Caledonia Mining Corp Stock Forecast
Caledonia Mining Corp stock upgraded to Hold/Accumulate.
(Updated on Apr 25, 2024)
The Caledonia Mining Corp stock price gained 1.00% on the last trading day (Thursday, 25th Apr 2024), rising from $10.03 to $10.13. During the last trading day the stock fluctuated 3.21% from a day low at $9.97 to a day high of $10.29. The price has fallen in 6 of the last 10 days and is down by -8.57% for this period. Volume fell on the last day by -51 thousand shares and in total, 39 thousand shares were bought and sold for approximately $399.60 thousand. 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 lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 2.27% during the next 3 months and, with a 90% probability hold a price between $9.98 and $11.74 at the end of this 3-month period.
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CMCL Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 1.81%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Caledonia Mining Corp stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $10.18 and $10.68. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Caledonia Mining Corp stock
Caledonia Mining Corp finds support from accumulated volume at $10.03 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.320 between high and low, or 3.21%. For the last week the stock has had daily average volatility of 5.44%.
Our recommended stop-loss: $9.60 (-5.22%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (CMCL) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Caledonia Mining Corp to open at $10.13, and during the day (based on 14 day Average True Range), to move between $9.61 and $10.65, which gives a possible trading interval of +/-$0.517 (+/-5.10%) up or down from last closing price. If Caledonia Mining Corp takes out the full calculated possible swing range there will be an estimated 10.20% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $10.19 (0.59%) than the support at $10.03 (0.99%), 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 Caledonia Mining Corp stock A Buy?
Caledonia Mining Corp holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.679 Hold/Accumulate Upgraded
Predicted Opening Price for Caledonia Mining Corp of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $10.13 ( 0%) | $10.13 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CMCL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.45 | 3.16 % | |
| R2 | 10.33 | 1.95 % | ||
| R1 | 10.25 | 1.21 % | ||
| Current price: | 10.13 | |||
| Support | S1 | 10.01 | -1.21 % | |
| S2 | 9.93 | -1.95 % | ||
| S3 | 9.81 | -3.16 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.36 | 12.14 % | |
| R2 | 10.62 | 4.84 % | ||
| R1 | 10.19 | 0.592 % | ||
| Current price | 10.13 | |||
| Support | S1 | 10.03 | -0.99% | |
| S2 | 9.95 | -1.78% | ||
| S3 | 9.74 | -3.85% |
CMCL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 28, 2024 | Apr 11, 2024 | Apr 26, 2024 | $0.140 | 1.38% |
| 2 | Jan 02, 2024 | Jan 11, 2024 | Jan 26, 2024 | $0.140 | 1.25% |
| 3 | Oct 02, 2023 | Oct 12, 2023 | Oct 27, 2023 | $0.140 | 1.22% |
| 4 | Jul 03, 2023 | Jul 13, 2023 | Jul 28, 2023 | $0.140 | 1.18% |
| 5 | Apr 03, 2023 | Apr 13, 2023 | Apr 28, 2023 | $0.140 | 0.98% |
FAQ
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