Bushveld Minerals Limited Stock Forecast
Red day on Wednesday for Bushveld Minerals Limited
(Updated on Jun 19, 2024)
No changes to the price of Bushveld Minerals Limited stock on the last trading day (Wednesday, 19th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at £0.625 to a day high of £0.625. The price has been going up and down for this period, and there has been a -3.85% loss for the last 2 weeks.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at £0.698 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -52.21% during the next 3 months and, with a 90% probability hold a price between £0.0799 and £0.334 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
BMN.L Signals & Forecast
There are few to no technical positive signals at the moment. The Bushveld Minerals Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at £0.660 and £0.633. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, June 18, 2024, and so far it has fallen 0%. 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 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.
Support, Risk & Stop-loss for Bushveld Minerals Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at £0.570 and £0.550. 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, Bushveld Minerals Limited finds support just below today's level at £0.570. If this is broken, then the next support from accumulated volume will be at £0.550 and £0.500.
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 11.48%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BMN.L) For The Upcoming Trading Day Of Thursday 20th
For the upcoming trading day on Thursday, 20th we expect Bushveld Minerals Limited to open at £0.625, and during the day (based on 14 day Average True Range), to move between £0.514 and £0.736, which gives a possible trading interval of +/-£0.111 (+/-17.83%) up or down from last closing price. If Bushveld Minerals Limited takes out the full calculated possible swing range there will be an estimated 35.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £0.650 (4.00%) than the support at £0.570 (8.80%), 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 Bushveld Minerals Limited stock A Buy?
Bushveld Minerals Limited holds several negative signals and is within a very 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.
Current score: -3.453 Sell Candidate Unchanged
Predicted Opening Price for Bushveld Minerals Limited of Thursday, June 20, 2024
| Fair opening price June 20, 2024 | Current price |
|---|---|
| £0.625 ( 0%) | £0.625 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BMN.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.625 | - |
| R2 | 0.625 | - |
| R1 | 0.625 | - |
| Price | 0.625 | |
| S1 | 0.625 | - |
| S2 | 0.625 | - |
| S3 | 0.625 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.700 | 12.00% |
| R2 | 0.660 | 5.60% |
| R1 | 0.650 | 4.00% |
| Price | 0.625 | |
| S1 | 0.570 | -8.80% |
| S2 | 0.550 | -12.00% |
| S3 | 0.500 | -20.00% |
FAQ
Click here for our free guide on how to buy Bushveld Minerals Limited Stock.
