Mila Resources Plc Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Mila Resources Plc stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Jun 28, 2024)
No changes to the price of Mila Resources Plc stock on the last trading day (Friday, 28th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at £0.590 to a day high of £0.590. The price has fallen in 5 of the last 10 days and is down by -5.6% for this period.
The stock lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at £0.563 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 8.76% during the next 3 months and, with a 90% probability hold a price between £0.613 and £0.84 at the end of this 3-month period.
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MILA.L Signals & Forecast
There are few to no technical positive signals at the moment. The Mila Resources 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 £0.596 and £0.648. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, June 27, 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.
A sell signal from a double top formation was found on Friday, May 10, 2024 with a target of £0.667. Despite whether the objective of the signal formation has been reached the stock may continue to fall.
Support, Risk & Stop-loss for Mila Resources Plc stock
Mila Resources Plc finds support from accumulated volume at £0.575 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 4.27%
Our recommended stop-loss: £0.566 (-4.14%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (MILA.L) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Mila Resources Plc to open at £0.590, and during the day (based on 14 day Average True Range), to move between £0.538 and £0.642, which gives a possible trading interval of +/-£0.0524 (+/-8.88%) up or down from last closing price. If Mila Resources Plc 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 support from accumulated volume at £0.575 (2.54%) than the resistance at £0.625 (5.93%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Mila Resources Plc stock A Buy?
Mila Resources Plc holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Mila Resources Plc of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| £0.590 ( 0%) | £0.590 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MILA.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.590 | - |
| R2 | 0.590 | - |
| R1 | 0.590 | - |
| Price | 0.590 | |
| S1 | 0.590 | - |
| S2 | 0.590 | - |
| S3 | 0.590 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.675 | 14.41% |
| R2 | 0.650 | 10.17% |
| R1 | 0.625 | 5.93% |
| Price | 0.590 | |
| S1 | 0.575 | -2.54% |
| S2 | 0.574 | -2.71% |
| S3 | 0.525 | -11.02% |
FAQ
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