Capital Drilling Ltd. Stock Forecast
Capital Drilling Ltd. stock upgraded to Strong Buy Candidate.
(Updated on Apr 23, 2024)
The Capital Drilling Ltd. stock price gained 1.99% on the last trading day (Tuesday, 23rd Apr 2024), rising from £95.60 to £97.50. During the last trading day the stock fluctuated 4.27% from a day low at £94.77 to a day high of £98.82. The price has risen in 7 of the last 10 days and is up by 5.98% over the past 2 weeks. Volume fell on the last day by -7 thousand shares and in total, 98 thousand shares were bought and sold for approximately £9.54 million. 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 has broken the strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at £96.16, a level that may pose a second chance to hit a runner. According to fan-theory £102.86 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
CAPD.L Signals & Forecast
Mostly positive signals in the chart today. The Capital Drilling Ltd. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at £94.70 and £91.35. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 27, 2024, and so far it has risen 10.80%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Capital Drilling Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at £88.00 and £86.00. 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, Capital Drilling Ltd. finds support just below today's level at £88.00. If this is broken, then the next support from accumulated volume will be at £86.00 and £85.00.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved £4.05 (4.27%) between high and low. For the last week, the stock has had daily average volatility of 3.52%.
Our recommended stop-loss: £93.14 (-4.47%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 17 days ago.)
Trading Expectations (CAPD.L) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Capital Drilling Ltd. to open at £97.03, and during the day (based on 14 day Average True Range), to move between £94.35 and £100.65, which gives a possible trading interval of +/-£3.15 (+/-3.23%) up or down from last closing price. If Capital Drilling Ltd. takes out the full calculated possible swing range there will be an estimated 6.46% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ £88.00, some £9.50 (9.74%) from the current price of £97.50, our system finds the risk reward attractive.
Is Capital Drilling Ltd. stock A Buy?
Capital Drilling Ltd. holds several positive signals and has broken the strong rising trend up. As the stock is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.469 Strong Buy Candidate Upgraded
Predicted Opening Price for Capital Drilling Ltd. of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| £97.03 ( 0.481%) | £97.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CAPD.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 101.08 | 3.67 % | |
| R2 | 99.53 | 2.08 % | ||
| R1 | 98.58 | 1.10 % | ||
| Current price: | 97.50 | |||
| Support | S1 | 95.49 | -2.07 % | |
| S2 | 94.53 | -3.05 % | ||
| S3 | 92.99 | -4.63 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 97.50 | |||
| Support | S1 | 88.00 | -9.74% | |
| S2 | 86.00 | -11.79% | ||
| S3 | 85.00 | -12.82% |
CAPD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 18, 2024 | Apr 18, 2024 | May 15, 2024 | £2.04 | 2.09% |
| 2 | Apr 13, 2023 | Apr 13, 2023 | Apr 13, 2023 | £2.60 | 2.68% |
| 3 | Aug 18, 2022 | Sep 01, 2022 | Oct 03, 2022 | £1.30 | 1.53% |
| 4 | Mar 10, 2022 | Apr 07, 2022 | May 10, 2022 | £2.40 | 2.60% |
| 5 | Mar 10, 2022 | Apr 06, 2022 | May 10, 2022 | £2.40 | 2.60% |
FAQ
Click here for our free guide on how to buy Capital Drilling Ltd. Stock.
