BCI Minerals Limited Stock Forecast
BCI Minerals Limited stock downgraded to Sell Candidate
(Updated on May 30, 2024)
The BCI Minerals Limited stock price fell by -4.17% on the last day (Thursday, 30th May 2024) from $0.240 to $0.230. During the last trading day the stock fluctuated 4.35% from a day low at $0.230 to a day high of $0.240. The price has been going up and down for this period, and there has been a -2.13% loss for the last 2 weeks. 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 -92 thousand shares and in total, 175 thousand shares were bought and sold for approximately $40.25 thousand.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect BCI Minerals Limited stock with a 90% probability to be traded between $0.221 and $0.246 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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BCI.AX Signals & Forecast
There are few to no technical positive signals at the moment. The BCI Minerals 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 $0.231 and $0.232. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 29, 2024, and so far it has fallen -4.17%. 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 BCI Minerals Limited stock
BCI Minerals Limited finds support from accumulated volume at $0.225 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved $0.0100 between high and low, or 4.35%. For the last week the stock has had daily average volatility of 3.51%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BCI.AX) For The Upcoming Trading Day Of Friday 31st
For the upcoming trading day on Friday, 31st we expect BCI Minerals Limited to open at $0.233, and during the day (based on 14 day Average True Range), to move between $0.222 and $0.238, which gives a possible trading interval of +/-$0.0075 (+/-3.27%) up or down from last closing price. If BCI Minerals Limited takes out the full calculated possible swing range there will be an estimated 6.53% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.235 (2.17%) than the support at $0.225 (2.17%), 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 BCI Minerals Limited stock A Buy?
BCI Minerals Limited holds several negative signals and is within a 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -2.099 Sell Candidate Downgraded
Predicted Opening Price for BCI Minerals Limited of Friday, May 31, 2024
| Fair opening price May 31, 2024 | Current price |
|---|---|
| $0.233 ( 1.45%) | $0.230 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BCI.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.243 | 5.80 % | |
| R2 | 0.240 | 4.14 % | ||
| R1 | 0.237 | 3.11 % | ||
| Current price: | 0.230 | |||
| Support | S1 | 0.230 | -0.212 % | |
| S2 | 0.227 | -1.24 % | ||
| S3 | 0.223 | -2.90 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.242 | 5.22 % | |
| R2 | 0.240 | 4.35 % | ||
| R1 | 0.235 | 2.17 % | ||
| Current price | 0.230 | |||
| Support | S1 | 0.225 | -2.17% | |
| S2 | 0.220 | -4.35% | ||
| S3 | 0 | . |
BCI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 26, 2014 | Sep 01, 2014 | Sep 25, 2014 | $0.127 | 8.24% |
| 2 | Feb 26, 2014 | Mar 03, 2014 | Mar 25, 2014 | $0.144 | 3.41% |
| 3 | Aug 28, 2013 | Sep 03, 2013 | Sep 24, 2013 | $0.253 | 6.87% |
| 4 | Feb 27, 2013 | Mar 04, 2013 | Mar 22, 2013 | $0.0422 | 1.48% |
| 5 | Sep 04, 2012 | Sep 11, 2012 | Oct 02, 2012 | $0.127 | 5.49% |
FAQ
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