Almaden Minerals Ltd. Stock Forecast
Almaden Minerals Ltd. stock price ended at $0.160 on Friday, after losing 0%.
(Updated on May 31, 2024)
No changes to the price of Almaden Minerals Ltd. stock on the last trading day (Friday, 31st May 2024). During the last trading day the stock fluctuated 6.67% from a day low at $0.150 to a day high of $0.160. The price has been going up and down for this period, and there has been a -5.88% loss for the last 2 weeks.
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 -9.26% during the next 3 months and, with a 90% probability hold a price between $0.129 and $0.175 at the end of this 3-month period.
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AMM.TO Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 29, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Almaden Minerals Ltd. 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 $0.167 and $0.169. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
A buy signal from a double bottom formation was found on Tuesday, April 23, 2024 and based on theory for this formation the price should go up by 0% to $0.160 within 12 trading days since signal was issued (Monday, June 03, 2024).
Support, Risk & Stop-loss for Almaden Minerals Ltd. stock
Almaden Minerals Ltd. finds support from accumulated volume at $0.155 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0100 between high and low, or 6.67%. For the last week the stock has had daily average volatility of 4.46%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AMM.TO) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Almaden Minerals Ltd. to open at $0.157, and during the day (based on 14 day Average True Range), to move between $0.155 and $0.165, which gives a possible trading interval of +/-$0.0054 (+/-3.39%) up or down from last closing price. If Almaden Minerals Ltd. takes out the full calculated possible swing range there will be an estimated 6.78% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.155 (3.13%) than the resistance at $0.170 (6.25%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Almaden Minerals Ltd. stock A Buy?
Almaden Minerals Ltd. 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: -2.427 Sell Candidate Unchanged
Predicted Opening Price for Almaden Minerals Ltd. of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| $0.157 ( 2.08%) | $0.160 |
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 | 0.167 | 4.17 % | |
| R2 | 0.163 | 1.78 % | ||
| R1 | 0.160 | 0.304 % | ||
| Current price: | 0.160 | |||
| Support | S1 | 0.153 | -4.47 % | |
| S2 | 0.150 | -5.95 % | ||
| S3 | 0.147 | -8.33 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.190 | 18.75 % | |
| R2 | 0.180 | 12.50 % | ||
| R1 | 0.170 | 6.25 % | ||
| Current price | 0.160 | |||
| Support | S1 | 0.155 | -3.13% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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