Classic Minerals Limited Stock Forecast

Classic Minerals Limited stock price down 0% on Tuesday
(Updated on May 28, 2024)

CLZ.AX Signals & Forecast

There are few to no technical positive signals at the moment. The Classic Minerals 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 $0.0057 and $0.0075. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 02, 2024, and so far it has fallen -61.54%. 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). 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". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Classic Minerals Limited stock

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 10.67%.

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

Trading Expectations (CLZ.AX) For The Upcoming Trading Day Of Wednesday 29th

For the upcoming trading day on Wednesday, 29th we expect Classic Minerals Limited to open at $0.0050, and during the day (based on 14 day Average True Range), to move between $0.0042 and $0.0058, which gives a possible trading interval of +/-$0.0008 (+/-16.53%) up or down from last closing price. If Classic Minerals Limited takes out the full calculated possible swing range there will be an estimated 33.06% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $0.0060, some $0.0010 (20.00%) from the current price of $0.0050, our system finds the risk reward not very attractive.

Is Classic Minerals Limited stock A Buy?

The Classic Minerals Limited stock holds several negative signals and despite the positive trend, we believe Classic Minerals Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -4.625 Sell Candidate Unchanged

Predicted Opening Price for Classic Minerals Limited of Wednesday, May 29, 2024

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