Adriatic Metals PLC Stock Forecast
Stronger technical forecast for Adriatic Metals PLC stock price after Friday trading.
(Updated on Jun 14, 2024)
The Adriatic Metals PLC stock price fell by -0.380% on the last day (Friday, 14th Jun 2024) from $2.63 to $2.62. During the last trading day the stock fluctuated 1.15% from a day low at $2.60 to a day high of $2.63. The price has fallen in 6 of the last 10 days and is down by -8.07% for this period. Volume has increased on the last day by 9 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 9 thousand shares were bought and sold for approximately $24.87 thousand.
The stock lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $2.61 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 8.58% during the next 3 months and, with a 90% probability hold a price between $2.83 and $3.74 at the end of this 3-month period.
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ADMLF Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, June 05, 2024, and so far it has risen 1.55%. 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 Adriatic Metals 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 $2.64 and $2.91. 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). Adriatic Metals PLC gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Adriatic Metals PLC stock
Adriatic Metals PLC finds support from accumulated volume at $2.59 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 $0.0300 between high and low, or 1.15%. For the last week, the stock has had daily average volatility of 0.460%.
Adriatic Metals PLC is oversold on RSI14 (22). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: $2.48 (-5.47%) (This stock has high daily movements and this gives high risk. Low RSI14 is 22 which reduces the risk some. There is a buy signal from a pivot bottom found 17 days ago.)
Trading Expectations (ADMLF) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect Adriatic Metals PLC to open at $2.62, and during the day (based on 14 day Average True Range), to move between $2.52 and $2.72, which gives a possible trading interval of +/-$0.104 (+/-3.96%) up or down from last closing price. If Adriatic Metals PLC takes out the full calculated possible swing range there will be an estimated 7.93% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.59 (1.15%) than the resistance at $2.66 (1.53%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Adriatic Metals PLC stock A Buy?
Adriatic Metals PLC holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Adriatic Metals PLC of Monday, June 17, 2024
Fair opening price June 17, 2024 | Current price |
---|---|
$2.62 ( 0.127%) | $2.62 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ADMLF
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 2.65 | 1.02% |
R2 | 2.64 | 0.580% |
R1 | 2.63 | 0.310% |
Price | 2.62 | |
S1 | 2.61 | -0.565% |
S2 | 2.60 | -0.83% |
S3 | 2.59 | -1.27% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 2.80 | 6.87% |
R2 | 2.79 | 6.49% |
R1 | 2.66 | 1.53% |
Price | 2.62 | |
S1 | 2.59 | -1.15% |
S2 | 2.58 | -1.53% |
S3 | 2.38 | -9.16% |
FAQ
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