RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of RED.AX
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Red 5 Limited stock upgraded from Buy Candidate to Strong Buy Candidate after Thursday trading session.
(Updated on Mar 28, 2024)

Buy or Hold candidate since Feb 26, 2024 Gain 20.63% PDF

The Red 5 Limited stock price gained 4.11% on the last trading day (Thursday, 28th Mar 2024), rising from $0.365 to $0.380. During the last trading day the stock fluctuated 4.05% from a day low at $0.370 to a day high of $0.385. The price has risen in 4 of the last 10 days and is up by 4.11% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 10 million more shares were traded than the day before. In total, 16 million shares were bought and sold for approximately $6.22 million.

The stock lies in the upper part of a 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 $0.386 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 24.18% during the next 3 months and, with a 90% probability hold a price between $0.396 and $0.479 at the end of this 3-month period.

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RED.AX Signals & Forecast

The Red 5 Limited 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 $0.361 and $0.335. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, February 19, 2024, and so far it has risen 33.33%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Red 5 Limited stock

Red 5 Limited finds support from accumulated volume at $0.365 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 $0.0150 between high and low, or 4.05%. For the last week, the stock has had daily average volatility of 3.22%.

Our recommended stop-loss: $0.365 (-3.82%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 28 days ago.)

Trading Expectations (RED.AX) For The Upcoming Trading Day Of Tuesday 2nd

For the upcoming trading day on Tuesday, 2nd we expect Red 5 Limited to open at $0.378, and during the day (based on 14 day Average True Range), to move between $0.364 and $0.396, which gives a possible trading interval of +/-$0.0155 (+/-4.08%) up or down from last closing price. If Red 5 Limited takes out the full calculated possible swing range there will be an estimated 8.17% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $0.365, some $0.0150 (3.95%) from the current price of $0.380, our system finds the risk reward attractive.

Is Red 5 Limited stock A Buy?

Red 5 Limited 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 Buy to a Strong Buy candidate.

Current score: 6.673 Strong Buy Candidate Upgraded

Predicted Opening Price for Red 5 Limited of Tuesday, April 2, 2024

Fair opening price April 2, 2024 Current price
$0.378 ( 0.439%) $0.380

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

Trading levels for RED.AX

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 0.393 3.51 %
R2 0.388 2.00 %
R1 0.384 1.07 %
Current price: 0.380
Support S1 0.373 -1.95 %
S2 0.369 -2.88 %
S3 0.363 -4.39 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 0 .
R2 0 .
R1 0 .
Current price 0.380
Support S1 0.365 -3.95%
S2 0.360 -5.26%
S3 0.330 -13.16%

FAQ

What is the symbol for Red 5 Limited Stock and on which exchange is it traded?
The symbol for Red 5 Limited is RED.AX and it is traded on the ASX (Australian Securities Exchange).

Should I buy or sell Red 5 Limited Stock?
Red 5 Limited 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 Buy to a Strong Buy candidate.

How to buy Red 5 Limited Stock?
Red 5 Limited Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Red 5 Limited Stock.

What's the current price of Red 5 Limited Stock?
As of the end of day on the 2024-03-28, the price of an Red 5 Limited (RED.AX) share was $0.380.

What is the 52-week high and low for Red 5 Limited Stock?
The 52-week high for Red 5 Limited Stock is $0.385 and the 52-week low is $0.140.

What is the market capitalization of Red 5 Limited Stock?
As of the 2024-03-28, the market capitalization of Red 5 Limited is 1.316B.

When is the next earnings date for Red 5 Limited?
The upcoming earnings date for Red 5 Limited is Aug 28, 2024.
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About Red 5 Limited

Red 5 Limited Red 5 Limited engages in the exploration, production, and mining of gold deposits and mineral properties in the Philippines and Australia. The company holds interests in the Siana Gold project located in the Island of Mindanao, the Philippines; King of the Hills Gold project located in the Eastern Goldfields of Western Australia; and Darlot Gold mine situated in the north-east of Perth in Western Australia. Red 5 Limited was incorporated in 1995 ... RED.AX Profile

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