MacDonald Mines Exploration Ltd. Stock Forecast

Volatile ride for MacDonald Mines Exploration Ltd. stock price on Friday moving between $0.0450 and $0.0500
(Updated on Jun 28, 2024)

BMK.V Signals & Forecast

A sell signal was issued from a pivot top point on Wednesday, June 26, 2024, and so far it has fallen -25.00%. 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). MacDonald Mines Exploration Ltd. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued. Some positive signals were issued as well, and these may have some influence on the near short-term development. The MacDonald Mines Exploration Ltd. 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 $0.0479. On a fall, the stock will find some support from the long-term average at approximately $0.0409. 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.

Support, Risk & Stop-loss for MacDonald Mines Exploration Ltd. stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.0400 and $0.0350. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $0.0350 may give a huge drop in the stock price.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0050 between high and low, or 11.11%. For the last week, the stock has had daily average volatility of 11.39%.

Our recommended stop-loss: $0.0427 (-5.06%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 3 days ago.)

Trading Expectations (BMK.V) For The Upcoming Trading Day Of Tuesday 2nd

For the upcoming trading day on Tuesday, 2nd we expect MacDonald Mines Exploration Ltd. to open at $0.0467, and during the day (based on 14 day Average True Range), to move between $0.0402 and $0.0498, which gives a possible trading interval of +/-$0.0048 (+/-10.77%) up or down from last closing price. If MacDonald Mines Exploration Ltd. takes out the full calculated possible swing range there will be an estimated 21.53% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0400 (11.11%) than the resistance at $0.0500 (11.11%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is MacDonald Mines Exploration Ltd. stock A Buy?

Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.435 Buy Candidate Upgraded

Predicted Opening Price for MacDonald Mines Exploration Ltd. of Tuesday, July 2, 2024

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