Kavango Resources Plc Stock Forecast
High volatility in Kavango Resources Plc stock price on Monday which ended trading at £1.15
(Updated on Apr 22, 2024)
The Kavango Resources Plc stock price gained 9.48% on the last trading day (Monday, 22nd Apr 2024), rising from £1.05 to £1.15. During the last trading day the stock fluctuated 14.93% from a day low at £1.04 to a day high of £1.20. The price has risen in 5 of the last 10 days and is up by 28.15% over the past 2 weeks. Volume fell on the last day by -723 thousand shares and in total, 715 thousand shares were bought and sold for approximately £821.38 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 has broken the very wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at £1.09, a level that may pose a second chance to hit a runner. According to fan-theory £1.32 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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KAV.L Signals & Forecast
The Kavango Resources Plc 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 £1.06 and £0.86. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, February 26, 2024, and so far it has risen 88.13%. Further rise is indicated until a new top pivot has been found. 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. 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 Kavango Resources Plc stock
Kavango Resources Plc finds support from accumulated volume at £1.10 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved £0.156 between high and low, or 14.93%. For the last week the stock has had daily average volatility of 12.04%.
Our recommended stop-loss: £1.11 (-3.16%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 38 days ago.)
Trading Expectations (KAV.L) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Kavango Resources Plc to open at £1.13, and during the day (based on 14 day Average True Range), to move between £1.04 and £1.26, which gives a possible trading interval of +/-£0.106 (+/-9.21%) up or down from last closing price. If Kavango Resources Plc takes out the full calculated possible swing range there will be an estimated 18.43% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ £1.10, some £0.0495 (4.31%) from the current price of £1.15, our system finds the risk reward attractive.
Is Kavango Resources Plc stock A Buy?
Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Kavango Resources Plc stock to perform well in the short-term period.
Current score: 4.219 Buy Candidate Unchanged
Predicted Opening Price for Kavango Resources Plc of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| £1.13 ( 1.59%) | £1.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KAV.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.29 | 11.97 % | |
| R2 | 1.23 | 6.79 % | ||
| R1 | 1.19 | 3.59 % | ||
| Current price: | 1.15 | |||
| Support | S1 | 1.07 | -6.77 % | |
| S2 | 1.03 | -9.97 % | ||
| S3 | 0.98 | -15.15 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 1.15 | |||
| Support | S1 | 1.10 | -4.31% | |
| S2 | 1.03 | -10.83% | ||
| S3 | 0.93 | -19.53% |
FAQ
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