Bluejay Mining Plc Stock Forecast
High volatility in Bluejay Mining Plc stock price on Thursday which ended trading at £0.270
(Updated on Apr 25, 2024)
The Bluejay Mining Plc stock price gained 1.89% on the last trading day (Thursday, 25th Apr 2024), rising from £0.265 to £0.270. During the last trading day the stock fluctuated 10.67% from a day low at £0.253 to a day high of £0.280. The price has risen in 5 of the last 10 days but is still down by -6.9% for this period. Volume fell on the last day by -11 million shares and in total, 2 million shares were bought and sold for approximately £543.69 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at £0.263 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -28.97% during the next 3 months and, with a 90% probability hold a price between £0.187 and £0.228 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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JAY.L Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 24, 2024, and so far it has risen 1.89%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Bluejay Mining Plc 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 £0.293 and £0.326. A break-up above any of these levels will issue buy signals. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Bluejay Mining Plc stock
Bluejay Mining Plc finds support from accumulated volume at £0.265 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 periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved £0.0270 between high and low, or 10.67%. For the last week the stock has had daily average volatility of 9.90%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (JAY.L) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Bluejay Mining Plc to open at £0.268, and during the day (based on 14 day Average True Range), to move between £0.244 and £0.296, which gives a possible trading interval of +/-£0.0262 (+/-9.69%) up or down from last closing price. If Bluejay Mining Plc takes out the full calculated possible swing range there will be an estimated 19.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £0.265 (1.85%) than the resistance at £0.290 (7.41%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Bluejay Mining Plc stock A Buy?
Bluejay Mining Plc 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.
Current score: -5.050 Strong Sell Candidate Unchanged
Predicted Opening Price for Bluejay Mining Plc of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| £0.268 ( 0.86%) | £0.270 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JAY.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.295 | 9.14 % | |
| R2 | 0.284 | 5.32 % | ||
| R1 | 0.278 | 2.96 % | ||
| Current price: | 0.270 | |||
| Support | S1 | 0.257 | -4.68 % | |
| S2 | 0.251 | -7.04 % | ||
| S3 | 0.241 | -10.86 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.310 | 14.81 % | |
| R2 | 0.300 | 11.11 % | ||
| R1 | 0.290 | 7.41 % | ||
| Current price | 0.270 | |||
| Support | S1 | 0.265 | -1.85% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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