Catena Media plc Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Catena Media plc stock upgraded to Hold/Accumulate.
(Updated on Apr 30, 2024)
The Catena Media plc stock price fell by -1.03% on the last day (Tuesday, 30th Apr 2024) from kr8.77 to kr8.68. During the last trading day the stock fluctuated 5.36% from a day low at kr8.58 to a day high of kr9.04. The price has fallen in 6 of the last 10 days and is down by -11.34% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -156 thousand shares and in total, 105 thousand shares were bought and sold for approximately kr915.05 thousand.
The stock lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at kr8.65 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 6.95% during the next 3 months and, with a 90% probability hold a price between kr9.25 and kr12.56 at the end of this 3-month period.
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CTM.ST Signals & Forecast
There are few to no technical positive signals at the moment. The Catena Media plc 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 kr9.03 and kr9.68. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 04, 2024, and so far it has fallen -24.65%. 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 along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Catena Media plc stock
Catena Media plc finds support from accumulated volume at kr8.50 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 periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved kr0.460 between high and low, or 5.36%. For the last week the stock has had daily average volatility of 4.82%.
Catena Media plc is oversold on RSI14 (13). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: kr8.18 (-5.73%) (This stock has high daily movements and this gives high risk. Low RSI14 is 13 which reduces the risk some. There is a sell signal from a pivot top found 18 days ago.)
Trading Expectations (CTM.ST) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Catena Media plc to open at kr8.77, and during the day (based on 14 day Average True Range), to move between kr8.13 and kr9.23, which gives a possible trading interval of +/-kr0.552 (+/-6.36%) up or down from last closing price. If Catena Media plc takes out the full calculated possible swing range there will be an estimated 12.72% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at kr8.50 (2.07%) than the resistance at kr9.96 (14.69%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Catena Media plc will release earnings BMO on Tuesday, May 07, 2024. We will update the financials statements for Catena Media plc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 16.13% in the first trading day after earnings release.
Is Catena Media plc stock A Buy?
Catena Media plc holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.144 Hold/Accumulate Upgraded
Predicted Opening Price for Catena Media plc of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| kr8.77 ( 1.00%) | kr8.68 |
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 | 9.23 | 6.30 % | |
| R2 | 9.05 | 4.27 % | ||
| R1 | 8.94 | 3.02 % | ||
| Current price: | 8.68 | |||
| Support | S1 | 8.59 | -1.03 % | |
| S2 | 8.48 | -2.28 % | ||
| S3 | 8.31 | -4.30 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.77 | 24.08 % | |
| R2 | 10.58 | 21.89 % | ||
| R1 | 9.96 | 14.69 % | ||
| Current price | 8.68 | |||
| Support | S1 | 8.50 | -2.07% | |
| S2 | 8.14 | -6.22% | ||
| S3 | 8.02 | -7.60% |
FAQ
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