Taiton Resources Limited Stock Forecast

Red day on Wednesday for Taiton Resources Limited
(Updated on Jun 26, 2024)

T88.AX Signals & Forecast

The Taiton Resources Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $0.146. On a fall, the stock will find some support from the long-term average at approximately $0.108. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". The very low volume increases the risk and reduces the other technical signals issued. 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 Friday, June 21, 2024, and so far it has fallen -3.33%. 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).

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

Taiton Resources Limited finds support from accumulated volume at $0.140 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 $0.0050 between high and low, or 3.57%. For the last week, the stock has had daily average volatility of 3.52%.

Our recommended stop-loss: $0.138 (-4.58%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 5 days ago.)

Trading Expectations (T88.AX) For The Upcoming Trading Day Of Thursday 27th

For the upcoming trading day on Thursday, 27th we expect Taiton Resources Limited to open at $0.143, and during the day (based on 14 day Average True Range), to move between $0.137 and $0.153, which gives a possible trading interval of +/-$0.0076 (+/-5.25%) up or down from last closing price. If Taiton Resources Limited takes out the full calculated possible swing range there will be an estimated 10.51% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.140 (3.45%) than the resistance at $0.150 (3.45%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Taiton 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 Taiton Resources Limited stock to perform well in the short-term.

Current score: 1.466 Buy Candidate Unchanged

Predicted Opening Price for Taiton Resources Limited of Thursday, June 27, 2024

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