Spearmint Resources Inc. Stock Forecast
Spearmint Resources Inc. stock upgraded from Strong Sell Candidate to Sell Candidate after Monday trading session.
(Updated on Jun 17, 2024)
No changes to the price of Spearmint Resources Inc. stock on the last trading day (Monday, 17th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at $0.0120 to a day high of $0.0120. The price has been going up and down for this period, and there has been a -28.57% loss for the last 2 weeks.
The stock lies in the middle of a very 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 -11.97% during the next 3 months and, with a 90% probability hold a price between $0.0092 and $0.0158 at the end of this 3-month period.
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SPMTF Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 14, 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Spearmint Resources Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $0.0142 and $0.0142. 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.
Support, Risk & Stop-loss for Spearmint Resources Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0111 and $0.0110. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $0.0110 may give a huge drop in the stock price.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock 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: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SPMTF) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Spearmint Resources Inc. to open at $0.0120, and during the day (based on 14 day Average True Range), to move between $0.0095 and $0.0145, which gives a possible trading interval of +/-$0.0025 (+/-20.88%) up or down from last closing price. If Spearmint Resources Inc. takes out the full calculated possible swing range there will be an estimated 41.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0128 (6.67%) than the support at $0.0111 (7.50%), 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 Spearmint Resources Inc. stock A Buy?
Spearmint Resources Inc. 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -2.870 Sell Candidate Upgraded
Predicted Opening Price for Spearmint Resources Inc. of Tuesday, June 18, 2024
Fair opening price June 18, 2024 | Current price |
---|---|
$0.0120 ( 0.00000000%) | $0.0120 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SPMTF
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.0120 | 0.00000000% |
R2 | 0.0120 | 0.00000000% |
R1 | 0.0120 | 0.00000000% |
Price | 0.0120 | |
S1 | 0.0120 | 0.00000000% |
S2 | 0.0120 | 0.00000000% |
S3 | 0.0120 | 0.00000000% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.0149 | 24.17% |
R2 | 0.0146 | 21.67% |
R1 | 0.0128 | 6.67% |
Price | 0.0120 | |
S1 | 0.0111 | -7.50% |
S2 | 0.0110 | -8.33% |
S3 | 0 | - |
FAQ
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