Immuron Limited Stock Forecast
Red day on Thursday for Immuron Limited
(Updated on Apr 25, 2024)
The Immuron Limited stock price fell by -2.41% on the last day (Thursday, 25th Apr 2024) from $2.49 to $2.43. During the last trading day the stock fluctuated 0.83% from a day low at $2.41 to a day high of $2.43. The price has fallen in 6 of the last 10 days and is down by -14.78% for this period. Volume has increased on the last day by 2 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, 3 thousand shares were bought and sold for approximately $8.30 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 $2.29 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 27.98% during the next 3 months and, with a 90% probability hold a price between $2.93 and $6.62 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
IMRN Signals & Forecast
There are few to no technical positive signals at the moment. The Immuron Limited 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 $2.45 and $2.75. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 07, 2024, and so far it has fallen -46.59%. 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). Immuron Limited 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". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Immuron Limited stock
Immuron Limited finds support from accumulated volume at $2.40 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0200 between high and low, or 0.83%. For the last week, the stock has had daily average volatility of 5.47%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (IMRN) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Immuron Limited to open at $2.42, and during the day (based on 14 day Average True Range), to move between $2.23 and $2.63, which gives a possible trading interval of +/-$0.199 (+/-8.18%) up or down from last closing price. If Immuron Limited takes out the full calculated possible swing range there will be an estimated 16.35% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.40 (1.23%) than the resistance at $2.82 (16.05%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Immuron Limited stock A Buy?
The Immuron Limited stock holds several negative signals and despite the positive trend, we believe Immuron Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.447 Sell Candidate Unchanged
Predicted Opening Price for Immuron Limited of Friday, April 26, 2024
Fair opening price April 26, 2024 | Current price |
---|---|
$2.42 ( 0.274%) | $2.43 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IMRN
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.44 | 0.549 % | |
R2 | 2.44 | 0.234 % | ||
R1 | 2.43 | 0.0401 % | ||
Current price: | 2.43 | |||
Support | S1 | 2.42 | -0.589 % | |
S2 | 2.41 | -0.783 % | ||
S3 | 2.40 | -1.10 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.99 | 23.05 % | |
R2 | 2.87 | 18.11 % | ||
R1 | 2.82 | 16.05 % | ||
Current price | 2.43 | |||
Support | S1 | 2.40 | -1.23% | |
S2 | 2.31 | -4.94% | ||
S3 | 1.90 | -21.81% |
FAQ
Click here for our free guide on how to buy Immuron Limited Stock.