Cora Gold Ltd. Stock Forecast

Cora Gold Ltd. stock price down 0% on Tuesday
(Updated on Apr 23, 2024)

CORA.L Signals & Forecast

The Cora Gold 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 £2.28 and £2.00. 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). 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 Monday, April 22, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued. The stock had a Golden Star Signal on Monday, February 26, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Cora Gold Ltd. stock

Cora Gold Ltd. finds support from accumulated volume at £2.20 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved £0 between high and low, or 0%. For the last week the stock has had daily average volatility of 8.49%

The Cora Gold Ltd. stock is extremely overbought on RSI14 (86). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

Our recommended stop-loss: £2.22 (-3.28%) (This stock has low daily movements and this gives low risk. The RSI14 is 86 and this increases the risk substantially. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (CORA.L) For The Upcoming Trading Day Of Wednesday 24th

For the upcoming trading day on Wednesday, 24th we expect Cora Gold Ltd. to open at £2.30, and during the day (based on 14 day Average True Range), to move between £2.15 and £2.45, which gives a possible trading interval of +/-£0.149 (+/-6.47%) up or down from last closing price. If Cora Gold Ltd. takes out the full calculated possible swing range there will be an estimated 12.95% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ £2.20, some £0.1000 (4.35%) from the current price of £2.30, our system finds the risk reward attractive.

Is Cora Gold Ltd. stock A Buy?

Cora Gold 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: -0.401 Hold/Accumulate Unchanged

Predicted Opening Price for Cora Gold Ltd. of Wednesday, April 24, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.