Kesselrun Resources Ltd. Stock Forecast
A very red day for Kesselrun Resources Ltd. stock price after a -7.14% fall in the Friday trading session
(Updated on Jun 14, 2024)
The Kesselrun Resources Ltd. stock price fell by -7.14% on the last day (Friday, 14th Jun 2024) from $0.0700 to $0.0650. During the last trading day the stock fluctuated 8.33% from a day low at $0.0600 to a day high of $0.0650. The price has fallen in 4 of the last 10 days and is down by -7.14% 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 -8 thousand shares and in total, 31 thousand shares were bought and sold for approximately $1.98 thousand.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.0603 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 54.55% during the next 3 months and, with a 90% probability hold a price between $0.0932 and $0.155 at the end of this 3-month period.
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KES.V Signals & Forecast
There are few to no technical positive signals at the moment. The Kesselrun Resources Ltd. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $0.0657 and $0.0653. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 21, 2024, and so far it has fallen -27.78%. 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. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Kesselrun Resources Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0600 and $0.0550. 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, Kesselrun Resources Ltd. finds support just below today's level at $0.0600. If this is broken, then the next support from accumulated volume will be at $0.0550 and $0.0500.
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 $0.0050 between high and low, or 8.33%. For the last week the stock has had daily average volatility of 5.00%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (KES.V) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect Kesselrun Resources Ltd. to open at $0.0633, and during the day (based on 14 day Average True Range), to move between $0.0586 and $0.0714, which gives a possible trading interval of +/-$0.0064 (+/-9.78%) up or down from last closing price. If Kesselrun Resources Ltd. takes out the full calculated possible swing range there will be an estimated 19.56% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0700 (7.69%) than the support at $0.0600 (7.69%), 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 Kesselrun Resources Ltd. stock A Buy?
The Kesselrun Resources Ltd. stock holds several negative signals and despite the positive trend, we believe Kesselrun Resources Ltd. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.559 Sell Candidate Downgraded
Predicted Opening Price for Kesselrun Resources Ltd. of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| $0.0633 ( 2.56%) | $0.0650 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KES.V
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0683 | 5.13% |
| R2 | 0.0664 | 2.19% |
| R1 | 0.0652 | 0.374% |
| Price | 0.0650 | |
| S1 | 0.0614 | -5.50% |
| S2 | 0.0602 | -7.32% |
| S3 | 0.0583 | -10.26% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0800 | 23.08% |
| R2 | 0.0750 | 15.38% |
| R1 | 0.0700 | 7.69% |
| Price | 0.0650 | |
| S1 | 0.0600 | -7.69% |
| S2 | 0.0550 | -15.38% |
| S3 | 0.0500 | -23.08% |
FAQ
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