Canadian General Investments Ltd Stock Forecast
Red day on Wednesday for Canadian General Investments Ltd stock after losing 0%
(Updated on Sep 02, 2020)
No changes to the price of Canadian General Investments Ltd stock on the last trading day (Wednesday, 2nd Sep 2020). During the last trading day the stock fluctuated 0.304% from a day low at £16.44 to a day high of £16.49. The price has risen in 5 of the last 10 days and is up by 37.34% over the past 2 weeks.
The stock is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Canadian General Investments Ltd stock with a 90% probability to be traded between £15.63 and £15.93 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners. 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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CGI.L Signals & Forecast
The Canadian General Investments 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 £14.96 and £12.46. 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). Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". 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 Tuesday, November 30, -1. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Canadian General Investments Ltd stock
Canadian General Investments Ltd finds support from accumulated volume at £15.90 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved £0.0500 between high and low, or 0.304%. For the last week the stock has had daily average volatility of 2.32%.
Our recommended stop-loss: £0.80 (-5.00%) (Unable to calculate.)
Trading Expectations (CGI.L) For The Upcoming Trading Day Of Thursday 3rd
Since the stock is closer to the support from accumulated volume at £15.90 (0.62%) than the resistance at £16.25 (1.56%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Canadian General Investments Ltd stock A Buy?
Canadian General Investments Ltd 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 Canadian General Investments Ltd of Thursday, September 3, 2020
| Fair opening price September 3, 2020 | Current price |
|---|---|
| £16.31 ( 1.94%) | £16.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CGI.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.36 | 2.25 % | |
| R2 | 16.34 | 2.13 % | ||
| R1 | 16.33 | 2.06 % | ||
| Current price: | 16.00 | |||
| Support | S1 | 16.29 | 1.82 % | |
| S2 | 16.28 | 1.74 % | ||
| S3 | 16.26 | 1.63 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 16.25 | 1.56 % | ||
| Current price | 16.00 | |||
| Support | S1 | 15.90 | -0.625% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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