Chatham Rock Phosphate Limited Stock Forecast
On Friday, Chatham Rock Phosphate Limited stock price gained an impressive 5.26%
(Updated on May 17, 2024)
The Chatham Rock Phosphate Limited stock price gained 5.26% on the last trading day (Friday, 17th May 2024), rising from $0.152 to $0.160. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 3.90% from a day low at $0.154 to a day high of $0.160. The price has been going up and down for this period, and there has been a 1.91% gain for the last 2 weeks. Volume fell on the last day by -2 thousand shares and in total, 5 thousand shares were bought and sold for approximately $801.28 . 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 very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 21.41% during the next 3 months and, with a 90% probability hold a price between $0.160 and $0.220 at the end of this 3-month period.
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CRP.NZ Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, April 17, 2024, and so far it has fallen -5.88%. 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). 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. The Chatham Rock Phosphate 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 $0.152 and $0.148. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Chatham Rock Phosphate Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.150 and $0.146. 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, Chatham Rock Phosphate Limited finds support just below today's level at $0.150. If this is broken, then the next support from accumulated volume will be at $0.146 and $0.145.
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 $0.0060 between high and low, or 3.90%. For the last week the stock has had daily average volatility of 1.31%.
Our recommended stop-loss: $0.154 (-3.94%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 21 days ago.)
Trading Expectations (CRP.NZ) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Chatham Rock Phosphate Limited to open at $0.158, and during the day (based on 14 day Average True Range), to move between $0.157 and $0.163, which gives a possible trading interval of +/-$0.0034 (+/-2.10%) up or down from last closing price. If Chatham Rock Phosphate Limited takes out the full calculated possible swing range there will be an estimated 4.20% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.161 (0.63%) than the support at $0.150 (6.25%), 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 Chatham Rock Phosphate 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 Chatham Rock Phosphate Limited stock to perform well in the short-term.
Current score: 2.503 Buy Candidate Unchanged
Predicted Opening Price for Chatham Rock Phosphate Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.158 ( 1.25%) | $0.160 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CRP.NZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.164 | 2.50 % | |
| R2 | 0.162 | 1.07 % | ||
| R1 | 0.160 | 0.182 % | ||
| Current price: | 0.160 | |||
| Support | S1 | 0.156 | -2.68 % | |
| S2 | 0.154 | -3.57 % | ||
| S3 | 0.152 | -5.00 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.170 | 6.25 % | |
| R2 | 0.162 | 1.25 % | ||
| R1 | 0.161 | 0.625 % | ||
| Current price | 0.160 | |||
| Support | S1 | 0.150 | -6.25% | |
| S2 | 0.146 | -8.75% | ||
| S3 | 0.145 | -9.38% |
FAQ
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