Oriole Resources Plc Stock Forecast

High volatility in Oriole Resources Plc stock price on Tuesday which ended trading at £0.360
(Updated on Jun 25, 2024)

ORR.L Signals & Forecast

There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Monday, June 10, 2024, and so far it has fallen -7.10%. 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). The Oriole Resources Plc 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 £0.346 and £0.337. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

Support, Risk & Stop-loss for Oriole Resources Plc stock

Oriole Resources Plc finds support from accumulated volume at £0.355 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved £0.0600 between high and low, or 18.75%. For the last week, the stock has had daily average volatility of 15.18%.

Our recommended stop-loss: £0.341 (-5.38%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 35 days ago.)

Trading Expectations (ORR.L) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect Oriole Resources Plc to open at £0.353, and during the day (based on 14 day Average True Range), to move between £0.304 and £0.416, which gives a possible trading interval of +/-£0.0561 (+/-15.58%) up or down from last closing price. If Oriole Resources Plc takes out the full calculated possible swing range there will be an estimated 31.16% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at £0.365 (1.39%) than the support at £0.355 (1.39%), 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 Oriole Resources Plc stock A Buy?

Oriole Resources Plc holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Buy candidate.

Current score: 5.287 Strong Buy Candidate Upgraded

Predicted Opening Price for Oriole Resources Plc of Wednesday, June 26, 2024

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