Ora Banda Mining Limited Stock Forecast
Ora Banda Mining Limited stock price down 0% on Friday
(Updated on Jun 28, 2024)
No changes to the price of Ora Banda Mining Limited stock on the last trading day (Friday, 28th Jun 2024). During the last trading day the stock fluctuated 5.23% from a day low at $0.325 to a day high of $0.342. The price has fallen in 5 of the last 10 days and is down by -11.84% for this period.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.329 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 14.05% during the next 3 months and, with a 90% probability hold a price between $0.375 and $0.441 at the end of this 3-month period.
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OBM.AX Signals & Forecast
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. The Ora Banda Mining Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $0.354 and $0.340. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, June 18, 2024, and so far it has fallen -11.84%. 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".
Support, Risk & Stop-loss for Ora Banda Mining Limited stock
Ora Banda Mining Limited finds support from accumulated volume at $0.320 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 $0.0170 between high and low, or 5.23%. For the last week the stock has had daily average volatility of 6.03%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (OBM.AX) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Ora Banda Mining Limited to open at $0.334, and during the day (based on 14 day Average True Range), to move between $0.316 and $0.354, which gives a possible trading interval of +/-$0.0190 (+/-5.67%) up or down from last closing price. If Ora Banda Mining Limited takes out the full calculated possible swing range there will be an estimated 11.34% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.340 (1.49%) than the support at $0.320 (4.48%), 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 Ora Banda Mining Limited stock A Buy?
The Ora Banda Mining Limited stock holds several negative signals and despite the positive trend, we believe Ora Banda Mining Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.439 Sell Candidate Unchanged
Predicted Opening Price for Ora Banda Mining Limited of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $0.334 ( 0.299%) | $0.335 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OBM.AX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.351 | 4.78% |
| R2 | 0.345 | 2.84% |
| R1 | 0.340 | 1.64% |
| Price | 0.335 | |
| S1 | 0.328 | -2.24% |
| S2 | 0.323 | -3.43% |
| S3 | 0.317 | -5.37% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.370 | 10.45% |
| R2 | 0.345 | 2.99% |
| R1 | 0.340 | 1.49% |
| Price | 0.335 | |
| S1 | 0.320 | -4.48% |
| S2 | 0.310 | -7.46% |
| S3 | 0.300 | -10.45% |
FAQ
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