Catena Media plc Stock Forecast
Catena Media plc stock upgraded to Buy Candidate.
(Updated on Apr 17, 2024)
The Catena Media plc stock price gained 0.102% on the last trading day (Wednesday, 17th Apr 2024), rising from kr9.79 to kr9.80. During the last trading day the stock fluctuated 3.89% from a day low at kr9.78 to a day high of kr10.16. The price has fallen in 6 of the last 10 days and is down by -13.43% for this period. Volume fell on the last day by -79 thousand shares and in total, 58 thousand shares were bought and sold for approximately kr571.98 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 lies in the middle of a very wide and weak 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 8.58% during the next 3 months and, with a 90% probability hold a price between kr9.39 and kr12.65 at the end of this 3-month period.
CTM.ST Signals & Forecast
The Catena Media plc stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately kr10.24. On a fall, the stock will find some support from the long-term average at approximately kr9.71. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 0.102%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 also not.
Support, Risk & Stop-loss for Catena Media plc stock
On the downside, the stock finds support just below today's level from accumulated volume at kr9.21 and kr8.50. 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, Catena Media plc finds support just below today's level at kr9.21. If this is broken, then the next support from accumulated volume will be at kr8.50 and kr8.02.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved kr0.380 between high and low, or 3.89%. For the last week the stock has had daily average volatility of 4.67%.
Our recommended stop-loss: kr9.25 (-5.58%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (CTM.ST) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Catena Media plc to open at kr9.91, and during the day (based on 14 day Average True Range), to move between kr9.16 and kr10.44, which gives a possible trading interval of +/-kr0.639 (+/-6.52%) up or down from last closing price. If Catena Media plc takes out the full calculated possible swing range there will be an estimated 13.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr9.96 (1.58%) than the support at kr9.21 (6.07%), 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 Catena Media plc 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 Catena Media plc stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.692 Buy Candidate Upgraded
Predicted Opening Price for Catena Media plc of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| kr9.91 ( 1.16%) | kr9.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CTM.ST
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.29 | 5.03 % | |
| R2 | 10.15 | 3.55 % | ||
| R1 | 10.06 | 2.64 % | ||
| Current price: | 9.80 | |||
| Support | S1 | 9.77 | -0.325 % | |
| S2 | 9.68 | -1.24 % | ||
| S3 | 9.53 | -2.72 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.32 | 15.51 % | |
| R2 | 10.77 | 9.90 % | ||
| R1 | 9.96 | 1.58 % | ||
| Current price | 9.80 | |||
| Support | S1 | 9.21 | -6.07% | |
| S2 | 8.50 | -13.27% | ||
| S3 | 8.02 | -18.16% |
FAQ
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