Ascot Resources Ltd. Stock Forecast
Evaluation of Ascot Resources Ltd. stock downgraded after the last trading session.
(Updated on Apr 22, 2024)
The Ascot Resources Ltd. stock price fell by -1.64% on the last day (Monday, 22nd Apr 2024) from $0.572 to $0.563. During the last trading day the stock fluctuated 4.31% from a day low at $0.561 to a day high of $0.586. The price has fallen in 6 of the last 10 days and is down by -4.66% for this period. Volume has increased on the last day by 184 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 354 thousand shares were bought and sold for approximately $199.35 thousand.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.551 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 51.17% during the next 3 months and, with a 90% probability hold a price between $0.83 and $1.01 at the end of this 3-month period.
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AOTVF Signals & Forecast
The Ascot Resources Ltd. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $0.580. On a fall, the stock will find some support from the long-term average at approximately $0.549. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -12.38%. 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). Ascot Resources Ltd. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The stock had a Golden Star Signal on Friday, February 23, 2024 in the short-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
The stock had a Golden Star Signal on Friday, February 23, 2024 in the short-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 Ascot Resources Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.525 and $0.499. 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, Ascot Resources Ltd. finds support just below today's level at $0.525. If this is broken, then the next support from accumulated volume will be at $0.499 and $0.487.
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 $0.0242 between high and low, or 4.31%. For the last week, the stock has had daily average volatility of 4.16%.
Our recommended stop-loss: $0.534 (-5.04%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 7 days ago.)
Trading Expectations (AOTVF) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Ascot Resources Ltd. to open at $0.570, and during the day (based on 14 day Average True Range), to move between $0.526 and $0.599, which gives a possible trading interval of +/-$0.0363 (+/-6.46%) up or down from last closing price. If Ascot Resources Ltd. takes out the full calculated possible swing range there will be an estimated 12.91% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.590 (4.89%) than the support at $0.525 (6.76%), 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 Ascot Resources Ltd. stock A Buy?
Ascot Resources Ltd. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: 0.861 Hold/Accumulate Downgraded
Predicted Opening Price for Ascot Resources Ltd. of Tuesday, April 23, 2024
Fair opening price April 23, 2024 | Current price |
---|---|
$0.570 ( 1.30%) | $0.563 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AOTVF
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.594 | 5.61 % | |
R2 | 0.585 | 3.96 % | ||
R1 | 0.579 | 2.95 % | ||
Current price: | 0.563 | |||
Support | S1 | 0.561 | -0.340 % | |
S2 | 0.555 | -1.36 % | ||
S3 | 0.546 | -3.00 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.610 | 8.44 % | |
R2 | 0.608 | 8.06 % | ||
R1 | 0.590 | 4.89 % | ||
Current price | 0.563 | |||
Support | S1 | 0.525 | -6.76% | |
S2 | 0.499 | -11.22% | ||
S3 | 0.487 | -13.40% |
FAQ
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