Buru Energy Limited Stock Forecast
Buru Energy Limited stock upgraded to Hold/Accumulate.
(Updated on May 31, 2024)
The Buru Energy Limited stock price gained 1.09% on the last trading day (Friday, 31st May 2024), rising from $0.0920 to $0.0930. During the last trading day the stock fluctuated 3.30% from a day low at $0.0910 to a day high of $0.0940. The price has fallen in 5 of the last 10 days and is down by -6.06% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 205 thousand more shares were traded than the day before. In total, 340 thousand shares were bought and sold for approximately $31.63 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -20.06% during the next 3 months and, with a 90% probability hold a price between $0.0666 and $0.0890 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.
BRU.AX Signals & Forecast
There are mixed signals in the stock today. The Buru Energy Limited 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 $0.0941 and $0.101. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Monday, May 06, 2024, and so far it has risen 1.09%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Buru Energy Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Buru Energy Limited stock
Buru Energy Limited finds support from accumulated volume at $0.0920 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.0030 (3.30%) between high and low. For the last week, the stock has had daily average volatility of 4.38%.
Our recommended stop-loss: $0.0876 (-5.78%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 30 days ago.)
Trading Expectations (BRU.AX) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Buru Energy Limited to open at $0.0927, and during the day (based on 14 day Average True Range), to move between $0.0881 and $0.0979, which gives a possible trading interval of +/-$0.0049 (+/-5.23%) up or down from last closing price. If Buru Energy Limited takes out the full calculated possible swing range there will be an estimated 10.47% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0920 (1.08%) than the resistance at $0.0990 (6.45%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Buru Energy Limited stock A Buy?
Buru Energy 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: 0.009 Hold/Accumulate Upgraded
Predicted Opening Price for Buru Energy Limited of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| $0.0927 ( 0.358%) | $0.0930 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BRU.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0957 | 2.87 % | |
| R2 | 0.0945 | 1.64 % | ||
| R1 | 0.0938 | 0.87 % | ||
| Current price: | 0.0930 | |||
| Support | S1 | 0.0915 | -1.59 % | |
| S2 | 0.0908 | -2.35 % | ||
| S3 | 0.0897 | -3.58 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.115 | 23.66 % | |
| R2 | 0.110 | 18.28 % | ||
| R1 | 0.0990 | 6.45 % | ||
| Current price | 0.0930 | |||
| Support | S1 | 0.0920 | -1.08% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
Click here for our free guide on how to buy Buru Energy Limited Stock.
