Argent Minerals Limited Stock Forecast
Red day on Thursday for Argent Minerals Limited stock after losing 0%
(Updated on May 30, 2024)
No changes to the price of Argent Minerals Limited stock on the last trading day (Thursday, 30th May 2024). During the last trading day the stock fluctuated 0% from a day low at $0.0220 to a day high of $0.0220. The price has been going up and down for this period, and there has been a 4.76% gain for the last 2 weeks.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 107.18% during the next 3 months and, with a 90% probability hold a price between $0.0409 and $0.0567 at the end of this 3-month period.
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ARD.AX Signals & Forecast
The Argent Minerals Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.0217 and $0.0193. A breakdown below any of these levels will issue sell signals. 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. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 sell signal from a double top formation was found on Tuesday, May 28, 2024 and based on theory for this formation the price should fall by -9.09% to $0.0200 within 4 trading days since signal was issued (Friday, May 31, 2024).
Support, Risk & Stop-loss for Argent Minerals Limited stock
Argent Minerals Limited finds support from accumulated volume at $0.0210 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock 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 4.77%
Our recommended stop-loss: $0.0207 (-5.94%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (ARD.AX) For The Upcoming Trading Day Of Friday 31st
For the upcoming trading day on Friday, 31st we expect Argent Minerals Limited to open at $0.0220, and during the day (based on 14 day Average True Range), to move between $0.0204 and $0.0236, which gives a possible trading interval of +/-$0.0016 (+/-7.47%) up or down from last closing price. If Argent Minerals Limited takes out the full calculated possible swing range there will be an estimated 14.94% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0210 (4.55%) than the resistance at $0.0230 (4.55%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Argent Minerals Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Argent Minerals Limited stock to perform well in the short-term.
Current score: 4.610 Buy Candidate Unchanged
Predicted Opening Price for Argent Minerals Limited of Friday, May 31, 2024
| Fair opening price May 31, 2024 | Current price |
|---|---|
| $0.0220 ( 0.00000000%) | $0.0220 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ARD.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0220 | 0.00000000 % | |
| R2 | 0.0220 | 0.00000000 % | ||
| R1 | 0.0220 | 0.00000000 % | ||
| Current price: | 0.0220 | |||
| Support | S1 | 0.0220 | 0.00000000 % | |
| S2 | 0.0220 | 0.00000000 % | ||
| S3 | 0.0220 | 0.00000000 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0.0230 | 4.55 % | ||
| Current price | 0.0220 | |||
| Support | S1 | 0.0210 | -4.55% | |
| S2 | 0.0190 | -13.64% | ||
| S3 | 0.0170 | -22.73% |
FAQ
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