Arafura Resources Ltd Stock Forecast

Arafura Resources Ltd stock price down 0% on Friday
(Updated on Jun 28, 2024)

ARU.AX Signals & Forecast

There are mixed signals in the stock today. The Arafura Resources Ltd 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 A$0.176 and A$0.184. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 9.37%. 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). Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point".

Support, Risk & Stop-loss for Arafura Resources Ltd stock

Arafura Resources Ltd finds support from accumulated volume at A$0.170 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 A$0.0080 between high and low, or 4.65%. For the last week, the stock has had daily average volatility of 4.75%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (ARU.AX) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Arafura Resources Ltd to open at A$0.176, and during the day (based on 14 day Average True Range), to move between A$0.166 and A$0.184, which gives a possible trading interval of +/-A$0.0092 (+/-5.23%) up or down from last closing price. If Arafura Resources Ltd takes out the full calculated possible swing range there will be an estimated 10.46% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at A$0.170 (2.86%) than the resistance at A$0.185 (5.71%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Arafura Resources Ltd stock A Buy?

Arafura Resources Ltd holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -3.012 Sell Candidate Unchanged

Predicted Opening Price for Arafura Resources Ltd of Monday, July 1, 2024

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