Kingsrose Mining Limited Stock Forecast
Kingsrose Mining Limited stock upgraded to Sell Candidate.
(Updated on Jun 18, 2024)
No changes to the price of Kingsrose Mining Limited stock on the last trading day (Tuesday, 18th Jun 2024). During the last trading day the stock fluctuated 4.76% from a day low at $0.0420 to a day high of $0.0440. The price has fallen in 4 of the last 10 days and is down by -10.2% for this period.
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 $0.0430 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 41.71% during the next 3 months and, with a 90% probability hold a price between $0.0610 and $0.0885 at the end of this 3-month period.
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KRM.AX Signals & Forecast
There are few to no technical positive signals at the moment. The Kingsrose Mining Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $0.0457 and $0.0443. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 22, 2024, and so far it has fallen -22.81%. 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 on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Kingsrose Mining Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0410 and $0.0360. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Kingsrose Mining Limited finds support just below today's level at $0.0410. If this is broken, then the next support from accumulated volume will be at $0.0360 and $0.0350.
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 $0.0020 between high and low, or 4.76%. For the last week the stock has had daily average volatility of 7.07%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (KRM.AX) For The Upcoming Trading Day Of Wednesday 19th
For the upcoming trading day on Wednesday, 19th we expect Kingsrose Mining Limited to open at $0.0433, and during the day (based on 14 day Average True Range), to move between $0.0401 and $0.0479, which gives a possible trading interval of +/-$0.0039 (+/-8.89%) up or down from last closing price. If Kingsrose Mining Limited takes out the full calculated possible swing range there will be an estimated 17.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0450 (2.27%) than the support at $0.0410 (6.82%), 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 Kingsrose Mining Limited stock A Buy?
The Kingsrose Mining Limited stock holds several negative signals and despite the positive trend, we believe Kingsrose Mining Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -4.888 Sell Candidate Upgraded
Predicted Opening Price for Kingsrose Mining Limited of Wednesday, June 19, 2024
| Fair opening price June 19, 2024 | Current price |
|---|---|
| $0.0433 ( 1.52%) | $0.0440 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KRM.AX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0453 | 3.03% |
| R2 | 0.0446 | 1.29% |
| R1 | 0.0441 | 0.221% |
| Price | 0.0440 | |
| S1 | 0.0426 | -3.25% |
| S2 | 0.0421 | -4.32% |
| S3 | 0.0413 | -6.06% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0520 | 18.18% |
| R2 | 0.0480 | 9.09% |
| R1 | 0.0450 | 2.27% |
| Price | 0.0440 | |
| S1 | 0.0410 | -6.82% |
| S2 | 0.0360 | -18.18% |
| S3 | 0.0350 | -20.45% |
KRM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 23, 2012 | Jun 13, 2012 | Jul 04, 2012 | $0.0400 | 3.51% |
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