Bushveld Minerals Limited Stock Forecast
Big movements in Bushveld Minerals Limited stock price on Friday moving 216.67% between high and low
(Updated on Jun 28, 2024)
The Bushveld Minerals Limited stock price gained 87.97% on the last trading day (Friday, 28th Jun 2024), rising from £0.399 to £0.750. During the last trading day the stock fluctuated 216.67% from a day low at £0.300 to a day high of £0.95. The price has risen in 5 of the last 10 days and is up by 25% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 118 million more shares were traded than the day before. In total, 118 million shares were bought and sold for approximately £88.13 million.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is £0.608, a level that may pose a second chance to hit a runner. According to fan-theory £1.06 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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BMN.L Signals & Forecast
The Bushveld Minerals Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at £0.481 and £0.596. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 150.00%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
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 £0.660 and £0.650. 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 £0.660. If this is broken, then the next support from accumulated volume will be at £0.650 and £0.570.
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 £0.650 between high and low, or 216.67%. For the last week, the stock has had daily average volatility of 110.35%.
Our recommended stop-loss: £0.720 (-4.00%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 19 days ago.)
Trading Expectations (BMN.L) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Bushveld Minerals Limited to open at £0.667, and during the day (based on 14 day Average True Range), to move between £0.591 and £0.91, which gives a possible trading interval of +/-£0.159 (+/-21.21%) up or down from last closing price. If Bushveld Minerals Limited takes out the full calculated possible swing range there will be an estimated 42.42% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £0.80 (6.67%) than the support at £0.660 (12.00%), 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.
Earnings coming up
Bushveld Minerals Limited will release earnings BMO on Wednesday, July 03, 2024. We will update the financials statements for Bushveld Minerals Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 8.81% in the first trading day after earnings release.
Is Bushveld Minerals Limited stock A Buy?
Bushveld Minerals Limited 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 Bushveld Minerals Limited of Monday, July 1, 2024
Fair opening price July 1, 2024 | Current price |
---|---|
£0.667 ( 11.11%) | £0.750 |
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 | 1.32 | 75.56% |
R2 | 1.07 | 42.45% |
R1 | 0.91 | 22.00% |
Price | 0.750 | |
S1 | 0.418 | -44.22% |
S2 | 0.265 | -64.67% |
S3 | 0.0167 | -97.78% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0 | - |
R2 | 0.82 | 8.80% |
R1 | 0.80 | 6.67% |
Price | 0.750 | |
S1 | 0.660 | -12.00% |
S2 | 0.650 | -13.33% |
S3 | 0.570 | -24.00% |
FAQ
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