Resource Development Group Ltd Stock Forecast

Red day on Friday for Resource Development Group Ltd
(Updated on Jun 28, 2024)

RDG.AX Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, June 27, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Resource Development Group Ltd stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at A$0.0307 and A$0.0308. A break-up above any of these levels will issue buy signals. 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 Resource Development Group Ltd stock

On the downside, the stock finds support just below today's level from accumulated volume at A$0.0280 and A$0.0270. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Resource Development Group Ltd finds support just below today's level at A$0.0280. If this is broken, then the next support from accumulated volume will be at A$0.0270 and A$0.0260.

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 0.667%

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (RDG.AX) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Resource Development Group Ltd to open at A$0.0300, and during the day (based on 14 day Average True Range), to move between A$0.0290 and A$0.0310, which gives a possible trading interval of +/-A$0.0010 (+/-3.32%) up or down from last closing price. If Resource Development Group Ltd takes out the full calculated possible swing range there will be an estimated 6.65% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at A$0.0310 (3.33%) than the support at A$0.0280 (6.67%), 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 Resource Development Group Ltd stock A Buy?

Resource Development Group Ltd holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

Current score: -2.183 Sell Candidate Unchanged

Predicted Opening Price for Resource Development Group Ltd of Monday, July 1, 2024

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