Coro Energy Plc Forecast and Stock Analysis
Technical CORO.L stock analysis for Wednesday June 19, 2019.
Coro Energy Plc fell by -1.16% in the last day ( Wednesday, 19th Jun 2019 ) from £2.15 to £2.13 During day the stock fluctuated 1.18% from a day low at £2.13 to a day high of £2.15. The price has fallen in 4 of the last 10 days , but is still up by 6.25% over the past 2 weeks. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -556 969 shares and in total 645 650 shares bought and sold for approximately £1.37 million.
- 30 day high of the CORO.L stock price was £2.28 and low was £1.95.
- 90 day high was £2.85 and low was £1.83.
- 52 week high for the Coro Energy Plc - £4.35 and low - £0.02.
Given the current horizontal trend you can expect Coro Energy Plc with 90% probability to be traded between £1.88 and £2.85 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.
Coro Energy Plc holds sales signals from both short- and long-term moving averages. In addition, there is a general sales 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 £2.13 and £2.15. A break-up above any of these levels will issue buy signals. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Friday June 14, 2019, which indicates further gains until a new top pivot has been found.
Relative Strength Index (RSI)
RSI14 is 52 and the stock is currently not being overbought or oversold
Support & Resistance
Coro Energy Plc finds support from accumulated volume at £2.10.
This stock may move much during a day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved £0.02 between high and low, or 1.18%. For the last week the stock has had a daily average volatility of 1.40%.
Our recommended stoploss: £1.99 (-6.50%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from pivot bottom found 3 days ago.)
1.40 %Average volatility
Very Low Low Medium High Very High
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, for the wholesome period, we think that today's level holds a possible buying-opportunity and that the price will be higher during or at the end of this 3-month period.
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