Santana Minerals Ltd Stock Forecast
Red day on Wednesday for Santana Minerals Ltd stock after losing 0%
(Updated on Jun 26, 2024)
No changes to the price of Santana Minerals Ltd stock on the last trading day (Wednesday, 26th Jun 2024). During the last trading day the stock fluctuated 1.96% from a day low at A$1.02 to a day high of A$1.04. The price has risen in 5 of the last 10 days but is still down by -4.67% for this period.
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 -20.91% during the next 3 months and, with a 90% probability hold a price between A$0.749 and A$0.92 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
SMI.AX Signals & Forecast
There are mixed signals in the stock today. The Santana Minerals Ltd 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 A$1.07 and A$1.09. A break-up above any of these levels will issue buy signals. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued. A buy signal was issued from a pivot bottom point on Tuesday, June 25, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Santana Minerals Ltd stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved A$0.0200 between high and low, or 1.96%. For the last week the stock has had daily average volatility of 4.01%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SMI.AX) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Santana Minerals Ltd to open at A$1.03, and during the day (based on 14 day Average True Range), to move between A$0.97 and A$1.07, which gives a possible trading interval of +/-A$0.0462 (+/-4.53%) up or down from last closing price. If Santana Minerals Ltd takes out the full calculated possible swing range there will be an estimated 9.05% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ A$1.08, some A$0.0600 (5.88%) from the current price of A$1.02, our system finds the risk reward not very attractive.
Is Santana Minerals Ltd stock A Buy?
Santana Minerals Ltd holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.771 Sell Candidate Unchanged
Predicted Opening Price for Santana Minerals Ltd of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| A$1.03 ( 0.654%) | A$1.02 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SMI.AX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.05 | 2.61% |
| R2 | 1.04 | 1.87% |
| R1 | 1.03 | 1.40% |
| Price | 1.02 | |
| S1 | 1.02 | -0.0954% |
| S2 | 1.01 | -0.558% |
| S3 | 1.01 | -1.31% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.14 | 11.76% |
| R2 | 1.12 | 9.80% |
| R1 | 1.08 | 5.88% |
| Price | 1.02 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
Click here for our free guide on how to buy Santana Minerals Ltd Stock.
