Antipa Minerals Limited Stock Forecast
On Friday, Antipa Minerals Limited stock price gained an impressive 9.09%
(Updated on May 03, 2024)
The Antipa Minerals Limited stock price gained 9.09% on the last trading day (Friday, 3rd May 2024), rising from $0.0110 to $0.0120. During the last trading day the stock fluctuated 9.09% from a day low at $0.0110 to a day high of $0.0120. The price has fallen in 4 of the last 10 days and is down by -7.69% for this period. Volume fell on the last day by -258 thousand shares and in total, 1 million shares were bought and sold for approximately $17.14 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 Antipa Minerals Limited stock with a 90% probability to be traded between $0.0108 and $0.0138 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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AZY.AX Signals & Forecast
There are mixed signals in the stock today. The Antipa Minerals Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $0.0123. On a fall, the stock will find some support from the short-term average at $0.0114. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. A buy signal was issued from a pivot bottom point on Wednesday, April 24, 2024, and so far it has risen 9.09%. Further rise is indicated until a new top pivot has been found.
A buy signal from a double bottom formation was found on Wednesday, April 24, 2024 and based on theory for this formation the price should go up by 38.33% to $0.0166 within 15 trading days since signal was issued (Monday, May 06, 2024).
Support, Risk & Stop-loss for Antipa Minerals Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0110. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the stock price.
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 $0.0010 between high and low, or 9.09%. For the last week the stock has had daily average volatility of 11.27%.
Our recommended stop-loss: $0.0116 (-3.50%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (AZY.AX) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Antipa Minerals Limited to open at $0.0117, and during the day (based on 14 day Average True Range), to move between $0.0109 and $0.0131, which gives a possible trading interval of +/-$0.0011 (+/-9.58%) up or down from last closing price. If Antipa Minerals Limited takes out the full calculated possible swing range there will be an estimated 19.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0130 (8.33%) than the support at $0.0110 (8.33%), 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 Antipa Minerals Limited stock A Buy?
Antipa Minerals Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.632 Hold/Accumulate Upgraded
Predicted Opening Price for Antipa Minerals Limited of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $0.0117 ( 2.78%) | $0.0120 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AZY.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0127 | 5.56 % | |
| R2 | 0.0123 | 2.37 % | ||
| R1 | 0.0120 | 0.406 % | ||
| Current price: | 0.0120 | |||
| Support | S1 | 0.0113 | -5.96 % | |
| S2 | 0.0110 | -7.93 % | ||
| S3 | 0.0107 | -11.11 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0.0140 | 16.67 % | ||
| R1 | 0.0130 | 8.33 % | ||
| Current price | 0.0120 | |||
| Support | S1 | 0.0110 | -8.33% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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