Cadence Minerals Plc Forecast and Stock Analysis
Technical KDNC.L stock analysis for March 22, 2019.
Cadence Minerals Plc fell by -42.11% in the last day from £0.38 to £0.22 The price has been going up and down for this period, and there has been a 109.52% gain for the last 2 weeks. Volume has increased in the last day by 32.59 million shares, but on falling prices. This may be an early warning and the risk will be increased slightly for the next couple of days. In total, 617.73 million shares bought and sold for approximately £135.90 million.
Close price at the end of the last trading day (Friday, 22nd Mar 2019) of the KDNC.L stock was £0.22. This is 42.11% less than the trading day before Thursday, 21st Mar 2019.
During day the stock fluctuated 130.95% from a day low at £0.21 to a day high of £0.49.
30 day high of the KDNC.L stock price was £0.49 and low was £0.09.
90 day high was £0.49 and low was £0.09.
52 week high for the Cadence Minerals Plc - £9.11 and low - £0.09.
Given the current horizontal trend you can expect Cadence Minerals Plc with 90% probability to be traded between £0.10 and £0.39 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.
Cadence Minerals Plc holds buy signals from both short- and long-term moving averages. In addition, 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 £0.17 and £0.12. A break down below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Thursday March 21, 2019, which indicates further falls until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Relative Strength Index (RSI)
RSI14 is 63 and the stock is currently not being overbought or oversold
Support & Resistance
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.
This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved £0.28 between high and low, or 130.95%. For the last week, the stock has had a daily average volatility of 80.57%.
Our recommended stoploss: £0.21 (-4.74%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from pivot top found 1 days ago.)
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Evaluation: Buy Candidate
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for this stock to perform well in the short-term period. We have upgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Buy Candidate.