Botswana Diamonds plc Stock Forecast

Big movements in Botswana Diamonds plc stock price on Friday moving 16.67% between high and low
(Updated on May 03, 2024)

BOD.L Signals & Forecast

There are few to no technical positive signals at the moment. The Botswana Diamonds plc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at £0.339 and £0.353. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -26.47%. 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). Botswana Diamonds plc 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".

Support, Risk & Stop-loss for Botswana Diamonds plc stock

On the downside, the stock finds support just below today's level from accumulated volume at £0.275. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at £ may give a huge drop in the stock price.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved £0.0500 between high and low, or 16.67%. For the last week, the stock has had daily average volatility of 14.92%.

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

Trading Expectations (BOD.L) For The Upcoming Trading Day Of Tuesday 7th

For the upcoming trading day on Tuesday, 7th we expect Botswana Diamonds plc to open at £0.317, and during the day (based on 14 day Average True Range), to move between £0.249 and £0.351, which gives a possible trading interval of +/-£0.0506 (+/-16.88%) up or down from last closing price. If Botswana Diamonds plc takes out the full calculated possible swing range there will be an estimated 33.76% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at £0.275 (8.33%) than the resistance at £0.325 (8.33%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Botswana Diamonds plc stock A Buy?

Botswana Diamonds plc 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.

Current score: -7.674 Strong Sell Candidate Downgraded

Predicted Opening Price for Botswana Diamonds plc of Tuesday, May 7, 2024

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