Mawson Resources Limited Stock Forecast
Evaluation of Mawson Resources Limited stock downgraded after the last trading session.
(Updated on May 08, 2024)
The Mawson Resources Limited stock price fell by -2.46% on the last day (Wednesday, 8th May 2024) from $0.585 to $0.571. During the last trading day the stock fluctuated 6.00% from a day low at $0.557 to a day high of $0.591. The price has fallen in 6 of the last 10 days but is still up by 10.47% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -59 thousand shares and in total, 5 thousand shares were bought and sold for approximately $2.94 thousand.
The stock lies in the middle of a 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 130.39% during the next 3 months and, with a 90% probability hold a price between $1.16 and $1.36 at the end of this 3-month period.
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MWSNF Signals & Forecast
The Mawson Resources 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 $0.559 and $0.480. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, May 07, 2024, and so far it has fallen -2.46%. 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 along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Mawson Resources Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.499 and $0.487. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Mawson Resources Limited finds support just below today's level at $0.499. If this is broken, then the next support from accumulated volume will be at $0.487 and $0.462.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0334 between high and low, or 6.00%. For the last week the stock has had daily average volatility of 6.85%.
Our recommended stop-loss: $0.545 (-4.61%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (MWSNF) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Mawson Resources Limited to open at $0.573, and during the day (based on 14 day Average True Range), to move between $0.533 and $0.609, which gives a possible trading interval of +/-$0.0380 (+/-6.65%) up or down from last closing price. If Mawson Resources Limited takes out the full calculated possible swing range there will be an estimated 13.31% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.574 (0.45%) than the support at $0.499 (12.55%), 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 Mawson Resources Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Mawson Resources Limited stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 2.885 Buy Candidate Downgraded
Predicted Opening Price for Mawson Resources Limited of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| $0.573 ( 0.358%) | $0.571 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MWSNF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.606 | 6.21 % | |
| R2 | 0.594 | 3.97 % | ||
| R1 | 0.586 | 2.59 % | ||
| Current price: | 0.571 | |||
| Support | S1 | 0.560 | -1.88 % | |
| S2 | 0.552 | -3.26 % | ||
| S3 | 0.540 | -5.49 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0.585 | 2.52 % | ||
| R1 | 0.574 | 0.450 % | ||
| Current price | 0.571 | |||
| Support | S1 | 0.499 | -12.55% | |
| S2 | 0.487 | -14.72% | ||
| S3 | 0.462 | -19.11% |
FAQ
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