Almadex Minerals Stock Forecast
Big movements in Almadex Minerals stock price on Friday moving 41.00% between high and low
(Updated on May 17, 2024)
The Almadex Minerals stock price fell by -3.76% on the last day (Friday, 17th May 2024) from $0.0287 to $0.0276. During the last trading day the stock fluctuated 41.00% from a day low at $0.0200 to a day high of $0.0282. The price has fallen in 5 of the last 10 days and is down by -10.11% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -2 thousand shares and in total, 8 thousand shares were bought and sold for approximately $227.59 .
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Almadex Minerals stock with a 90% probability to be traded between $0.0230 and $0.0384 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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AXDDF Signals & Forecast
There are few to no technical positive signals at the moment. The Almadex Minerals 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 $0.0290 and $0.0331. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 23, 2024, and so far it has fallen -26.10%. 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). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Almadex Minerals stock
Almadex Minerals finds support from accumulated volume at $0.0274 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0082 between high and low, or 41.00%. For the last week the stock has had daily average volatility of 10.54%.
Almadex Minerals is oversold on RSI14 (19). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AXDDF) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Almadex Minerals to open at $0.0253, and during the day (based on 14 day Average True Range), to move between $0.0254 and $0.0299, which gives a possible trading interval of +/-$0.0022 (+/-8.07%) up or down from last closing price. If Almadex Minerals takes out the full calculated possible swing range there will be an estimated 16.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0274 (0.87%) than the resistance at $0.0331 (19.75%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Almadex Minerals stock A Buy?
Almadex Minerals holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -4.741 Sell Candidate Unchanged
Predicted Opening Price for Almadex Minerals of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.0253 ( 8.54%) | $0.0276 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AXDDF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0335 | 21.13 % | |
| R2 | 0.0303 | 9.80 % | ||
| R1 | 0.0284 | 2.79 % | ||
| Current price: | 0.0276 | |||
| Support | S1 | 0.0221 | -19.87 % | |
| S2 | 0.0202 | -26.87 % | ||
| S3 | 0.0171 | -38.21 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0345 | 24.67 % | |
| R2 | 0.0344 | 24.46 % | ||
| R1 | 0.0331 | 19.75 % | ||
| Current price | 0.0276 | |||
| Support | S1 | 0.0274 | -0.87% | |
| S2 | 0.0248 | -10.27% | ||
| S3 | 0.0235 | -14.98% |
FAQ
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