Baker Steel Resources Trust Ltd. Stock Forecast

Baker Steel Resources Trust Ltd. stock price down 0% on Friday
(Updated on Jun 28, 2024)

BSRT.L Signals & Forecast

The volume rose on the last day while price remained unchanged. This may be an early warning and the stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Baker Steel Resources Trust Ltd. 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 £53.69 and £54.43. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 24, 2024, and so far it has fallen -5.36%. 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).

Support, Risk & Stop-loss for Baker Steel Resources Trust Ltd. stock

On the downside, the stock finds support just below today's level from accumulated volume at £50.00 and £45.40. 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, Baker Steel Resources Trust Ltd. finds support just below today's level at £50.00. If this is broken, then the next support from accumulated volume will be at £45.40 and £45.30.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved £1.63 between high and low, or 3.12%. For the last week the stock has had daily average volatility of 3.37%.

Our recommended stop-loss: £50.18 (-5.31%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 30 days ago.)

Trading Expectations (BSRT.L) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Baker Steel Resources Trust Ltd. to open at £53.04, and during the day (based on 14 day Average True Range), to move between £51.04 and £54.96, which gives a possible trading interval of +/-£1.96 (+/-3.70%) up or down from last closing price. If Baker Steel Resources Trust Ltd. takes out the full calculated possible swing range there will be an estimated 7.41% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at £53.75 (1.42%) than the support at £50.00 (5.66%), 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 Baker Steel Resources Trust Ltd. stock A Buy?

Baker Steel Resources Trust Ltd. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.000 Hold/Accumulate Unchanged

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 Baker Steel Resources Trust Ltd. of Monday, July 1, 2024

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