Resolute Mining Limited Stock Forecast
Resolute Mining Limited stock downgraded to Buy Candidate
(Updated on May 17, 2024)
The Resolute Mining Limited stock price fell by -3.09% on the last day (Friday, 17th May 2024) from $0.485 to $0.470. During the last trading day the stock fluctuated 3.66% from a day low at $0.465 to a day high of $0.482. The price has risen in 6 of the last 10 days and is up by 13.25% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -5 million shares and in total, 6 million shares were bought and sold for approximately $2.87 million.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 29.87% during the next 3 months and, with a 90% probability hold a price between $0.566 and $0.707 at the end of this 3-month period.
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RSG.AX Signals & Forecast
The Resolute Mining 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 $0.461 and $0.446. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Friday, April 12, 2024, and so far it has fallen -5.05%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. The stock had a Golden Star Signal on Monday, November 20, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Monday, November 20, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Resolute Mining Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.430 and $0.380. 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, Resolute Mining Limited finds support just below today's level at $0.430. If this is broken, then the next support from accumulated volume will be at $0.380 and $0.370.
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 $0.0170 between high and low, or 3.66%. For the last week, the stock has had daily average volatility of 4.06%.
Our recommended stop-loss: $0.451 (-4.14%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 24 days ago.)
Trading Expectations (RSG.AX) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Resolute Mining Limited to open at $0.472, and during the day (based on 14 day Average True Range), to move between $0.449 and $0.491, which gives a possible trading interval of +/-$0.0210 (+/-4.47%) up or down from last closing price. If Resolute Mining Limited takes out the full calculated possible swing range there will be an estimated 8.93% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.475 (1.06%) than the support at $0.430 (8.51%), 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.
Earnings coming up
Resolute Mining Limited will release earnings BMO on Thursday, May 23, 2024. We will update the financials statements for Resolute Mining Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.59% in the first trading day after earnings release.
Is Resolute Mining 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 Resolute Mining Limited stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 3.216 Buy Candidate Downgraded
Predicted Opening Price for Resolute Mining Limited of Monday, May 20, 2024
Fair opening price May 20, 2024 | Current price |
---|---|
$0.472 ( 0.496%) | $0.470 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RSG.AX
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.489 | 4.11 % | |
R2 | 0.483 | 2.73 % | ||
R1 | 0.479 | 1.88 % | ||
Current price: | 0.470 | |||
Support | S1 | 0.466 | -0.89 % | |
S2 | 0.462 | -1.74 % | ||
S3 | 0.455 | -3.12 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.495 | 5.32 % | |
R2 | 0.485 | 3.19 % | ||
R1 | 0.475 | 1.06 % | ||
Current price | 0.470 | |||
Support | S1 | 0.430 | -8.51% | |
S2 | 0.380 | -19.15% | ||
S3 | 0.370 | -21.28% |
RSG Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Aug 24, 2018 | Aug 31, 2018 | Oct 12, 2018 | $0.0179 | 1.61% |
2 | Aug 24, 2017 | Sep 28, 2017 | Oct 27, 2017 | $0.0179 | 1.71% |
3 | Aug 30, 2016 | Sep 19, 2016 | Oct 20, 2016 | $0.0152 | 0.85% |
4 | Aug 28, 2012 | Oct 22, 2012 | Nov 16, 2012 | $0.0448 | 2.48% |
FAQ
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