Cooper Energy Limited Stock Forecast
Cooper Energy Limited stock price ended at $0.230 on Friday, after losing 0%.
(Updated on May 31, 2024)
No changes to the price of Cooper Energy Limited stock on the last trading day (Friday, 31st May 2024). During the last trading day the stock fluctuated 2.22% from a day low at $0.225 to a day high of $0.230. The price has been going up and down for this period, and there has been a 4.55% gain for the last 2 weeks.
The stock lies in the upper part of a 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 $0.237 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 25.89% during the next 3 months and, with a 90% probability hold a price between $0.247 and $0.298 at the end of this 3-month period.
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COE.AX Signals & Forecast
The Cooper Energy 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 $0.229 and $0.218. A breakdown below any of these levels will issue sell signals. The volume rose on the last day while price remained unchanged. This may be an early warning and the stock should be watched closely. 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 Wednesday, May 29, 2024, and so far it has fallen -2.13%. 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 Cooper Energy Limited stock
Cooper Energy Limited finds support from accumulated volume at $0.225 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 $0.0050 between high and low, or 2.22%. For the last week, the stock has had daily average volatility of 3.39%.
Our recommended stop-loss: $0.220 (-4.42%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 12 days ago.)
Trading Expectations (COE.AX) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Cooper Energy Limited to open at $0.228, and during the day (based on 14 day Average True Range), to move between $0.220 and $0.240, which gives a possible trading interval of +/-$0.0101 (+/-4.38%) up or down from last closing price. If Cooper Energy Limited takes out the full calculated possible swing range there will be an estimated 8.76% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.235 (2.17%) than the support at $0.225 (2.17%), 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 Cooper Energy 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 Cooper Energy Limited stock to perform well in the short-term.
Current score: 1.762 Buy Candidate Unchanged
Predicted Opening Price for Cooper Energy Limited of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| $0.228 ( 0.725%) | $0.230 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for COE.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.233 | 1.45 % | |
| R2 | 0.231 | 0.619 % | ||
| R1 | 0.230 | 0.106 % | ||
| Current price: | 0.230 | |||
| Support | S1 | 0.226 | -1.56 % | |
| S2 | 0.225 | -2.07 % | ||
| S3 | 0.223 | -2.90 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0.235 | 2.17 % | ||
| Current price | 0.230 | |||
| Support | S1 | 0.225 | -2.17% | |
| S2 | 0.220 | -4.35% | ||
| S3 | 0.215 | -6.52% |
FAQ
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