Ramelius Resources Limited Stock Forecast
Ramelius Resources Limited stock price ended at $2.03 on Monday, after gaining 1.50%.
(Updated on May 13, 2024)
The Ramelius Resources Limited stock price gained 1.50% on the last trading day (Monday, 13th May 2024), rising from $2.00 to $2.03. During the last trading day the stock fluctuated 3.50% from a day low at $2.00 to a day high of $2.07. The price has risen in 7 of the last 10 days but is still down by -1.46% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 706 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $6.47 million.
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 $2.00 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 52.60% during the next 3 months and, with a 90% probability hold a price between $3.05 and $3.36 at the end of this 3-month period.
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RMS.AX Signals & Forecast
The Ramelius Resources 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 $1.98 and $1.95. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Tuesday, April 30, 2024, and so far it has fallen -2.87%. 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).
Support, Risk & Stop-loss for Ramelius Resources Limited stock
Ramelius Resources Limited finds support from accumulated volume at $1.96 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.0700 (3.50%) between high and low. For the last week, the stock has had daily average volatility of 2.53%.
Our recommended stop-loss: $1.93 (-4.69%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (RMS.AX) For The Upcoming Trading Day Of Tuesday 14th
For the upcoming trading day on Tuesday, 14th we expect Ramelius Resources Limited to open at $2.03, and during the day (based on 14 day Average True Range), to move between $1.97 and $2.09, which gives a possible trading interval of +/-$0.0630 (+/-3.10%) up or down from last closing price. If Ramelius Resources Limited takes out the full calculated possible swing range there will be an estimated 6.20% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.05 (0.99%) than the support at $1.96 (3.45%), 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 Ramelius Resources Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Ramelius Resources Limited stock to perform well in the short-term.
Current score: 4.726 Buy Candidate Unchanged
Predicted Opening Price for Ramelius Resources Limited of Tuesday, May 14, 2024
| Fair opening price May 14, 2024 | Current price |
|---|---|
| $2.03 ( 0.164%) | $2.03 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RMS.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.10 | 3.61 % | |
| R2 | 2.08 | 2.30 % | ||
| R1 | 2.06 | 1.48 % | ||
| Current price: | 2.03 | |||
| Support | S1 | 2.01 | -1.15 % | |
| S2 | 1.99 | -1.97 % | ||
| S3 | 1.96 | -3.28 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.09 | 2.96 % | |
| R2 | 2.06 | 1.48 % | ||
| R1 | 2.05 | 0.99 % | ||
| Current price | 2.03 | |||
| Support | S1 | 1.96 | -3.45% | |
| S2 | 1.91 | -6.16% | ||
| S3 | 1.59 | -21.67% |
RMS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 15, 2022 | Sep 15, 2022 | Sep 15, 2022 | $0.0100 | 1.46% |
| 2 | Sep 01, 2021 | Sep 01, 2021 | Sep 01, 2021 | $0.0250 | 1.61% |
| 3 | Sep 01, 2020 | Sep 01, 2020 | Sep 01, 2020 | $0.0200 | 0.93% |
| 4 | Aug 26, 2019 | Sep 03, 2019 | Oct 04, 2019 | $0.0100 | 0.84% |
| 5 | May 05, 2010 | Dec 06, 2010 | Aug 20, 2010 | $0.0199 | 3.96% |
FAQ
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