Cadence Minerals Plc Stock Forecast
Red day on Friday for Cadence Minerals Plc stock after losing 4.59%
(Updated on Apr 19, 2024)
The Cadence Minerals Plc stock price fell by -4.59% on the last day (Friday, 19th Apr 2024) from £3.70 to £3.53. During the last trading day the stock fluctuated 7.65% from a day low at £3.53 to a day high of £3.80. The price has been going up and down for this period, and there has been a -3.81% loss for the last 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 -1 million shares and in total, 137 thousand shares were bought and sold for approximately £484.87 thousand.
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 -22.06% during the next 3 months and, with a 90% probability hold a price between £2.36 and £4.18 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 8.62%. Further rise is indicated until a new top pivot has been found. 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 sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at £3.59 and £4.57. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Cadence Minerals Plc stock
Cadence Minerals Plc finds support from accumulated volume at £3.50 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 periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved £0.270 between high and low, or 7.65%. For the last week the stock has had daily average volatility of 5.61%.
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 Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Cadence Minerals Plc to open at £3.62, and during the day (based on 14 day Average True Range), to move between £3.04 and £4.02, which gives a possible trading interval of +/-£0.493 (+/-13.96%) up or down from last closing price. If Cadence Minerals Plc takes out the full calculated possible swing range there will be an estimated 27.91% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £3.55 (0.57%) than the support at £3.50 (0.85%), 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 Cadence Minerals Plc stock A Buy?
Cadence Minerals Plc holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -4.657 Sell Candidate Unchanged
Predicted Opening Price for Cadence Minerals Plc of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| £3.62 ( 2.55%) | £3.53 |
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 | 3.89 | 10.20 % | |
| R2 | 3.79 | 7.28 % | ||
| R1 | 3.72 | 5.47 % | ||
| Current price: | 3.53 | |||
| Support | S1 | 3.52 | -0.372 % | |
| S2 | 3.45 | -2.18 % | ||
| S3 | 3.35 | -5.10 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.70 | 4.82 % | |
| R2 | 3.67 | 3.97 % | ||
| R1 | 3.55 | 0.567 % | ||
| Current price | 3.53 | |||
| Support | S1 | 3.50 | -0.85% | |
| S2 | 3.40 | -3.68% | ||
| S3 | 3.25 | -7.93% |
FAQ
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