Meridian Mining Uk Societas Stock Forecast
Green day on Friday for Meridian Mining Uk Societas stock after gaining 2.38%
(Updated on Jun 28, 2024)
The Meridian Mining Uk Societas stock price gained 2.38% on the last trading day (Friday, 28th Jun 2024), rising from $0.420 to $0.430. During the last trading day the stock fluctuated 3.61% from a day low at $0.415 to a day high of $0.430. The price has fallen in 4 of the last 10 days and is down by -3.37% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 15 thousand more shares were traded than the day before. In total, 83 thousand shares were bought and sold for approximately $35.69 thousand.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -24.96% during the next 3 months and, with a 90% probability hold a price between $0.302 and $0.344 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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MNO.TO Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 25, 2024, and so far it has risen 2.38%. Further rise is indicated until a new top pivot has been found. Meridian Mining Uk Societas has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Meridian Mining Uk Societas 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 $0.434 and $0.491. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Meridian Mining Uk Societas stock
Meridian Mining Uk Societas finds support from accumulated volume at $0.425 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0150 between high and low, or 3.61%. For the last week, the stock has had daily average volatility of 4.32%.
Meridian Mining Uk Societas is oversold on RSI14 (19). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MNO.TO) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Meridian Mining Uk Societas to open at $0.425, and during the day (based on 14 day Average True Range), to move between $0.401 and $0.459, which gives a possible trading interval of +/-$0.0287 (+/-6.68%) up or down from last closing price. If Meridian Mining Uk Societas takes out the full calculated possible swing range there will be an estimated 13.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.425 (1.16%) than the resistance at $0.450 (4.65%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Meridian Mining Uk Societas stock A Buy?
Meridian Mining Uk Societas holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.876 Sell Candidate Unchanged
Predicted Opening Price for Meridian Mining Uk Societas of Tuesday, July 2, 2024
| Fair opening price July 2, 2024 | Current price |
|---|---|
| $0.425 ( 1.16%) | $0.430 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MNO.TO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.440 | 2.33% |
| R2 | 0.434 | 0.99% |
| R1 | 0.431 | 0.170% |
| Price | 0.430 | |
| S1 | 0.419 | -2.50% |
| S2 | 0.416 | -3.32% |
| S3 | 0.410 | -4.65% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.520 | 20.93% |
| R2 | 0.510 | 18.60% |
| R1 | 0.450 | 4.65% |
| Price | 0.430 | |
| S1 | 0.425 | -1.16% |
| S2 | 0.420 | -2.33% |
| S3 | 0 | - |
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