Firering Strategic Minerals Plc Stock Forecast
Green day on Tuesday for Firering Strategic Minerals Plc
(Updated on Jun 25, 2024)
The Firering Strategic Minerals Plc stock price gained 0.494% on the last trading day (Tuesday, 25th Jun 2024), rising from £3.04 to £3.05. During the last trading day the stock fluctuated 5.44% from a day low at £3.04 to a day high of £3.20. The price has fallen in 6 of the last 10 days and is down by -14.78% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 100 thousand more shares were traded than the day before. In total, 102 thousand shares were bought and sold for approximately £311.48 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 £2.94 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -3.79% during the next 3 months and, with a 90% probability hold a price between £2.83 and £3.44 at the end of this 3-month period.
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FRG.L Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 0.494%. Further rise is indicated until a new top pivot has been found. Firering Strategic Minerals Plc 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. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Firering Strategic Minerals Plc 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 £3.09 and £3.20. 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).
Support, Risk & Stop-loss for Firering Strategic Minerals Plc stock
Firering Strategic Minerals Plc finds support from accumulated volume at £3.04 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 £0.165 between high and low, or 5.44%. For the last week, the stock has had daily average volatility of 6.70%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FRG.L) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Firering Strategic Minerals Plc to open at £3.10, and during the day (based on 14 day Average True Range), to move between £2.85 and £3.25, which gives a possible trading interval of +/-£0.204 (+/-6.69%) up or down from last closing price. If Firering Strategic Minerals Plc takes out the full calculated possible swing range there will be an estimated 13.38% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £3.04 (0.49%) than the resistance at £3.30 (8.20%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Firering Strategic Minerals Plc stock A Buy?
Firering Strategic Minerals Plc 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: -2.497 Sell Candidate Unchanged
Predicted Opening Price for Firering Strategic Minerals Plc of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| £3.10 ( 1.48%) | £3.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FRG.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.26 | 6.89% |
| R2 | 3.20 | 4.82% |
| R1 | 3.16 | 3.54% |
| Price | 3.05 | |
| S1 | 3.03 | -0.591% |
| S2 | 2.99 | -1.87% |
| S3 | 2.93 | -3.93% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.54 | 15.90% |
| R2 | 3.35 | 9.84% |
| R1 | 3.30 | 8.20% |
| Price | 3.05 | |
| S1 | 3.04 | -0.492% |
| S2 | 3.00 | -1.64% |
| S3 | 0 | - |
FAQ
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