New Talisman Gold Mines Ltd Stock Forecast
New Talisman Gold Mines Ltd stock price ended at A$0.0230 on Friday, after losing 0%.
(Updated on Jun 28, 2024)
No changes to the price of New Talisman Gold Mines Ltd stock on the last trading day (Friday, 28th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at A$0.0230 to a day high of A$0.0230. The price has been going up and down for this period, and there has been a 15% gain for the last 2 weeks.
The stock lies in the upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at A$0.0231 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 15.93% during the next 3 months and, with a 90% probability hold a price between A$0.0197 and A$0.0267 at the end of this 3-month period.
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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$0.0213 and A$0.0196. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Thursday, June 27, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. 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$0.0220 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock 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 2.00%
The New Talisman Gold Mines Ltd stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: A$0.0222 (-3.34%) (This stock has low daily movements and this gives low risk. The RSI14 is 83 and this increases the risk substantially. There is a sell signal from a pivot top found 26 days ago.)
Trading Expectations (NTL.AX) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect New Talisman Gold Mines Ltd to open at A$0.0230, and during the day (based on 14 day Average True Range), to move between A$0.0224 and A$0.0236, which gives a possible trading interval of +/-A$0.0006 (+/-2.72%) 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 5.43% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ A$0.0220, some A$0.0010 (4.35%) from the current price of A$0.0230, our system finds the risk reward attractive.
Is New Talisman Gold Mines Ltd stock A Buy?
New Talisman Gold Mines Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for New Talisman Gold Mines Ltd of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| A$0.0230 ( 0.00000000%) | A$0.0230 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NTL.AX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0230 | 0.00000000% |
| R2 | 0.0230 | 0.00000000% |
| R1 | 0.0230 | 0.00000000% |
| Price | 0.0230 | |
| S1 | 0.0230 | 0.00000000% |
| S2 | 0.0230 | 0.00000000% |
| S3 | 0.0230 | 0.00000000% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 0.0230 | |
| S1 | 0.0220 | -4.35% |
| S2 | 0.0210 | -8.70% |
| S3 | 0.0200 | -13.04% |
FAQ
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