Alto Metals Limited Stock Forecast

Strong day for Alto Metals Limited stock price on Tuesday rising 6.67% to $0.0320
(Updated on Jun 25, 2024)

AME.AX Signals & Forecast

Alto Metals Limited 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Alto Metals Limited 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 $0.0320 and $0.0361. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 27, 2024, and so far it has fallen -21.95%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Alto Metals Limited stock

Alto Metals Limited finds support from accumulated volume at $0.0310 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 between high and low, or 0%. For the last week, the stock has had daily average volatility of 8.48%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (AME.AX) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect Alto Metals Limited to open at $0.0320, and during the day (based on 14 day Average True Range), to move between $0.0298 and $0.0342, which gives a possible trading interval of +/-$0.0022 (+/-6.77%) up or down from last closing price. If Alto Metals Limited takes out the full calculated possible swing range there will be an estimated 13.53% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0330 (3.13%) than the support at $0.0310 (3.13%), 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 Alto Metals Limited stock A Buy?

Alto Metals Limited holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

Current score: -2.363 Sell Candidate Unchanged

Predicted Opening Price for Alto Metals Limited of Wednesday, June 26, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.