Imc Exploration Group Public Ltd Co Stock Forecast
Imc Exploration Group Public Ltd Co stock price fell more than -25.00% Monday closing at £0.90
(Updated on Jul 01, 2024)
The Imc Exploration Group Public Ltd Co stock price fell by -25.00% on the last day (Monday, 1st Jul 2024) from £1.20 to £0.90. During the last trading day the stock fluctuated 0% from a day low at £0.90 to a day high of £0.90. The price has fallen in 4 of the last 10 days and is down by -21.74% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -120 thousand shares and in total, 150 thousand shares were bought and sold for approximately £135.00 thousand.
The stock has broken the wide and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point (£0.97) are considered to be a "second chance" to get out. According to the fan-theory £0.744 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
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IMC.L Signals & Forecast
There are few to no technical positive signals at the moment. The Imc Exploration Group Public Ltd Co 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 £1.03 and £1.29. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, June 28, 2024, and so far it has fallen -25.00%. 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). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Imc Exploration Group Public Ltd Co stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". 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 (IMC.L) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Imc Exploration Group Public Limited Company to open at £0.90, and during the day (based on 14 day Average True Range), to move between £0.81 and £0.99, which gives a possible trading interval of +/-£0.0932 (+/-10.36%) up or down from last closing price. If Imc Exploration Group Public Limited Company takes out the full calculated possible swing range there will be an estimated 20.72% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ £1.01, some £0.110 (12.22%) from the current price of £0.90, our system finds the risk reward not very attractive.
Is Imc Exploration Group Public Limited Company stock A Buy?
Imc Exploration Group Public Ltd Co 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Sell candidate.
Current score: -8.531 Strong Sell Candidate Downgraded
Predicted Opening Price for Imc Exploration Group Public Limited Company of Tuesday, July 2, 2024
Fair opening price July 2, 2024 | Current price |
---|---|
£0.90 ( 0%) | £0.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IMC.L
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.90 | - |
R2 | 0.90 | - |
R1 | 0.90 | - |
Price | 0.90 | |
S1 | 0.90 | - |
S2 | 0.90 | - |
S3 | 0.90 | - |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 1.10 | 22.22% |
R2 | 1.01 | 12.33% |
R1 | 1.01 | 12.22% |
Price | 0.90 | |
S1 | 0 | - |
S2 | 0 | - |
S3 | 0 | - |
FAQ
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