Cantex Mine Development Corp. Stock Forecast
Red day on Thursday for Cantex Mine Development Corp. stock after losing 0%
(Updated on Jun 20, 2024)
No changes to the price of Cantex Mine Development Corp. stock on the last trading day (Thursday, 20th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at $0.105 to a day high of $0.105. The price has been going up and down for this period, and there has been a 4.9% gain for the last 2 weeks.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -26.12% during the next 3 months and, with a 90% probability hold a price between $0.0583 and $0.0869 at the end of this 3-month period. 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
CTXDF Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Cantex Mine Development Corp. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $0.115. On a fall, the stock will find some support from the short-term average at $0.103. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
A sell signal from a double top formation was found on Monday, May 13, 2024 with a target of $0.123. Despite whether the objective of the signal formation has been reached the stock may continue to fall.
Support, Risk & Stop-loss for Cantex Mine Development Corp. stock
Cantex Mine Development Corp. finds support from accumulated volume at $0.101 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0%
Our recommended stop-loss: $0.0987 (-6.00%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (CTXDF) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Cantex Mine Development Corp. to open at $0.105, and during the day (based on 14 day Average True Range), to move between $0.101 and $0.109, which gives a possible trading interval of +/-$0.0041 (+/-3.90%) up or down from last closing price. If Cantex Mine Development Corp. takes out the full calculated possible swing range there will be an estimated 7.80% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.101 (4.10%) than the resistance at $0.125 (18.67%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Cantex Mine Development Corp. stock A Buy?
Cantex Mine Development 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.
Current score: 0.000 Hold/Accumulate Unchanged
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 Cantex Mine Development Corp. of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| $0.105 ( 0%) | $0.105 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CTXDF
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.105 | - |
| R2 | 0.105 | - |
| R1 | 0.105 | - |
| Price | 0.105 | |
| S1 | 0.105 | - |
| S2 | 0.105 | - |
| S3 | 0.105 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.130 | 23.43% |
| R2 | 0.128 | 21.90% |
| R1 | 0.125 | 18.67% |
| Price | 0.105 | |
| S1 | 0.101 | -4.10% |
| S2 | 0.0942 | -10.29% |
| S3 | 0.0915 | -12.90% |
FAQ
Click here for our free guide on how to buy Cantex Mine Development Corp. Stock.
