Salazar Resources Limited Stock Forecast

Salazar Resources Limited stock price down 0% on Tuesday
(Updated on May 07, 2024)

SRL.V Signals & Forecast

The Salazar Resources Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.0929 and $0.0793. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, May 06, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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.

Buy

Special Signal Notification

Double Bottom Formation

A buy signal from a double bottom formation was found on Friday, March 08, 2024 with a target of $0.0636. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.

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

On the downside, the stock finds support just below today's level from accumulated volume at $0.0900 and $0.0800. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Salazar Resources Limited finds support just below today's level at $0.0900. If this is broken, then the next support from accumulated volume will be at $0.0800 and $0.0750.

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 5.62%

Our recommended stop-loss: $0.0913 (-3.88%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (SRL.V) For The Upcoming Trading Day Of Wednesday 8th

For the upcoming trading day on Wednesday, 8th we expect Salazar Resources Limited to open at $0.0950, and during the day (based on 14 day Average True Range), to move between $0.0881 and $0.102, which gives a possible trading interval of +/-$0.0069 (+/-7.31%) up or down from last closing price. If Salazar Resources Limited takes out the full calculated possible swing range there will be an estimated 14.62% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.100 (5.26%) than the support at $0.0900 (5.26%), 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 Salazar Resources Limited stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Salazar Resources Limited stock to perform well in the short-term.

Current score: 2.538 Buy Candidate Unchanged

Predicted Opening Price for Salazar Resources Limited of Wednesday, May 8, 2024

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