Complete Production Services, Inc Stock Forecast
Big movements in Complete Production Services, Inc stock price on Wednesday moving 26.67% between high and low
(Updated on May 01, 2024)
The Complete Production Services, Inc stock price gained 6.79% on the last trading day (Wednesday, 1st May 2024), rising from £0.0810 to £0.0865. During the last trading day the stock fluctuated 26.67% from a day low at £0.0750 to a day high of £0.0950. The price has been going up and down for this period, and there has been a -13.5% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 436 million more shares were traded than the day before. In total, 540 million shares were bought and sold for approximately £46.71 million.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is -£0.0262, a level that may pose a second chance to hit a runner. According to fan-theory £0.303 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt. Due to the high volatility and the trend direction we are not able to give forecast range for this stock. 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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CPX.L Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. The Complete Production Services, Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at £0.0896 and £0.121. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, March 18, 2024, and so far it has fallen -69.11%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Complete Production Services, Inc stock
Complete Production Services, Inc finds support from accumulated volume at £0.0850 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 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 £0.0200 between high and low, or 26.67%. For the last week, the stock has had daily average volatility of 14.40%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CPX.L) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Complete Production Services, Inc to open at £0.0855, and during the day (based on 14 day Average True Range), to move between £0.0665 and £0.106, which gives a possible trading interval of +/-£0.0200 (+/-23.08%) up or down from last closing price. If Complete Production Services, Inc takes out the full calculated possible swing range there will be an estimated 46.17% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £0.0850 (1.73%) than the resistance at £0.0925 (6.94%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Complete Production Services, Inc stock A Buy?
Complete Production Services, Inc holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.500 Strong Sell Candidate Downgraded
Predicted Opening Price for Complete Production Services, Inc of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| £0.0855 ( 1.16%) | £0.0865 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CPX.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.106 | 21.97 % | |
| R2 | 0.0979 | 13.13 % | ||
| R1 | 0.0931 | 7.68 % | ||
| Current price: | 0.0865 | |||
| Support | S1 | 0.0779 | -9.99 % | |
| S2 | 0.0731 | -15.45 % | ||
| S3 | 0.0655 | -24.28 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.103 | 18.50 % | |
| R2 | 0.100 | 15.61 % | ||
| R1 | 0.0925 | 6.94 % | ||
| Current price | 0.0865 | |||
| Support | S1 | 0.0850 | -1.73% | |
| S2 | 0.0825 | -4.62% | ||
| S3 | 0.0800 | -7.51% |
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