Askari Metals Limited Stock Forecast
Green day on Friday for Askari Metals Limited
(Updated on May 17, 2024)
The Askari Metals Limited stock price gained 4.17% on the last trading day (Friday, 17th May 2024), rising from $0.0480 to $0.0500. During the last trading day the stock fluctuated 4.17% from a day low at $0.0480 to a day high of $0.0500. The price has fallen in 4 of the last 10 days. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 248 thousand more shares were traded than the day before. In total, 256 thousand shares were bought and sold for approximately $12.82 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -47.58% during the next 3 months and, with a 90% probability hold a price between $0.0188 and $0.0281 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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AS2.AX Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 29, 2024, and so far it has risen 6.38%. 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). Askari Metals Limited 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Askari Metals Limited 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 $0.0504 and $0.0501. A break-up above any of these levels will issue buy signals.
Support, Risk & Stop-loss for Askari Metals Limited stock
Askari Metals Limited finds support from accumulated volume at $0.0490 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 $0.0020 between high and low, or 4.17%. For the last week, the stock has had daily average volatility of 5.40%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AS2.AX) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Askari Metals Limited to open at $0.0493, and during the day (based on 14 day Average True Range), to move between $0.0466 and $0.0534, which gives a possible trading interval of +/-$0.0034 (+/-6.84%) up or down from last closing price. If Askari Metals Limited takes out the full calculated possible swing range there will be an estimated 13.69% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0490 (2.00%) than the resistance at $0.0520 (4.00%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Askari Metals Limited stock A Buy?
Askari Metals Limited 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: -1.210 Sell Candidate Unchanged
Predicted Opening Price for Askari Metals Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.0493 ( 1.33%) | $0.0500 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AS2.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0513 | 2.67 % | |
| R2 | 0.0506 | 1.14 % | ||
| R1 | 0.0501 | 0.195 % | ||
| Current price: | 0.0500 | |||
| Support | S1 | 0.0486 | -2.86 % | |
| S2 | 0.0481 | -3.81 % | ||
| S3 | 0.0473 | -5.33 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0550 | 10.00 % | |
| R2 | 0.0530 | 6.00 % | ||
| R1 | 0.0520 | 4.00 % | ||
| Current price | 0.0500 | |||
| Support | S1 | 0.0490 | -2.00% | |
| S2 | 0.0480 | -4.00% | ||
| S3 | 0.0470 | -6.00% |
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