Kairos Minerals Limited Stock Forecast
Volatile ride for Kairos Minerals Limited stock price on Wednesday moving between $0.0110 and $0.0130
(Updated on May 15, 2024)
The Kairos Minerals Limited stock price gained 8.33% on the last trading day (Wednesday, 15th May 2024), rising from $0.0120 to $0.0130. During the last trading day the stock fluctuated 18.18% from a day low at $0.0110 to a day high of $0.0130. The price has risen in 5 of the last 10 days and is up by 18.18% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 5 million shares were bought and sold for approximately $63.22 thousand.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $0.0132 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -10.42% during the next 3 months and, with a 90% probability hold a price between $0.0095 and $0.0119 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.
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KAI.AX Signals & Forecast
The Kairos Minerals Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.0120 and $0.0122. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Kairos Minerals Limited 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 Monday, May 13, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found.
A sell signal from a double top formation was found on Tuesday, April 02, 2024 and based on theory for this formation the price should fall by -4.62% to $0.0124 within 5 trading days since signal was issued (Thursday, May 16, 2024).
Support, Risk & Stop-loss for Kairos Minerals Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0120 and $0.0110. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $0.0110 may give a huge drop in the stock price.
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 $0.0020 between high and low, or 18.18%. For the last week, the stock has had daily average volatility of 8.94%.
Our recommended stop-loss: $0.0125 (-3.90%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (KAI.AX) For The Upcoming Trading Day Of Thursday 16th
For the upcoming trading day on Thursday, 16th we expect Kairos Minerals Limited to open at $0.0123, and during the day (based on 14 day Average True Range), to move between $0.0119 and $0.0141, which gives a possible trading interval of +/-$0.0011 (+/-8.13%) up or down from last closing price. If Kairos Minerals Limited takes out the full calculated possible swing range there will be an estimated 16.25% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0120 (7.69%) than the resistance at $0.0140 (7.69%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Kairos Minerals Limited stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.170 Buy Candidate Upgraded
Predicted Opening Price for Kairos Minerals Limited of Thursday, May 16, 2024
| Fair opening price May 16, 2024 | Current price |
|---|---|
| $0.0123 ( 5.13%) | $0.0130 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KAI.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0143 | 10.26 % | |
| R2 | 0.0136 | 4.38 % | ||
| R1 | 0.0131 | 0.749 % | ||
| Current price: | 0.0130 | |||
| Support | S1 | 0.0116 | -11.01 % | |
| S2 | 0.0111 | -14.64 % | ||
| S3 | 0.0103 | -20.51 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0.0140 | 7.69 % | ||
| Current price | 0.0130 | |||
| Support | S1 | 0.0120 | -7.69% | |
| S2 | 0.0110 | -15.38% | ||
| S3 | 0 | . |
FAQ
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