Franklin Mining Inc Stock Forecast
Stronger technical forecast for Franklin Mining Inc stock price after Monday trading.
(Updated on May 06, 2024)
No changes to the price of Franklin Mining Inc stock on the last trading day (Monday, 6th May 2024). During the last trading day the stock fluctuated 0% from a day low at $0.0018 to a day high of $0.0018. The price has been going up and down for this period, and there has been a -14.29% loss for the last 2 weeks.
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 -3.72% during the next 3 months and, with a 90% probability hold a price between $0.0013 and $0.0031 at the end of this 3-month period.
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FMNJ Signals & Forecast
Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". 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. The Franklin Mining Inc 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 $0.0019 and $0.0020. 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 16, 2024, and so far it has fallen -25.00%. 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 Franklin Mining Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0017 and $0.0016. 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, Franklin Mining Inc finds support just below today's level at $0.0017. If this is broken, then the next support from accumulated volume will be at $0.0016 and $0.0014.
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 between high and low, or 0%. For the last week, the stock has had daily average volatility of 4.44%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FMNJ) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Franklin Mining Inc to open at $0.0018, and during the day (based on 14 day Average True Range), to move between $0.0015 and $0.0021, which gives a possible trading interval of +/-$0.0003 (+/-16.84%) up or down from last closing price. If Franklin Mining Inc takes out the full calculated possible swing range there will be an estimated 33.68% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0019 (5.56%) than the support at $0.0017 (5.56%), 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 Franklin Mining Inc stock A Buy?
Franklin Mining Inc holds several negative signals and is within a very 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -4.794 Sell Candidate Upgraded
Predicted Opening Price for Franklin Mining Inc of Tuesday, May 7, 2024
Fair opening price May 7, 2024 | Current price |
---|---|
$0.0018 ( 0.00000000%) | $0.0018 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FMNJ
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.0018 | 0.00000000 % | |
R2 | 0.0018 | 0.00000000 % | ||
R1 | 0.0018 | 0.00000000 % | ||
Current price: | 0.0018 | |||
Support | S1 | 0.0018 | 0.00000000 % | |
S2 | 0.0018 | 0.00000000 % | ||
S3 | 0.0018 | 0.00000000 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.0021 | 16.67 % | |
R2 | 0.0020 | 11.11 % | ||
R1 | 0.0019 | 5.56 % | ||
Current price | 0.0018 | |||
Support | S1 | 0.0017 | -5.56% | |
S2 | 0.0016 | -11.11% | ||
S3 | 0.0014 | -22.22% |
FAQ
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