Freeport Resources Inc. Stock Forecast
Red day on Friday for Freeport Resources Inc. stock after losing 0%
(Updated on Jun 14, 2024)
No changes to the price of Freeport Resources Inc. stock on the last trading day (Friday, 14th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at $0.0550 to a day high of $0.0550. The price has been going up and down for this period, and there has been a -21.43% loss for the last 2 weeks.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.0540 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 11.54% during the next 3 months and, with a 90% probability hold a price between $0.0603 and $0.0915 at the end of this 3-month period.
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FRI.V Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 07, 2024, and so far it has fallen 0%. 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 Freeport Resources 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 $0.0557 and $0.0624. 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). 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 Freeport Resources Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0500. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the stock price.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock 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 0%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FRI.V) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect Freeport Resources Inc. to open at $0.0550, and during the day (based on 14 day Average True Range), to move between $0.0513 and $0.0587, which gives a possible trading interval of +/-$0.0037 (+/-6.80%) up or down from last closing price. If Freeport Resources Inc. takes out the full calculated possible swing range there will be an estimated 13.60% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0600 (9.09%) than the support at $0.0500 (9.09%), 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 Freeport Resources Inc. stock A Buy?
The Freeport Resources Inc. stock holds several negative signals and despite the positive trend, we believe Freeport Resources Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.827 Sell Candidate Unchanged
Predicted Opening Price for Freeport Resources Inc. of Monday, June 17, 2024
Fair opening price June 17, 2024 | Current price |
---|---|
$0.0550 ( 0%) | $0.0550 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FRI.V
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.0550 | - |
R2 | 0.0550 | - |
R1 | 0.0550 | - |
Price | 0.0550 | |
S1 | 0.0550 | - |
S2 | 0.0550 | - |
S3 | 0.0550 | - |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0 | - |
R2 | 0.0650 | 18.18% |
R1 | 0.0600 | 9.09% |
Price | 0.0550 | |
S1 | 0.0500 | -9.09% |
S2 | 0 | - |
S3 | 0 | - |
FAQ
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