Ares Strategic Mining Inc. Stock Forecast
High volatility in Ares Strategic Mining Inc. stock price on Friday which ended trading at $0.145
(Updated on May 10, 2024)
The Ares Strategic Mining Inc. stock price fell by -6.58% on the last day (Friday, 10th May 2024) from $0.155 to $0.145. During the last trading day the stock fluctuated 15.42% from a day low at $0.131 to a day high of $0.151. The price has risen in 5 of the last 10 days and is up by 3.43% over the past 2 weeks. Volume has increased on the last day by 375 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, 507 thousand shares were bought and sold for approximately $73.34 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 6.90% during the next 3 months and, with a 90% probability hold a price between $0.146 and $0.174 at the end of this 3-month period.
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ARSMF Signals & Forecast
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. 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. On corrections up, there will be some resistance from the lines at $0.154 and $0.145. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 06, 2024, and so far it has fallen -10.78%. Further fall is indicated until a new bottom pivot has been found. Ares Strategic Mining Inc. 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 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 $0.144 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 $0.0202 between high and low, or 15.42%. For the last week, the stock has had daily average volatility of 9.50%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ARSMF) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Ares Strategic Mining Inc. to open at $0.142, and during the day (based on 14 day Average True Range), to move between $0.132 and $0.158, which gives a possible trading interval of +/-$0.0131 (+/-9.05%) 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 18.10% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.144 (0.62%) than the resistance at $0.146 (0.94%), 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?
The Ares Strategic Mining Inc. stock holds several negative signals and despite the positive trend, we believe Ares Strategic Mining Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. 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 Strong Sell candidate.
Current score: -6.220 Strong Sell Candidate Downgraded
Predicted Opening Price for Ares Strategic Mining Inc. of Monday, May 13, 2024
Fair opening price May 13, 2024 | Current price |
---|---|
$0.142 ( 1.70%) | $0.145 |
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 | 0.163 | 12.25 % | |
R2 | 0.155 | 6.92 % | ||
R1 | 0.150 | 3.63 % | ||
Current price: | 0.145 | |||
Support | S1 | 0.135 | -7.03 % | |
S2 | 0.130 | -10.32 % | ||
S3 | 0.122 | -15.65 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.155 | 7.04 % | |
R2 | 0.148 | 1.93 % | ||
R1 | 0.146 | 0.94 % | ||
Current price | 0.145 | |||
Support | S1 | 0.144 | -0.622% | |
S2 | 0.143 | -1.31% | ||
S3 | 0.140 | -3.31% |
FAQ
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