Afritin Mining Limited Stock Forecast
Afritin Mining Limited stock price ended at £5.44 on Friday, after gaining 4.21%.
(Updated on Apr 19, 2024)
The Afritin Mining Limited stock price gained 4.21% on the last trading day (Friday, 19th Apr 2024), rising from £5.22 to £5.44. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 8.59% from a day low at £5.10 to a day high of £5.54. The price has risen in 7 of the last 10 days and is up by 23.64% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 6 million more shares were traded than the day before. In total, 15 million shares were bought and sold for approximately £81.11 million.
The stock has broken the 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 £5.30, a level that may pose a second chance to hit a runner. According to fan-theory £6.25 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
ATM.L Signals & Forecast
Mostly positive signals in the chart today. The Afritin Mining Limited 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 £5.07 and £4.63. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, March 28, 2024, and so far it has risen 29.52%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Afritin Mining Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at £4.70 and £4.40. 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, Afritin Mining Limited finds support just below today's level at £4.70. If this is broken, then the next support from accumulated volume will be at £4.40 and £4.35.
This stock may move much during the 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 £0.438 between high and low, or 8.59%. For the last week, the stock has had daily average volatility of 7.69%.
The Afritin Mining Limited stock is extremely overbought on RSI14 (82). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: £5.26 (-3.36%) (This stock has high daily movements and this gives high risk. The RSI14 is 82 and this increases the risk substantially. There is a buy signal from a pivot bottom found 14 days ago.)
Trading Expectations (ATM.L) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Afritin Mining Limited to open at £5.36, and during the day (based on 14 day Average True Range), to move between £5.10 and £5.78, which gives a possible trading interval of +/-£0.339 (+/-6.24%) up or down from last closing price. If Afritin Mining Limited takes out the full calculated possible swing range there will be an estimated 12.48% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ £4.70, some £0.740 (13.60%) from the current price of £5.44, our system finds the risk reward attractive.
Is Afritin Mining Limited stock A Buy?
Afritin Mining Limited holds several positive signals and has broken the strong rising trend up. As the stock is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 6.438 Strong Buy Candidate Unchanged
Predicted Opening Price for Afritin Mining Limited of Monday, April 22, 2024
Fair opening price April 22, 2024 | Current price |
---|---|
£5.36 ( 1.48%) | £5.44 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ATM.L
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 5.80 | 6.57 % | |
R2 | 5.63 | 3.49 % | ||
R1 | 5.53 | 1.59 % | ||
Current price: | 5.44 | |||
Support | S1 | 5.19 | -4.56 % | |
S2 | 5.09 | -6.46 % | ||
S3 | 4.92 | -9.53 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 5.44 | |||
Support | S1 | 4.70 | -13.60% | |
S2 | 4.40 | -19.12% | ||
S3 | 4.35 | -20.04% |
FAQ
Click here for our free guide on how to buy Afritin Mining Limited Stock.