Ceres Global Ag Corp. Stock Forecast
Weaker technical forecast for Ceres Global Ag Corp. as stock downgraded to Hold/Accumulate.
(Updated on May 17, 2024)
The Ceres Global Ag Corp. stock price gained 0.613% on the last trading day (Friday, 17th May 2024), rising from $3.26 to $3.28. During the last trading day the stock fluctuated 0.306% from a day low at $3.27 to a day high of $3.28. The price has been going up and down for this period, and there has been a -0.61% 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, 500 more shares were traded than the day before. In total, 500 shares were bought and sold for approximately $1.64 thousand.
The stock lies in the middle of a 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 24.52% during the next 3 months and, with a 90% probability hold a price between $3.55 and $4.24 at the end of this 3-month period.
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CRP.TO Signals & Forecast
The Ceres Global Ag Corp. 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 $3.26 and $3.00. A breakdown below any of these levels will issue sell signals. Ceres Global Ag Corp. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. 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 Friday, May 03, 2024, and so far it has fallen -0.606%. 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 Ceres Global Ag Corp. stock
On the downside, the stock finds support just below today's level from accumulated volume at $3.05 and $2.91. 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, Ceres Global Ag Corp. finds support just below today's level at $3.05. If this is broken, then the next support from accumulated volume will be at $2.91 and $2.64.
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 $0.0100 between high and low, or 0.306%. For the last week, the stock has had daily average volatility of 0.368%.
Our recommended stop-loss: $3.16 (-3.64%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 10 days ago.)
Trading Expectations (CRP.TO) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Ceres Global Ag Corp. to open at $3.28, and during the day (based on 14 day Average True Range), to move between $3.23 and $3.33, which gives a possible trading interval of +/-$0.0491 (+/-1.50%) up or down from last closing price. If Ceres Global Ag Corp. takes out the full calculated possible swing range there will be an estimated 2.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3.29 (0.30%) than the support at $3.05 (7.01%), 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 Ceres Global Ag Corp. stock A Buy?
Ceres Global Ag Corp. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Ceres Global Ag Corp. of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| $3.28 ( 0.102%) | $3.28 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CRP.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.29 | 0.203 % | |
| R2 | 3.28 | 0.0868 % | ||
| R1 | 3.28 | 0.0148 % | ||
| Current price: | 3.28 | |||
| Support | S1 | 3.27 | -0.218 % | |
| S2 | 3.27 | -0.290 % | ||
| S3 | 3.27 | -0.407 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 3.30 | 0.610 % | ||
| R1 | 3.29 | 0.305 % | ||
| Current price | 3.28 | |||
| Support | S1 | 3.05 | -7.01% | |
| S2 | 2.91 | -11.28% | ||
| S3 | 2.64 | -19.51% |
FAQ
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