Almaden Minerals Ltd. Stock Forecast
On Friday, Almaden Minerals Ltd. stock price gained an impressive 5.88%
(Updated on May 17, 2024)
The Almaden Minerals Ltd. stock price gained 5.88% on the last trading day (Friday, 17th May 2024), rising from $0.170 to $0.180. During the last trading day the stock fluctuated 5.88% from a day low at $0.170 to a day high of $0.180. The price has been going up and down for this period, and there has been a 5.88% 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, 35 thousand more shares were traded than the day before. In total, 35 thousand shares were bought and sold for approximately $6.30 thousand.
The stock lies in the middle of a very 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 -9.24% during the next 3 months and, with a 90% probability hold a price between $0.132 and $0.177 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
AMM.TO Signals & Forecast
The Almaden Minerals 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 $0.171 and $0.173. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 05, 2024, and so far it has risen 16.13%. 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). Almaden Minerals 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. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Almaden Minerals Ltd. stock
Almaden Minerals Ltd. finds support from accumulated volume at $0.175 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.0100 (5.88%) between high and low. For the last week, the stock has had daily average volatility of 1.18%.
Our recommended stop-loss: $0.173 (-4.00%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 30 days ago.)
Trading Expectations (AMM.TO) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Almaden Minerals Ltd. to open at $0.177, and during the day (based on 14 day Average True Range), to move between $0.177 and $0.183, which gives a possible trading interval of +/-$0.0033 (+/-1.82%) up or down from last closing price. If Almaden Minerals Ltd. takes out the full calculated possible swing range there will be an estimated 3.63% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.185 (2.78%) than the support at $0.175 (2.78%), 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 Almaden Minerals Ltd. stock A Buy?
Almaden Minerals 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. 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 Almaden Minerals Ltd. of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| $0.177 ( 1.85%) | $0.180 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AMM.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.187 | 3.70 % | |
| R2 | 0.183 | 1.58 % | ||
| R1 | 0.180 | 0.270 % | ||
| Current price: | 0.180 | |||
| Support | S1 | 0.173 | -3.97 % | |
| S2 | 0.170 | -5.29 % | ||
| S3 | 0.167 | -7.41 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.200 | 11.11 % | |
| R2 | 0.190 | 5.56 % | ||
| R1 | 0.185 | 2.78 % | ||
| Current price | 0.180 | |||
| Support | S1 | 0.175 | -2.78% | |
| S2 | 0.170 | -5.56% | ||
| S3 | 0.155 | -13.89% |
FAQ
Click here for our free guide on how to buy Almaden Minerals Ltd. Stock.
