New Talisman Gold Mines Ltd Stock Forecast

New Talisman Gold Mines Ltd stock upgraded from Hold/Accumulate to Buy Candidate after Wednesday trading session.
(Updated on Jun 26, 2024)

NTL.AX Signals & Forecast

The New Talisman Gold Mines 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 A$0.0201 and A$0.0194. 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, June 25, 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.

Support, Risk & Stop-loss for New Talisman Gold Mines Ltd stock

New Talisman Gold Mines Ltd finds support from accumulated volume at A$0.0210 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 A$0 between high and low, or 0%. For the last week the stock has had daily average volatility of 3.05%.

Our recommended stop-loss: A$0.0212 (-3.66%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 24 days ago.)

Trading Expectations (NTL.AX) For The Upcoming Trading Day Of Thursday 27th

For the upcoming trading day on Thursday, 27th we expect New Talisman Gold Mines Ltd to open at A$0.0220, and during the day (based on 14 day Average True Range), to move between A$0.0214 and A$0.0226, which gives a possible trading interval of +/-A$0.0006 (+/-2.87%) up or down from last closing price. If New Talisman Gold Mines Ltd takes out the full calculated possible swing range there will be an estimated 5.74% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ A$0.0210, some A$0.0010 (4.55%) from the current price of A$0.0220, our system finds the risk reward attractive.

Is New Talisman Gold Mines Ltd 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 New Talisman Gold Mines Ltd stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 2.744 Buy Candidate Upgraded

Predicted Opening Price for New Talisman Gold Mines Ltd of Thursday, June 27, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.