Almaden Minerals Ltd Stock Forecast
High volatility in Almaden Minerals Ltd stock price on Friday which ended trading at £2.50
(Updated on Apr 26, 2024)
The Almaden Minerals Ltd stock price gained 3.09% on the last trading day (Friday, 26th Apr 2024), rising from £2.43 to £2.50. During the last trading day the stock fluctuated 16.44% from a day low at £2.21 to a day high of £2.58. The price has fallen in 5 of the last 10 days and is down by -12.28% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 8 million shares were bought and sold for approximately £20.12 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 58.11% during the next 3 months and, with a 90% probability hold a price between £3.72 and £4.82 at the end of this 3-month period.
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AAU.L Signals & Forecast
The Almaden Minerals Ltd stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately £2.75. On a fall, the stock will find some support from the long-term average at approximately £2.40. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. 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 Friday, April 19, 2024, and so far it has fallen -15.54%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Almaden Minerals Ltd stock
Almaden Minerals Ltd finds support from accumulated volume at £2.43 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 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 £0.364 between high and low, or 16.44%. For the last week, the stock has had daily average volatility of 12.68%.
Our recommended stop-loss: £2.35 (-5.94%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (AAU.L) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Almaden Minerals Ltd to open at £2.43, and during the day (based on 14 day Average True Range), to move between £2.26 and £2.74, which gives a possible trading interval of +/-£0.236 (+/-9.46%) up or down from last closing price. If Almaden Minerals Ltd takes out the full calculated possible swing range there will be an estimated 18.92% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £2.43 (3.00%) than the resistance at £2.85 (14.00%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Almaden Minerals Ltd 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 Almaden Minerals Ltd stock to perform well in the short-term.
Current score: 2.371 Buy Candidate Unchanged
Predicted Opening Price for Almaden Minerals Ltd of Monday, April 29, 2024
Fair opening price April 29, 2024 | Current price |
---|---|
£2.43 ( 2.77%) | £2.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AAU.L
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.79 | 11.79 % | |
R2 | 2.66 | 6.22 % | ||
R1 | 2.57 | 2.79 % | ||
Current price: | 2.50 | |||
Support | S1 | 2.29 | -8.34 % | |
S2 | 2.21 | -11.77 % | ||
S3 | 2.07 | -17.33 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.95 | 18.00 % | |
R2 | 2.88 | 15.00 % | ||
R1 | 2.85 | 14.00 % | ||
Current price | 2.50 | |||
Support | S1 | 2.43 | -3.00% | |
S2 | 2.40 | -4.00% | ||
S3 | 2.25 | -10.00% |
AAU Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Aug 18, 2022 | Aug 18, 2022 | Aug 18, 2022 | £0.175 | 5.56% |
2 | Feb 18, 2022 | Mar 03, 2022 | Mar 25, 2022 | £0.175 | 4.43% |
3 | Aug 18, 2021 | Aug 26, 2021 | Sep 26, 2021 | £0.350 | 7.63% |
FAQ
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