Mila Resources Plc Stock Forecast

Mila Resources Plc stock price ended at £0.614 on Wednesday, after losing 0%.
(Updated on Jun 19, 2024)

MILA.L Signals & Forecast

There are mixed signals in the stock today. The Mila Resources Plc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at £0.651. On a fall, the stock will find some support from the short-term average at £0.604. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Tuesday, June 18, 2024, and so far it has fallen 0%. 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.

Buy

Special Signal Notification

Double Bottom Formation

A buy signal from a double bottom formation was found on Tuesday, April 16, 2024 and based on theory for this formation the price should go up by 5.55% to £0.648 within 13 trading days since signal was issued (Tuesday, May 07, 2024).

Support, Risk & Stop-loss for Mila Resources Plc stock

Mila Resources Plc finds support from accumulated volume at £0.600 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved £0 between high and low, or 0%. For the last week the stock has had daily average volatility of 6.24%

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

Trading Expectations (MILA.L) For The Upcoming Trading Day Of Thursday 20th

For the upcoming trading day on Thursday, 20th we expect Mila Resources Plc to open at £0.614, and during the day (based on 14 day Average True Range), to move between £0.554 and £0.674, which gives a possible trading interval of +/-£0.0595 (+/-9.69%) up or down from last closing price. If Mila Resources Plc takes out the full calculated possible swing range there will be an estimated 19.39% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at £0.625 (1.79%) than the support at £0.600 (2.28%), 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 Mila Resources Plc stock A Buy?

Mila Resources Plc 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: -4.061 Sell Candidate Unchanged

Predicted Opening Price for Mila Resources Plc of Thursday, June 20, 2024

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