Matsa Resources Limited Stock Forecast

Matsa Resources Limited stock price down 0% on Friday
(Updated on Jun 21, 2024)

MAT.AX Signals & Forecast

There are mixed signals in the stock today. The Matsa Resources 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 $0.0276 and $0.0291. A break-up above any of these levels will issue buy signals. 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. A buy signal was issued from a pivot bottom point on Tuesday, June 11, 2024, and so far it has risen 8.00%. 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).

Support, Risk & Stop-loss for Matsa Resources Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.0250. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the stock price.

This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0010 between high and low, or 3.70%. For the last week the stock has had daily average volatility of 4.39%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (MAT.AX) For The Upcoming Trading Day Of Monday 24th

For the upcoming trading day on Monday, 24th we expect Matsa Resources Limited to open at $0.0273, and during the day (based on 14 day Average True Range), to move between $0.0254 and $0.0286, which gives a possible trading interval of +/-$0.0016 (+/-5.85%) up or down from last closing price. If Matsa Resources Limited takes out the full calculated possible swing range there will be an estimated 11.69% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0280 (3.70%) than the support at $0.0250 (7.41%), 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 Matsa Resources Limited stock A Buy?

Matsa Resources Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -2.710 Sell Candidate Unchanged

Predicted Opening Price for Matsa Resources Limited of Monday, June 24, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.