Tanami Gold NL Stock Forecast
Stronger technical forecast for Tanami Gold NL stock price after Friday trading.
(Updated on Jun 28, 2024)
The Tanami Gold NL stock price gained 3.33% on the last trading day (Friday, 28th Jun 2024), rising from $0.0300 to $0.0310. During the last trading day the stock fluctuated 3.33% from a day low at $0.0300 to a day high of $0.0310. The price has been going up and down for this period, and there has been a -6.06% loss 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, 341 thousand more shares were traded than the day before. In total, 353 thousand shares were bought and sold for approximately $10.94 thousand.
The stock lies in the middle of a 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 -21.34% during the next 3 months and, with a 90% probability hold a price between $0.0235 and $0.0274 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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TAM.AX Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 27, 2024, and so far it has risen 3.33%. Further rise is indicated until a new top pivot has been found. Tanami Gold NL 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. 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. The Tanami Gold NL 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 $0.0313 and $0.0337. 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 Tanami Gold NL stock
Tanami Gold NL finds support from accumulated volume at $0.0300 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0010 between high and low, or 3.33%. For the last week, the stock has had daily average volatility of 1.98%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TAM.AX) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Tanami Gold NL to open at $0.0307, and during the day (based on 14 day Average True Range), to move between $0.0301 and $0.0319, which gives a possible trading interval of +/-$0.0009 (+/-2.94%) up or down from last closing price. If Tanami Gold NL takes out the full calculated possible swing range there will be an estimated 5.88% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0300 (3.23%) than the resistance at $0.0340 (9.68%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Tanami Gold NL stock A Buy?
Tanami Gold NL holds several negative signals and is within a 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: -1.184 Sell Candidate Upgraded
Predicted Opening Price for Tanami Gold NL of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $0.0307 ( 1.08%) | $0.0310 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TAM.AX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0317 | 2.15% |
| R2 | 0.0313 | 0.92% |
| R1 | 0.0310 | 0.157% |
| Price | 0.0310 | |
| S1 | 0.0303 | -2.31% |
| S2 | 0.0300 | -3.07% |
| S3 | 0.0297 | -4.30% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0360 | 16.13% |
| R2 | 0.0350 | 12.90% |
| R1 | 0.0340 | 9.68% |
| Price | 0.0310 | |
| S1 | 0.0300 | -3.23% |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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