Neometals Ltd Stock Forecast
High volatility in Neometals Ltd stock price on Friday which ended trading at $0.120
(Updated on May 31, 2024)
The Neometals Ltd stock price gained 9.09% on the last trading day (Friday, 31st May 2024), rising from $0.110 to $0.120. During the last trading day the stock fluctuated 19.05% from a day low at $0.105 to a day high of $0.125. The price has risen in 4 of the last 10 days and is up by 20% over the past 2 weeks. Volume fell on the last day by -272 thousand shares and in total, 603 thousand shares were bought and sold for approximately $72.31 thousand. 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 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 -31.63% during the next 3 months and, with a 90% probability hold a price between $0.0514 and $0.0970 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
NMT.AX Signals & Forecast
The Neometals Ltd 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 $0.114 and $0.111. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 20.00%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Neometals Ltd stock
Neometals Ltd finds support from accumulated volume at $0.115 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 $0.0200 between high and low, or 19.05%. For the last week the stock has had daily average volatility of 11.05%.
Our recommended stop-loss: $0.116 (-3.16%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 54 days ago.)
Trading Expectations (NMT.AX) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Neometals Ltd to open at $0.117, and during the day (based on 14 day Average True Range), to move between $0.110 and $0.130, which gives a possible trading interval of +/-$0.0100 (+/-8.36%) up or down from last closing price. If Neometals Ltd takes out the full calculated possible swing range there will be an estimated 16.72% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.115 (4.17%) than the resistance at $0.125 (4.17%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Neometals Ltd stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 3.594 Buy Candidate Upgraded
Predicted Opening Price for Neometals Ltd of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| $0.117 ( 2.78%) | $0.120 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NMT.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.137 | 13.89 % | |
| R2 | 0.129 | 7.52 % | ||
| R1 | 0.124 | 3.59 % | ||
| Current price: | 0.120 | |||
| Support | S1 | 0.109 | -9.14 % | |
| S2 | 0.104 | -13.08 % | ||
| S3 | 0.0967 | -19.44 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.140 | 16.67 % | |
| R2 | 0.130 | 8.33 % | ||
| R1 | 0.125 | 4.17 % | ||
| Current price | 0.120 | |||
| Support | S1 | 0.115 | -4.17% | |
| S2 | 0.105 | -12.50% | ||
| S3 | 0.100 | -16.67% |
NMT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 20, 2020 | Mar 26, 2020 | Apr 03, 2020 | $0.0200 | 12.50% |
| 2 | May 01, 2019 | May 07, 2019 | May 15, 2019 | $0.0200 | 8.51% |
| 3 | May 25, 2018 | May 31, 2018 | Jun 08, 2018 | $0.0100 | 2.90% |
| 4 | Aug 11, 2016 | Aug 16, 2016 | Aug 26, 2016 | $0.0200 | 5.13% |
| 5 | Mar 14, 2016 | Mar 21, 2016 | Apr 07, 2016 | $0.0200 | 5.00% |
FAQ
Click here for our free guide on how to buy Neometals Ltd Stock.
