Aurion Resources Ltd. Stock Forecast
Volatile ride for Aurion Resources Ltd. stock price on Friday moving between $0.411 and $0.505
(Updated on Jun 21, 2024)
The Aurion Resources Ltd. stock price gained 6.62% on the last trading day (Friday, 21st Jun 2024), rising from $0.470 to $0.501. During the last trading day the stock fluctuated 22.87% from a day low at $0.411 to a day high of $0.505. The price has been going up and down for this period, and there has been a 1.54% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 215 thousand more shares were traded than the day before. In total, 215 thousand shares were bought and sold for approximately $107.49 thousand.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -3.43% during the next 3 months and, with a 90% probability hold a price between $0.415 and $0.518 at the end of this 3-month period.
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AIRRF Signals & Forecast
The Aurion Resources Ltd. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.474 and $0.488. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, May 20, 2024, and so far it has risen 14.81%. 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). Aurion Resources Ltd. 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. Higher liquidity also reduces the general risk. The stock had a Golden Star Signal on Thursday, February 08, 2024 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Thursday, February 08, 2024 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Aurion Resources Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.476 and $0.446. 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, Aurion Resources Ltd. finds support just below today's level at $0.476. If this is broken, then the next support from accumulated volume will be at $0.446 and $0.436.
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 $0.0940 between high and low, or 22.87%. For the last week, the stock has had daily average volatility of 4.57%.
Our recommended stop-loss: $0.482 (-3.88%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 28 days ago.)
Trading Expectations (AIRRF) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Aurion Resources Ltd. to open at $0.472, and during the day (based on 14 day Average True Range), to move between $0.485 and $0.517, which gives a possible trading interval of +/-$0.0163 (+/-3.26%) up or down from last closing price. If Aurion Resources Ltd. takes out the full calculated possible swing range there will be an estimated 6.51% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.509 (1.62%) than the support at $0.476 (5.01%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Aurion Resources Ltd. stock A Buy?
Aurion Resources Ltd. 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.
Current score: 0.000 Hold/Accumulate Unchanged
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 Aurion Resources Ltd. of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $0.472 ( 5.73%) | $0.501 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AIRRF
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.566 | 13.02% |
| R2 | 0.530 | 5.86% |
| R1 | 0.508 | 1.43% |
| Price | 0.501 | |
| S1 | 0.436 | -12.90% |
| S2 | 0.414 | -17.33% |
| S3 | 0.378 | -24.49% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.520 | 3.77% |
| R2 | 0.518 | 3.27% |
| R1 | 0.509 | 1.62% |
| Price | 0.501 | |
| S1 | 0.476 | -5.01% |
| S2 | 0.446 | -10.93% |
| S3 | 0.436 | -12.90% |
FAQ
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