Strategic Metals Ltd. Stock Forecast
Green day on Friday for Strategic Metals Ltd. stock after gaining 3.59%
(Updated on Jun 14, 2024)
The Strategic Metals Ltd. stock price gained 3.59% on the last trading day (Friday, 14th Jun 2024), rising from $0.131 to $0.136. During the last trading day the stock fluctuated 0% from a day low at $0.136 to a day high of $0.136. The price has been going up and down for this period, and there has been a -0.29% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 thousand more shares were traded than the day before. In total, 2 thousand shares were bought and sold for approximately $203.70 .
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -4.33% during the next 3 months and, with a 90% probability hold a price between $0.121 and $0.150 at the end of this 3-month period.
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SMDZF Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, May 30, 2024, and so far it has risen 4.46%. Further rise is indicated until a new top pivot has been found. Strategic Metals Ltd. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Strategic Metals Ltd. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $0.137. On a fall, the stock will find some support from the short-term average at $0.132. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
A buy signal from a double bottom formation was found on Thursday, May 30, 2024 and based on theory for this formation the price should go up by 18.60% to $0.161 within 20 trading days since signal was issued (Monday, June 17, 2024).
Support, Risk & Stop-loss for Strategic Metals Ltd. stock
Strategic Metals Ltd. 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 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 between high and low, or 0%. For the last week, the stock has had daily average volatility of 0%.
Our recommended stop-loss: $0.129 (-5.26%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (SMDZF) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect Strategic Metals Ltd. to open at $0.136, and during the day (based on 14 day Average True Range), to move between $0.131 and $0.140, which gives a possible trading interval of +/-$0.0046 (+/-3.41%) up or down from last closing price. If Strategic Metals Ltd. takes out the full calculated possible swing range there will be an estimated 6.82% 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 (0.81%) than the resistance at $0.139 (2.61%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Strategic Metals Ltd. stock A Buy?
Strategic Metals Ltd. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Strategic Metals Ltd. of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| $0.136 ( 0%) | $0.136 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SMDZF
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.136 | - |
| R2 | 0.136 | - |
| R1 | 0.136 | - |
| Price | 0.136 | |
| S1 | 0.136 | - |
| S2 | 0.136 | - |
| S3 | 0.136 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.154 | 13.40% |
| R2 | 0.140 | 3.09% |
| R1 | 0.139 | 2.61% |
| Price | 0.136 | |
| S1 | 0.135 | -0.81% |
| S2 | 0.131 | -3.76% |
| S3 | 0.130 | -4.27% |
FAQ
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