Hamelin Gold Limited Stock Forecast

High volatility in Hamelin Gold Limited stock price on Friday which ended trading at $0.0800
(Updated on Jun 28, 2024)

HMG.AX Signals & Forecast

The Hamelin Gold Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.0764 and $0.0782. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, June 26, 2024, and so far it has risen 14.29%. Further rise is indicated until a new top pivot has been found. Hamelin Gold Limited 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Hamelin Gold Limited stock

Hamelin Gold Limited finds support from accumulated volume at $0.0790 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 $0.0080 between high and low, or 11.11%. For the last week, the stock has had daily average volatility of 3.92%.

Our recommended stop-loss: $0.0762 (-4.69%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 15 days ago.)

Trading Expectations (HMG.AX) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Hamelin Gold Limited to open at $0.0773, and during the day (based on 14 day Average True Range), to move between $0.0767 and $0.0833, which gives a possible trading interval of +/-$0.0033 (+/-4.14%) up or down from last closing price. If Hamelin Gold Limited takes out the full calculated possible swing range there will be an estimated 8.28% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0790 (1.25%) than the resistance at $0.0820 (2.50%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Hamelin Gold Limited 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 Hamelin Gold Limited stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Current score: 3.130 Buy Candidate Upgraded

Predicted Opening Price for Hamelin Gold Limited of Monday, July 1, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.