ASA Gold and Precious Metals Limited Stock Forecast
ASA Gold and Precious Metals Limited stock price up 0.94% on Tuesday
(Updated on Jun 18, 2024)
The ASA Gold and Precious Metals Limited stock price gained 0.94% on the last trading day (Tuesday, 18th Jun 2024), rising from $17.11 to $17.27. During the last trading day the stock fluctuated 1.94% from a day low at $16.98 to a day high of $17.31. The price has risen in 6 of the last 10 days but is still down by -2.7% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 17 thousand more shares were traded than the day before. In total, 34 thousand shares were bought and sold for approximately $589.70 thousand.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $17.16 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 16.60% during the next 3 months and, with a 90% probability hold a price between $20.00 and $23.38 at the end of this 3-month period.
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ASA Signals & Forecast
ASA Gold and Precious 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. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The ASA Gold and Precious Metals Limited 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 $17.30 and $18.03. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 21, 2024, and so far it has fallen -10.01%. 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).
Support, Risk & Stop-loss for ASA Gold and Precious Metals Limited stock
ASA Gold and Precious Metals Limited finds support from accumulated volume at $16.99 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 $0.330 between high and low, or 1.94%. For the last week, the stock has had daily average volatility of 1.86%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ASA) For The Upcoming Trading Day Of Thursday 20th
For the upcoming trading day on Thursday, 20th we expect ASA Gold and Precious Metals Limited to open at $17.19, and during the day (based on 14 day Average True Range), to move between $16.87 and $17.67, which gives a possible trading interval of +/-$0.398 (+/-2.30%) up or down from last closing price. If ASA Gold and Precious Metals Limited takes out the full calculated possible swing range there will be an estimated 4.61% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $17.31 (0.23%) than the support at $16.99 (1.62%), 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 ASA Gold and Precious Metals Limited stock A Buy?
The ASA Gold and Precious Metals Limited stock holds several negative signals and despite the positive trend, we believe ASA Gold and Precious Metals Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.395 Sell Candidate Unchanged
Predicted Opening Price for ASA Gold and Precious Metals Limited of Thursday, June 20, 2024
| Fair opening price June 20, 2024 | Current price |
|---|---|
| $17.19 ( 0.483%) | $17.27 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ASA
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 17.52 | 1.43% |
| R2 | 17.39 | 0.698% |
| R1 | 17.31 | 0.247% |
| Price | 17.27 | |
| S1 | 17.06 | -1.21% |
| S2 | 16.98 | -1.66% |
| S3 | 16.86 | -2.39% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 17.67 | 2.32% |
| R2 | 17.34 | 0.405% |
| R1 | 17.31 | 0.232% |
| Price | 17.27 | |
| S1 | 16.99 | -1.62% |
| S2 | 16.97 | -1.74% |
| S3 | 15.36 | -11.06% |
ASA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 03, 2024 | May 03, 2024 | May 16, 2024 | $0.0200 | 0.107% |
| 2 | Sep 25, 2023 | Nov 14, 2023 | Nov 22, 2023 | $0.0100 | 0.0705% |
| 3 | Mar 28, 2023 | May 05, 2023 | May 18, 2023 | $0.0100 | 0.0630% |
| 4 | Sep 26, 2022 | Nov 10, 2022 | Nov 28, 2018 | $0.0100 | 0.114% |
| 5 | Mar 24, 2022 | May 06, 2022 | May 19, 2022 | $0.0100 | 0.0532% |
FAQ
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