Adriatic Metals PLC Stock Forecast
Adriatic Metals PLC stock upgraded to Strong Buy Candidate.
(Updated on May 20, 2024)
The Adriatic Metals PLC stock price gained 3.94% on the last trading day (Monday, 20th May 2024), rising from $4.57 to $4.75. During the last trading day the stock fluctuated 3.19% from a day low at $4.70 to a day high of $4.85. The price has risen in 6 of the last 10 days and is up by 5.56% 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, 164 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $5.27 million.
The stock lies in the middle of a 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 46.23% during the next 3 months and, with a 90% probability hold a price between $6.75 and $7.36 at the end of this 3-month period.
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ADT.AX Signals & Forecast
The Adriatic Metals PLC 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 $4.61 and $4.36. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 24, 2024, and so far it has risen 13.10%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Adriatic Metals PLC stock
Adriatic Metals PLC finds support from accumulated volume at $4.57 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.150 between high and low, or 3.19%. For the last week, the stock has had daily average volatility of 2.55%.
Our recommended stop-loss: $4.49 (-5.54%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 19 days ago.)
Trading Expectations (ADT.AX) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Adriatic Metals PLC to open at $4.77, and during the day (based on 14 day Average True Range), to move between $4.57 and $4.93, which gives a possible trading interval of +/-$0.180 (+/-3.79%) up or down from last closing price. If Adriatic Metals PLC takes out the full calculated possible swing range there will be an estimated 7.58% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $4.57, some $0.180 (3.79%) from the current price of $4.75, our system finds the risk reward attractive.
Is Adriatic Metals PLC stock A Buy?
Adriatic Metals PLC holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 7.249 Strong Buy Candidate Upgraded
Predicted Opening Price for Adriatic Metals PLC of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| $4.77 ( 0.351%) | $4.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ADT.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.92 | 3.51 % | |
| R2 | 4.86 | 2.30 % | ||
| R1 | 4.82 | 1.56 % | ||
| Current price: | 4.75 | |||
| Support | S1 | 4.71 | -0.86 % | |
| S2 | 4.67 | -1.60 % | ||
| S3 | 4.62 | -2.81 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 4.75 | |||
| Support | S1 | 4.57 | -3.79% | |
| S2 | 4.56 | -4.00% | ||
| S3 | 4.20 | -11.58% |
FAQ
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