Rox Resources Limited Stock Forecast

Rox Resources Limited stock price ended at $0.137 on Thursday, after losing 2.14%.
(Updated on Jun 20, 2024)

RXL.AX Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, June 18, 2024, and so far it has risen 1.48%. 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 Rox Resources Limited 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 $0.141 and $0.161. 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). Rox Resources Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Rox Resources Limited stock

Rox Resources Limited finds support from accumulated volume at $0.135 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0050 between high and low, or 3.70%. For the last week, the stock has had daily average volatility of 3.65%.

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

Trading Expectations (RXL.AX) For The Upcoming Trading Day Of Friday 21st

For the upcoming trading day on Friday, 21st we expect Rox Resources Limited to open at $0.137, and during the day (based on 14 day Average True Range), to move between $0.130 and $0.144, which gives a possible trading interval of +/-$0.0069 (+/-5.01%) up or down from last closing price. If Rox Resources Limited takes out the full calculated possible swing range there will be an estimated 10.01% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.135 (1.46%) than the resistance at $0.155 (13.14%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Rox Resources Limited stock A Buy?

Rox Resources Limited 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: -4.991 Sell Candidate Unchanged

Predicted Opening Price for Rox Resources Limited of Friday, June 21, 2024

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