Blencowe Resources Plc Stock Forecast

High volatility in Blencowe Resources Plc stock price on Tuesday which ended trading at £5.60
(Updated on Jun 25, 2024)

BRES.L Signals & Forecast

The Blencowe Resources 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 £5.66. On a fall, the stock will find some support from the long-term average at approximately £5.60. 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 Thursday, June 20, 2024, and so far it has fallen -6.67%. 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".

Support, Risk & Stop-loss for Blencowe Resources Plc stock

Blencowe Resources Plc finds support from accumulated volume at £5.55 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved £0.800 between high and low, or 15.38%. For the last week the stock has had daily average volatility of 13.30%.

Our recommended stop-loss: £5.27 (-5.98%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 5 days ago.)

Trading Expectations (BRES.L) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect Blencowe Resources Plc to open at £5.60, and during the day (based on 14 day Average True Range), to move between £5.02 and £6.18, which gives a possible trading interval of +/-£0.581 (+/-10.38%) up or down from last closing price. If Blencowe Resources Plc takes out the full calculated possible swing range there will be an estimated 20.76% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at £5.55 (0.89%) than the resistance at £5.70 (1.79%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Blencowe Resources Plc stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Blencowe Resources Plc stock to perform well in the short-term.

Current score: 3.032 Buy Candidate Unchanged

Predicted Opening Price for Blencowe Resources Plc of Wednesday, June 26, 2024

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