De Grey Mining Ltd Stock Forecast
Red day on Thursday for De Grey Mining Ltd
(Updated on May 16, 2024)
The De Grey Mining Ltd stock price fell by -2.49% on the last day (Thursday, 16th May 2024) from $0.782 to $0.763. During the last trading day the stock fluctuated 1.32% from a day low at $0.760 to a day high of $0.770. The price has been going up and down for this period, and there has been a -3.96% loss for the last 2 weeks. Volume has increased on the last day by 156 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 186 thousand shares were bought and sold for approximately $141.98 thousand.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.759 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -2.72% during the next 3 months and, with a 90% probability hold a price between $0.739 and $0.88 at the end of this 3-month period.
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DGMLF Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, May 14, 2024, and so far it has risen 0.329%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The De Grey Mining 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 $0.782 and $0.84. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). De Grey Mining Ltd 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 De Grey Mining Ltd stock
De Grey Mining Ltd finds support from accumulated volume at $0.760 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0100 between high and low, or 1.32%. For the last week, the stock has had daily average volatility of 5.80%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DGMLF) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect De Grey Mining Ltd to open at $0.764, and during the day (based on 14 day Average True Range), to move between $0.726 and $0.799, which gives a possible trading interval of +/-$0.0362 (+/-4.75%) up or down from last closing price. If De Grey Mining Ltd takes out the full calculated possible swing range there will be an estimated 9.49% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.760 (0.33%) than the resistance at $0.87 (13.44%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is De Grey Mining Ltd stock A Buy?
De Grey Mining Ltd holds several negative signals and is within a 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.
Current score: -4.177 Sell Candidate Unchanged
Predicted Opening Price for De Grey Mining Ltd of Friday, May 17, 2024
Fair opening price May 17, 2024 | Current price |
---|---|
$0.764 ( 0.219%) | $0.763 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DGMLF
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.774 | 1.53 % | |
R2 | 0.770 | 1.03 % | ||
R1 | 0.768 | 0.720 % | ||
Current price: | 0.763 | |||
Support | S1 | 0.760 | -0.282 % | |
S2 | 0.758 | -0.592 % | ||
S3 | 0.754 | -1.09 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.89 | 16.20 % | |
R2 | 0.88 | 15.41 % | ||
R1 | 0.87 | 13.44 % | ||
Current price | 0.763 | |||
Support | S1 | 0.760 | -0.328% | |
S2 | 0 | . | ||
S3 | 0 | . |
FAQ
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