Bluejay Mining plc Stock Forecast

Stronger technical forecast for Bluejay Mining plc stock price after Monday trading.
(Updated on Jun 17, 2024)

BLLYF Signals & Forecast

The Bluejay Mining plc stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $0.0053. On a fall, the stock will find some support from the long-term average at approximately $0.0045. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Friday, June 14, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. 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". The very low volume increases the risk and reduces the other technical signals issued.

Buy

Special Signal Notification

Double Bottom Formation

A buy signal from a double bottom formation was found on Wednesday, May 29, 2024 with a target of $0.0046. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.

Support, Risk & Stop-loss for Bluejay Mining plc stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.0043 and $0.0043. 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, Bluejay Mining plc finds support just below today's level at $0.0043. If this is broken, then the next support from accumulated volume will be at $0.0043 and $0.0040.

In general the stock tends to have very controlled movements and therefore the general risk is considered very 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 between high and low, or 0%. For the last week the stock has had daily average volatility of 16.22%

Our recommended stop-loss: $0.0048 (-3.84%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (BLLYF) For The Upcoming Trading Day Of Tuesday 18th

For the upcoming trading day on Tuesday, 18th we expect Bluejay Mining plc to open at $0.0050, and during the day (based on 14 day Average True Range), to move between $0.0042 and $0.0058, which gives a possible trading interval of +/-$0.0008 (+/-15.42%) up or down from last closing price. If Bluejay Mining plc takes out the full calculated possible swing range there will be an estimated 30.84% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0052 (3.00%) than the support at $0.0043 (14.00%), 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 Bluejay Mining plc stock A Buy?

Bluejay Mining plc 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: 0.000 Hold/Accumulate Upgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Bluejay Mining plc of Tuesday, June 18, 2024

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