Spearmint Resources Inc. Stock Forecast
A very red day for Spearmint Resources Inc. stock price after a -23.45% fall in the Tuesday trading session
(Updated on Jun 25, 2024)
The Spearmint Resources Inc. stock price fell by -23.45% on the last day (Tuesday, 25th Jun 2024) from $0.0145 to $0.0111. During the last trading day the stock fluctuated 0% from a day low at $0.0111 to a day high of $0.0111. The price has risen in 4 of the last 10 days and is up by 0.91% over the past 2 weeks. Volume has increased on the last day by 50 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 52 thousand shares were bought and sold for approximately $577.20 .
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.0099 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -15.30% during the next 3 months and, with a 90% probability hold a price between $0.0084 and $0.0149 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 21, 2024, and so far it has fallen 0%. 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 Spearmint Resources Inc. 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 $0.0125 and $0.0139. 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). Spearmint Resources Inc. 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 Spearmint Resources Inc. stock
Spearmint Resources Inc. finds support from accumulated volume at $0.0110 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". 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 Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Spearmint Resources Inc. to open at $0.0111, and during the day (based on 14 day Average True Range), to move between $0.0085 and $0.0137, which gives a possible trading interval of +/-$0.0026 (+/-23.09%) up or down from last closing price. If Spearmint Resources Inc. takes out the full calculated possible swing range there will be an estimated 46.17% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0110 (0.90%) than the resistance at $0.0128 (15.32%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Spearmint Resources Inc. stock A Buy?
Spearmint Resources Inc. 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Sell candidate.
Current score: -6.337 Strong Sell Candidate Downgraded
Predicted Opening Price for Spearmint Resources Inc. of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $0.0111 ( 0%) | $0.0111 |
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 | 0.0111 | - |
| R2 | 0.0111 | - |
| R1 | 0.0111 | - |
| Price | 0.0111 | |
| S1 | 0.0111 | - |
| S2 | 0.0111 | - |
| S3 | 0.0111 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0137 | 23.42% |
| R2 | 0.0132 | 18.47% |
| R1 | 0.0128 | 15.32% |
| Price | 0.0111 | |
| S1 | 0.0110 | -0.90% |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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