Ares Strategic Mining Inc. Stock Forecast
Stronger technical forecast for Ares Strategic Mining Inc. stock price after Friday trading.
(Updated on Apr 26, 2024)
The Ares Strategic Mining Inc. stock price gained 4.04% on the last trading day (Friday, 26th Apr 2024), rising from $0.135 to $0.140. During the last trading day the stock fluctuated 8.46% from a day low at $0.136 to a day high of $0.147. The price has been going up and down for this period, and there has been a -2.14% loss 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, 129 thousand more shares were traded than the day before. In total, 290 thousand shares were bought and sold for approximately $40.66 thousand.
The stock lies in the middle of a wide and weak 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 2.32% during the next 3 months and, with a 90% probability hold a price between $0.136 and $0.157 at the end of this 3-month period.
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ARSMF Signals & Forecast
The Ares Strategic Mining Inc. 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 $0.141 and $0.142. 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). Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 4.04%. Further rise is indicated until a new top pivot has been found. Ares Strategic Mining Inc. 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 Ares Strategic Mining Inc. stock
Ares Strategic Mining Inc. finds support from accumulated volume at $0.139 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0115 between high and low, or 8.46%. For the last week, the stock has had daily average volatility of 7.61%.
Our recommended stop-loss: $0.134 (-4.42%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (ARSMF) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Ares Strategic Mining Inc. to open at $0.141, and during the day (based on 14 day Average True Range), to move between $0.129 and $0.151, which gives a possible trading interval of +/-$0.0113 (+/-8.06%) up or down from last closing price. If Ares Strategic Mining Inc. takes out the full calculated possible swing range there will be an estimated 16.12% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.139 (0.57%) than the resistance at $0.143 (2.07%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Ares Strategic Mining Inc. stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.504 Buy Candidate Upgraded
Predicted Opening Price for Ares Strategic Mining Inc. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $0.141 ( 0.786%) | $0.140 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ARSMF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.153 | 9.00 % | |
| R2 | 0.148 | 5.86 % | ||
| R1 | 0.145 | 3.92 % | ||
| Current price: | 0.140 | |||
| Support | S1 | 0.137 | -2.35 % | |
| S2 | 0.134 | -4.29 % | ||
| S3 | 0.130 | -7.43 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.148 | 5.43 % | |
| R2 | 0.144 | 2.79 % | ||
| R1 | 0.143 | 2.07 % | ||
| Current price | 0.140 | |||
| Support | S1 | 0.139 | -0.571% | |
| S2 | 0.136 | -3.14% | ||
| S3 | 0.135 | -3.89% |
FAQ
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