Kavango Resources Plc Stock Forecast
Red day on Thursday for Kavango Resources Plc
(Updated on Apr 25, 2024)
The Kavango Resources Plc stock price fell by -3.43% on the last day (Thursday, 25th Apr 2024) from £1.23 to £1.18. During the last trading day the stock fluctuated 9.48% from a day low at £1.15 to a day high of £1.26. The price has risen in 5 of the last 10 days and is up by 24.53% over the past 2 weeks. 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 -2 million shares and in total, 1 million shares were bought and sold for approximately £1.39 million.
The stock lies in the middle of a very wide and strong 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 66.16% during the next 3 months and, with a 90% probability hold a price between £1.56 and £2.10 at the end of this 3-month period.
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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 £1.14 and £0.91. 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 Tuesday, April 23, 2024, and so far it has fallen -5.36%. 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.
Support, Risk & Stop-loss for Kavango Resources Plc stock
On the downside, the stock finds support just below today's level from accumulated volume at £1.10 and £1.03. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Kavango Resources Plc finds support just below today's level at £1.10. If this is broken, then the next support from accumulated volume will be at £1.03 and £0.93.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved £0.109 between high and low, or 9.48%. For the last week the stock has had daily average volatility of 13.44%.
Our recommended stop-loss: £1.12 (-5.53%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (KAV.L) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Kavango Resources Plc to open at £1.20, and during the day (based on 14 day Average True Range), to move between £1.06 and £1.30, which gives a possible trading interval of +/-£0.120 (+/-10.13%) up or down from last closing price. If Kavango Resources Plc takes out the full calculated possible swing range there will be an estimated 20.25% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £1.23 (3.55%) than the support at £1.10 (7.02%), 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 Kavango Resources Plc stock A Buy?
Several short-term signals, along with a general good trend, are positive and 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.
Current score: 1.379 Buy Candidate Unchanged
Predicted Opening Price for Kavango Resources Plc of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| £1.20 ( 1.21%) | £1.18 |
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 | 1.31 | 10.43 % | |
| R2 | 1.26 | 6.91 % | ||
| R1 | 1.24 | 4.73 % | ||
| Current price: | 1.18 | |||
| Support | S1 | 1.16 | -2.31 % | |
| S2 | 1.13 | -4.48 % | ||
| S3 | 1.09 | -8.00 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 1.25 | 5.66 % | ||
| R1 | 1.23 | 3.55 % | ||
| Current price | 1.18 | |||
| Support | S1 | 1.10 | -7.02% | |
| S2 | 1.03 | -13.36% | ||
| S3 | 0.93 | -21.81% |
FAQ
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