Beowulf Mining PLC Stock Forecast

Weaker technical forecast for Beowulf Mining PLC as stock downgraded to Sell Candidate.
(Updated on Apr 26, 2024)

BEM.L Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, April 23, 2024, and so far it has risen 10.17%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Beowulf Mining PLC 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 £0.696. On a fall, the stock will find some support from the short-term average at £0.620. 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. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point".

Support, Risk & Stop-loss for Beowulf Mining PLC stock

On the downside, the stock finds support just below today's level from accumulated volume at £0.607 and £0.600. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Beowulf Mining PLC finds support just below today's level at £0.607. If this is broken, then the next support from accumulated volume will be at £0.600 and £0.590.

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 £0.0540 between high and low, or 8.36%. For the last week the stock has had daily average volatility of 17.83%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (BEM.L) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect Beowulf Mining PLC to open at £0.665, and during the day (based on 14 day Average True Range), to move between £0.545 and £0.755, which gives a possible trading interval of +/-£0.105 (+/-16.14%) up or down from last closing price. If Beowulf Mining PLC takes out the full calculated possible swing range there will be an estimated 32.27% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at £0.675 (3.85%) than the support at £0.607 (6.62%), 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 Beowulf Mining PLC stock A Buy?

Beowulf Mining PLC 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -1.684 Sell Candidate Downgraded

Predicted Opening Price for Beowulf Mining PLC of Monday, April 29, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.