Coro Energy Plc Stock Forecast
A very red day for Coro Energy Plc stock price after a -12.12% fall in the Tuesday trading session
(Updated on Sep 01, 2020)
The Coro Energy Plc stock price fell by -12.12% on the last day (Tuesday, 1st Sep 2020) from £0.0033 to £0.0029. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 0% from a day low at £0.0029 to a day high of £0.0029. The price has fallen in 4 of the last 10 days and is down by -23.68% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -479 thousand shares and in total, 162 thousand shares were bought and sold for approximately £470.08 .
Given the current short-term trend, the stock is expected to fall -16.00% during the next 3 months and, with a 90% probability hold a price between £0.0024 and £0.0026 at the end of this 3-month period. 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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CORO.L Signals & Forecast
There are mixed signals in the stock today. The Coro Energy Plc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at £0.0052 and £0.0050. A break-up above any of these levels will issue buy signals. 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. 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. The very low volume increases the risk and reduces the other technical signals issued. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Coro Energy Plc stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 0%
Coro Energy Plc is oversold on RSI14 (13). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: £0 (-5.00%) (Unable to calculate.)
Trading Expectations (CORO.L) For The Upcoming Trading Day Of Wednesday 2nd
With no support below and resistance from accumulated volume @ £0.0033, some £0.0004 (13.79%) from the current price of £0.0029, our system finds the risk reward not very attractive.
Is Coro Energy Plc stock A Buy?
Coro Energy Plc 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 Coro Energy Plc of Wednesday, September 2, 2020
| Fair opening price September 2, 2020 | Current price |
|---|---|
| £0.0029 ( 0%) | £0.0029 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CORO.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0029 | . | |
| R2 | 0.0029 | . | ||
| R1 | 0.0029 | . | ||
| Current price: | 0.0029 | |||
| Support | S1 | 0.0029 | . | |
| S2 | 0.0029 | . | ||
| S3 | 0.0029 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0036 | 24.14 % | |
| R2 | 0.0034 | 17.24 % | ||
| R1 | 0.0033 | 13.79 % | ||
| Current price | 0.0029 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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