Oriole Resources Plc Stock Forecast

Big movements in Oriole Resources Plc stock price on Friday moving 13.43% between high and low
(Updated on Jun 28, 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 -9.11%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. 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 £0.347 and £0.342. A breakdown below any of these levels will issue sell signals.

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

Oriole Resources Plc finds support from accumulated volume at £0.350 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 £0.0450 between high and low, or 13.43%. For the last week, the stock has had daily average volatility of 10.66%.

Our recommended stop-loss: £0.334 (-5.20%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 38 days ago.)

Trading Expectations (ORR.L) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Oriole Resources Plc to open at £0.356, and during the day (based on 14 day Average True Range), to move between £0.302 and £0.403, which gives a possible trading interval of +/-£0.0506 (+/-14.37%) up or down from last closing price. If Oriole Resources Plc takes out the full calculated possible swing range there will be an estimated 28.74% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at £0.350 (0.62%) than the resistance at £0.355 (0.80%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Oriole Resources Plc stock A Buy?

Oriole Resources Plc 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Downgraded

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 Oriole Resources Plc of Monday, July 1, 2024

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