Caledonia Mining Corp Forecast and Stock Analysis
Technical CMCL stock analysis for February 21, 2019.
|Shorts||0.39% ( 2019-01-31 )|
Caledonia Mining Corp gained 0.72% in the last trading day, rising from $5.53 to $5.57 The price has fallen in 5 of the last 10 days and is down by -1.42% for this period. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 19 876 more shares were traded than the day before. In total, 41 784 shares bought and sold for approximately $232 737.00.
Close price at the end of the last trading day (Thursday, 21st Feb 2019) of the CMCL stock was $5.57. This is 0.72% more than the trading day before Wednesday, 20th Feb 2019.
During day the stock fluctuated 2.36% from a day low at $5.52 to a day high of $5.65.
30 day high of the CMCL stock price was $6.22 and low was $5.39.
90 day high was $6.37 and low was $5.01.
52 week high for the Caledonia Mining Corp - $9.94 and low - $5.01.
Given the current horizontal trend you can expect Caledonia Mining Corp with 90% probability to be traded between $5.15 and $6.39 at the end of this period with 90% probability. 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 roof. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
A buy signal was issued from a pivot bottom point on Friday February 15, 2019, which indicates further gains until a new top pivot has been found. Caledonia Mining Corp has rising 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. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. Caledonia Mining Corp holds a buysignal from the short-term moving average; at the same time, however, a sales signal from the long-term average. Since the longterm average is above the short-term average there is a general sales signal in the stock. On further gains, the stock will meet resistance from the long-term moving average at $5.83. On a fall, the stock will find some support from the short-term average at $5.52. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sales signal and strengthen the general signal.
Relative Strength Index (RSI)
The stock currently holds a RSI14 at 27 and is oversold on RSI14. The stock being oversold is no guarantee for instant reaction up as some stocks may be oversold for a long time. It is important to review the previous RSI-history to get an indication of the RSI-sensitiveness.
Support & Resistance
Caledonia Mining Corp finds support from accumulated volume at $5.55.
This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.13 between high and low, or 2.36%. For the last week, the stock has had a daily average volatility of 2.20%.
Caledonia Mining Corp is oversold on RSI14 (27). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stoploss: $5.23 (-6.13%) (This stock has medium daily movements and this gives medium risk. Low RSI14 is 27 which reduces the risk some. There is a buy signal from pivot bottom found 3 days ago.)
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Caledonia Mining Corp holds several positive signals, but we still don't find these to be enough for a buy-recommendation. At the current level we recommend to hold or accumulate in this position whilst awaiting for further development. We have upgraded our recommendation for this stock since last evaluation from a Sell Candidate to a Hold/Accumulate.