Archer Materials Limited Stock Forecast

Red day on Friday for Archer Materials Limited stock after losing 0%
(Updated on May 03, 2024)

ARRXF Signals & Forecast

The Archer Materials Limited 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 $0.301 and $0.319. A breakdown below any of these levels will issue sell signals. 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, May 02, 2024, and so far it has fallen 0%. 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). 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.

Support, Risk & Stop-loss for Archer Materials Limited stock

Archer Materials Limited finds support from accumulated volume at $0.343 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 2.71%

Our recommended stop-loss: $0.338 (-3.80%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (ARRXF) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Archer Materials Limited to open at $0.352, and during the day (based on 14 day Average True Range), to move between $0.335 and $0.369, which gives a possible trading interval of +/-$0.0171 (+/-4.85%) up or down from last closing price. If Archer Materials Limited takes out the full calculated possible swing range there will be an estimated 9.70% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.360 (2.36%) than the support at $0.343 (2.62%), 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 Archer Materials Limited stock A Buy?

Archer Materials Limited 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.

Current score: -0.213 Hold/Accumulate Unchanged

Predicted Opening Price for Archer Materials Limited of Monday, May 6, 2024

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