Sunstone Metals Limited Stock Forecast
Big movements in Sunstone Metals Limited stock price on Wednesday moving 25.00% between high and low
(Updated on Jun 26, 2024)
The Sunstone Metals Limited stock price gained 11.11% on the last trading day (Wednesday, 26th Jun 2024), rising from $0.0090 to $0.0100. During the last trading day the stock fluctuated 25.00% from a day low at $0.0080 to a day high of $0.0100. The price has been going up and down for this period, and there has been a 0% change 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, 9 million more shares were traded than the day before. In total, 14 million shares were bought and sold for approximately $143.39 thousand.
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 -33.39% during the next 3 months and, with a 90% probability hold a price between $0.0046 and $0.0075 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.
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STM.AX Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 25, 2024, and so far it has risen 11.11%. Further rise is indicated until a new top pivot has been found. Sunstone Metals Limited 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. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Sunstone Metals Limited 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 $0.0101 and $0.0110. 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).
Support, Risk & Stop-loss for Sunstone Metals Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0090. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the stock price.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0020 between high and low, or 25.00%. For the last week, the stock has had daily average volatility of 13.22%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (STM.AX) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Sunstone Metals Limited to open at $0.0093, and during the day (based on 14 day Average True Range), to move between $0.0088 and $0.0112, which gives a possible trading interval of +/-$0.0012 (+/-12.23%) up or down from last closing price. If Sunstone Metals Limited takes out the full calculated possible swing range there will be an estimated 24.45% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0110 (10.00%) than the support at $0.0090 (10.00%), 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 Sunstone Metals Limited stock A Buy?
Sunstone Metals Limited 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -2.375 Sell Candidate Upgraded
Predicted Opening Price for Sunstone Metals Limited of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| $0.0093 ( 6.67%) | $0.0100 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for STM.AX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0113 | 13.33% |
| R2 | 0.0106 | 5.69% |
| R1 | 0.0101 | 0.97% |
| Price | 0.0100 | |
| S1 | 0.0086 | -14.31% |
| S2 | 0.0081 | -19.03% |
| S3 | 0.0073 | -26.67% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0.0120 | 20.00% |
| R1 | 0.0110 | 10.00% |
| Price | 0.0100 | |
| S1 | 0.0090 | -10.00% |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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