Cadence Minerals Plc Stock Forecast
Cadence Minerals Plc stock price ended at £3.70 on Thursday, after gaining 4.23%.
(Updated on Apr 18, 2024)
The Cadence Minerals Plc stock price gained 4.23% on the last trading day (Thursday, 18th Apr 2024), rising from £3.55 to £3.70. During the last trading day the stock fluctuated 6.99% from a day low at £3.55 to a day high of £3.80. The price has been going up and down for this period, and there has been a -29.52% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 808 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately £6.03 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -21.23% during the next 3 months and, with a 90% probability hold a price between £2.41 and £4.25 at the end of this 3-month period.
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KDNC.L Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 08, 2024, and so far it has risen 13.85%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Cadence Minerals Plc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at £4.61. On a fall, the stock will find some support from the short-term average at £3.57. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Cadence Minerals Plc stock
Cadence Minerals Plc finds support from accumulated volume at £3.67 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved £0.248 between high and low, or 6.99%. For the last week, the stock has had daily average volatility of 5.17%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (KDNC.L) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Cadence Minerals Plc to open at £3.68, and during the day (based on 14 day Average True Range), to move between £3.19 and £4.21, which gives a possible trading interval of +/-£0.510 (+/-13.77%) up or down from last closing price. If Cadence Minerals Plc takes out the full calculated possible swing range there will be an estimated 27.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £3.67 (0.81%) than the resistance at £4.43 (19.59%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Cadence Minerals Plc stock A Buy?
Cadence Minerals Plc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.402 Sell Candidate Unchanged
Predicted Opening Price for Cadence Minerals Plc of Friday, April 19, 2024
Fair opening price April 19, 2024 | Current price |
---|---|
£3.68 ( 0.468%) | £3.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KDNC.L
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 3.93 | 6.23 % | |
R2 | 3.84 | 3.67 % | ||
R1 | 3.78 | 2.09 % | ||
Current price: | 3.70 | |||
Support | S1 | 3.59 | -3.03 % | |
S2 | 3.53 | -4.61 % | ||
S3 | 3.43 | -7.17 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 4.51 | 21.89 % | |
R2 | 4.50 | 21.62 % | ||
R1 | 4.43 | 19.59 % | ||
Current price | 3.70 | |||
Support | S1 | 3.67 | -0.81% | |
S2 | 3.55 | -4.05% | ||
S3 | 3.25 | -12.16% |
FAQ
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