Inc. 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 $0.701 and $0.431. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 03, 2024, and so far it has risen 571.92%. 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. 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 CFN Enterprises Inc. stock
CFN Enterprises Inc. finds support from accumulated volume at $0.83 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.0690 between high and low, or 8.83%. For the last week the stock has had daily average volatility of 29.63%.
Our recommended stop-loss: $0.81 (-3.04%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 32 days ago.)
Trading Expectations (CNFN) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect CFN Enterprises Inc. to open at $0.82, and during the day (based on 14 day Average True Range), to move between $0.749 and $0.93, which gives a possible trading interval of +/-$0.0907 (+/-10.80%) up or down from last closing price. If CFN Enterprises Inc. takes out the full calculated possible swing range there will be an estimated 21.60% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $0.83, some $0.0100 (1.19%) from the current price of $0.84, our system finds the risk reward attractive.
Is CFN Enterprises Inc. stock A Buy?
Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for CFN Enterprises Inc. stock to perform well in the short-term period.
Current score: 7.119 Strong Buy Candidate Unchanged
Predicted Opening Price for CFN Enterprises Inc. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.82 ( 1.94%) | $0.84 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CNFN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.89 | 6.27 % | |
| R2 | 0.87 | 3.13 % | ||
| R1 | 0.85 | 1.19 % | ||
| Current price: | 0.84 | |||
| Support | S1 | 0.797 | -5.08 % | |
| S2 | 0.781 | -7.02 % | ||
| S3 | 0.755 | -10.15 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 0.84 | |||
| Support | S1 | 0.83 | -1.19% | |
| S2 | 0.750 | -10.70% | ||
| S3 | 0 | . |
FAQ
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