Inca Minerals Limited Stock Forecast

Big movements in Inca Minerals Limited stock price on Monday moving 16.67% between high and low
(Updated on May 20, 2024)

ICG.AX Signals & Forecast

The Inca Minerals Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.0067 and $0.0056. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. A sell signal was issued from a pivot top point on Friday, May 17, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found.

Sell

Special Signal Notification

Double Top Formation

Support, Risk & Stop-loss for Inca Minerals Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.0060. 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.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0010 between high and low, or 16.67%. For the last week, the stock has had daily average volatility of 10.00%.

Our recommended stop-loss: $0.0067 (-4.00%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 4 days ago.)

Trading Expectations (ICG.AX) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect Inca Minerals Limited to open at $0.0067, and during the day (based on 14 day Average True Range), to move between $0.0064 and $0.0076, which gives a possible trading interval of +/-$0.0006 (+/-7.97%) up or down from last closing price. If Inca Minerals Limited takes out the full calculated possible swing range there will be an estimated 15.94% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $0.0060, some $0.0010 (14.29%) from the current price of $0.0070, our system finds the risk reward attractive.

Is Inca Minerals Limited stock A Buy?

Several short-term signals are positive and the stock has broken the horizontal trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Inca Minerals Limited stock to perform well in the short-term period.

Current score: 2.730 Buy Candidate Unchanged

Predicted Opening Price for Inca Minerals Limited of Tuesday, May 21, 2024

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