Adventus Mining Corporation Stock Forecast
On Friday, Adventus Mining Corporation stock price gained an impressive 6.55%
(Updated on May 17, 2024)
The Adventus Mining Corporation stock price gained 6.55% on the last trading day (Friday, 17th May 2024), rising from $0.353 to $0.377. During the last trading day the stock fluctuated 6.70% from a day low at $0.360 to a day high of $0.384. The price has risen in 7 of the last 10 days and is up by 19.71% 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, 204 thousand more shares were traded than the day before. In total, 235 thousand shares were bought and sold for approximately $88.35 thousand.
The stock lies in the upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $0.385 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 110.74% during the next 3 months and, with a 90% probability hold a price between $0.702 and $0.81 at the end of this 3-month period.
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ADVZF Signals & Forecast
The Adventus Mining Corporation 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 $0.353 and $0.311. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, March 22, 2024, and so far it has risen 83.05%. 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). Adventus Mining Corporation has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Adventus Mining Corporation stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.321 and $0.309. 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, Adventus Mining Corporation finds support just below today's level at $0.321. If this is broken, then the next support from accumulated volume will be at $0.309 and $0.293.
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 $0.0241 between high and low, or 6.70%. For the last week, the stock has had daily average volatility of 4.81%.
Our recommended stop-loss: $0.363 (-3.56%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 39 days ago.)
Trading Expectations (ADVZF) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Adventus Mining Corporation to open at $0.373, and during the day (based on 14 day Average True Range), to move between $0.358 and $0.395, which gives a possible trading interval of +/-$0.0181 (+/-4.81%) up or down from last closing price. If Adventus Mining Corporation takes out the full calculated possible swing range there will be an estimated 9.62% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $0.321, some $0.0554 (14.71%) from the current price of $0.377, our system finds the risk reward attractive.
Earnings coming up
Adventus Mining Corporation will release earnings BMO on Friday, May 24, 2024. We will update the financials statements for Adventus Mining Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 1.26% in the first trading day after earnings release.
Is Adventus Mining Corporation stock A Buy?
Adventus Mining Corporation holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
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 Adventus Mining Corporation of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.373 ( 0.81%) | $0.377 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ADVZF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.398 | 5.60 % | |
| R2 | 0.388 | 3.15 % | ||
| R1 | 0.383 | 1.64 % | ||
| Current price: | 0.377 | |||
| Support | S1 | 0.364 | -3.25 % | |
| S2 | 0.359 | -4.76 % | ||
| S3 | 0.349 | -7.21 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 0.377 | |||
| Support | S1 | 0.321 | -14.71% | |
| S2 | 0.309 | -18.06% | ||
| S3 | 0.293 | -22.31% |
FAQ
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