Metals X Limited 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
Metals X Limited stock upgraded from Buy Candidate to Strong Buy Candidate after Friday trading session.
(Updated on May 17, 2024)
The Metals X Limited stock price gained 2.22% on the last trading day (Friday, 17th May 2024), rising from $0.450 to $0.460. During the last trading day the stock fluctuated 3.33% from a day low at $0.450 to a day high of $0.465. The price has risen in 7 of the last 10 days and is up by 6.98% over the past 2 weeks. Volume fell on the last day by -1 million shares and in total, 3 million shares were bought and sold for approximately $1.25 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 48.30% during the next 3 months and, with a 90% probability hold a price between $0.641 and $0.83 at the end of this 3-month period.
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MLX.AX Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Monday, April 22, 2024, and so far it has fallen -8.91%. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. The Metals X Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.441 and $0.435. A breakdown below any of these levels will issue sell signals. The stock had a Golden Star Signal on Wednesday, September 13, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Wednesday, September 13, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Metals X Limited stock
Metals X Limited finds support from accumulated volume at $0.450 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.0150 between high and low, or 3.33%. For the last week the stock has had daily average volatility of 3.97%.
Our recommended stop-loss: $0.443 (-3.78%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 18 days ago.)
Trading Expectations (MLX.AX) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Metals X Limited to open at $0.458, and during the day (based on 14 day Average True Range), to move between $0.439 and $0.481, which gives a possible trading interval of +/-$0.0211 (+/-4.59%) up or down from last closing price. If Metals X Limited takes out the full calculated possible swing range there will be an estimated 9.18% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.470 (2.17%) than the support at $0.450 (2.17%), 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 Metals X Limited stock A Buy?
Metals X Limited holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.354 Strong Buy Candidate Upgraded
Predicted Opening Price for Metals X Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.458 ( 0.362%) | $0.460 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MLX.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.473 | 2.90 % | |
| R2 | 0.468 | 1.65 % | ||
| R1 | 0.464 | 0.88 % | ||
| Current price: | 0.460 | |||
| Support | S1 | 0.453 | -1.61 % | |
| S2 | 0.449 | -2.38 % | ||
| S3 | 0.443 | -3.62 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.505 | 9.78 % | |
| R2 | 0.475 | 3.26 % | ||
| R1 | 0.470 | 2.17 % | ||
| Current price | 0.460 | |||
| Support | S1 | 0.450 | -2.17% | |
| S2 | 0.440 | -4.35% | ||
| S3 | 0.370 | -19.57% |
MLX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 31, 2017 | Sep 06, 2017 | Sep 19, 2017 | $0.0097 | 1.31% |
| 2 | Aug 25, 2015 | Aug 31, 2015 | Sep 25, 2015 | $0.0286 | 4.09% |
| 3 | Oct 10, 2014 | Dec 12, 2014 | Jan 07, 2015 | $0.0263 | 5.90% |
FAQ
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