First Mining Finance Stock Forecast
First Mining Finance stock price ended at $0.113 on Friday, after gaining 2.21%.
(Updated on May 03, 2024)
The First Mining Finance stock price gained 2.21% on the last trading day (Friday, 3rd May 2024), rising from $0.111 to $0.113. During the last trading day the stock fluctuated 5.00% from a day low at $0.110 to a day high of $0.116. The price has fallen in 6 of the last 10 days but is still up by 0.84% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 286 thousand more shares were traded than the day before. In total, 349 thousand shares were bought and sold for approximately $39.61 thousand.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 35.87% during the next 3 months and, with a 90% probability hold a price between $0.137 and $0.199 at the end of this 3-month period.
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FFMGF Signals & Forecast
The First Mining Finance stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.111 and $0.108. A breakdown below any of these levels will issue sell signals. First Mining Finance 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. 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 Monday, April 08, 2024, and so far it has fallen -15.90%. 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 First Mining Finance stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0970 and $0.0917. 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, First Mining Finance finds support just below today's level at $0.0970. If this is broken, then the next support from accumulated volume will be at $0.0917 and $0.0886.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0055 between high and low, or 5.00%. For the last week, the stock has had daily average volatility of 8.69%.
Our recommended stop-loss: $0.108 (-4.50%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 19 days ago.)
Trading Expectations (FFMGF) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect First Mining Finance to open at $0.113, and during the day (based on 14 day Average True Range), to move between $0.103 and $0.124, which gives a possible trading interval of +/-$0.0103 (+/-9.11%) up or down from last closing price. If First Mining Finance takes out the full calculated possible swing range there will be an estimated 18.22% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.120 (6.17%) than the support at $0.0970 (14.50%), 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 First Mining Finance 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 First Mining Finance stock to perform well in the short-term.
Current score: 3.303 Buy Candidate Unchanged
Predicted Opening Price for First Mining Finance of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $0.113 ( 0.353%) | $0.113 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FFMGF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.119 | 4.50 % | |
| R2 | 0.116 | 2.64 % | ||
| R1 | 0.115 | 1.50 % | ||
| Current price: | 0.113 | |||
| Support | S1 | 0.111 | -2.20 % | |
| S2 | 0.110 | -3.35 % | ||
| S3 | 0.108 | -5.20 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.135 | 18.91 % | |
| R2 | 0.128 | 12.38 % | ||
| R1 | 0.120 | 6.17 % | ||
| Current price | 0.113 | |||
| Support | S1 | 0.0970 | -14.50% | |
| S2 | 0.0917 | -19.17% | ||
| S3 | 0.0886 | -21.90% |
FAQ
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