Jervois Mining Ltd Stock Forecast
Big movements in Jervois Mining Ltd stock price on Thursday moving 13.80% between high and low
(Updated on May 16, 2024)
The Jervois Mining Ltd stock price fell by -1.89% on the last day (Thursday, 16th May 2024) from $0.0106 to $0.0104. During the last trading day the stock fluctuated 13.80% from a day low at $0.0100 to a day high of $0.0114. The price has been going up and down for this period, and there has been a -1.52% loss for the last 2 weeks. 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 -133 thousand shares and in total, 16 thousand shares were bought and sold for approximately $170.06 .
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.0097 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -38.08% during the next 3 months and, with a 90% probability hold a price between $0.0060 and $0.0089 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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JRVMF Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, May 13, 2024, and so far it has risen 2.97%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Jervois Mining Ltd 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 $0.0108 and $0.0144. A break-up above any of these levels will issue buy signals. 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. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Jervois Mining Ltd stock
Jervois Mining Ltd finds support from accumulated volume at $0.0101 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 very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0014 between high and low, or 13.80%. For the last week the stock has had daily average volatility of 11.54%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (JRVMF) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect Jervois Mining Ltd to open at $0.0106, and during the day (based on 14 day Average True Range), to move between $0.0088 and $0.0120, which gives a possible trading interval of +/-$0.0016 (+/-15.33%) up or down from last closing price. If Jervois Mining Ltd takes out the full calculated possible swing range there will be an estimated 30.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0107 (2.50%) than the support at $0.0101 (2.88%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Jervois Mining Ltd stock A Buy?
Jervois Mining Ltd holds several negative signals and is within a very 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: -2.901 Sell Candidate Unchanged
Predicted Opening Price for Jervois Mining Ltd of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| $0.0106 ( 1.86%) | $0.0104 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JRVMF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0120 | 15.13 % | |
| R2 | 0.0114 | 10.06 % | ||
| R1 | 0.0111 | 6.93 % | ||
| Current price: | 0.0104 | |||
| Support | S1 | 0.0101 | -3.21 % | |
| S2 | 0.0097 | -6.34 % | ||
| S3 | 0.0092 | -11.41 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0129 | 24.04 % | |
| R2 | 0.0116 | 11.54 % | ||
| R1 | 0.0107 | 2.50 % | ||
| Current price | 0.0104 | |||
| Support | S1 | 0.0101 | -2.88% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
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