Fosterville South Exploration Ltd Stock Forecast
Fosterville South Exploration Ltd stock downgraded to Strong Sell Candidate
(Updated on May 02, 2024)
The Fosterville South Exploration Ltd stock price fell by -1.71% on the last day (Thursday, 2nd May 2024) from $0.759 to $0.746. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 9.09% from a day low at $0.745 to a day high of $0.81. The price has fallen in 7 of the last 10 days and is down by -4.28% for this period. Volume has increased on the last day by 238 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, 354 thousand shares were bought and sold for approximately $264.37 thousand.
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 $0.732 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 21.41% during the next 3 months and, with a 90% probability hold a price between $0.89 and $1.24 at the end of this 3-month period.
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FSXLF Signals & Forecast
There are few to no technical positive signals at the moment. The Fosterville South Exploration Ltd stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $0.80 and $0.793. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 15, 2024, and so far it has fallen -23.87%. 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). Fosterville South Exploration 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 Fosterville South Exploration Ltd stock
Fosterville South Exploration Ltd finds support from accumulated volume at $0.739 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 $0.0677 between high and low, or 9.09%. For the last week, the stock has had daily average volatility of 12.23%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FSXLF) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Fosterville South Exploration Ltd to open at $0.768, and during the day (based on 14 day Average True Range), to move between $0.658 and $0.83, which gives a possible trading interval of +/-$0.0880 (+/-11.80%) up or down from last closing price. If Fosterville South Exploration Ltd takes out the full calculated possible swing range there will be an estimated 23.60% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.739 (1.01%) than the resistance at $0.80 (7.22%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Fosterville South Exploration Ltd stock A Buy?
The Fosterville South Exploration Ltd stock holds several negative signals and despite the positive trend, we believe Fosterville South Exploration Ltd will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.275 Strong Sell Candidate Downgraded
Predicted Opening Price for Fosterville South Exploration Ltd of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $0.768 ( 2.89%) | $0.746 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FSXLF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.84 | 11.96 % | |
| R2 | 0.81 | 8.50 % | ||
| R1 | 0.794 | 6.36 % | ||
| Current price: | 0.746 | |||
| Support | S1 | 0.742 | -0.576 % | |
| S2 | 0.726 | -2.72 % | ||
| S3 | 0.700 | -6.18 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.92 | 23.88 % | |
| R2 | 0.84 | 12.59 % | ||
| R1 | 0.80 | 7.22 % | ||
| Current price | 0.746 | |||
| Support | S1 | 0.739 | -1.01% | |
| S2 | 0.698 | -6.47% | ||
| S3 | 0.694 | -6.98% |
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