Thor Explorations Ltd. Stock Forecast
Weaker technical forecast for Thor Explorations Ltd. as stock downgraded to Hold/Accumulate.
(Updated on Jun 28, 2024)
The Thor Explorations Ltd. stock price fell by -1.29% on the last day (Friday, 28th Jun 2024) from £15.50 to £15.30. During the last trading day the stock fluctuated 5.08% from a day low at £14.75 to a day high of £15.50. The price has fallen in 6 of the last 10 days and is down by -0.33% for this period. Volume has increased on the last day by 270 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, 270 thousand shares were bought and sold for approximately £4.13 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at £15.20 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 8.12% during the next 3 months and, with a 90% probability hold a price between £16.44 and £18.18 at the end of this 3-month period.
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THX.L Signals & Forecast
There are few to no technical positive signals at the moment. The Thor Explorations Ltd. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at £15.45 and £15.43. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 20, 2024, and so far it has fallen -5.85%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Thor Explorations Ltd. stock
Thor Explorations Ltd. finds support from accumulated volume at £15.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved £0.750 between high and low, or 5.08%. For the last week the stock has had daily average volatility of 2.36%.
Our recommended stop-loss: £14.50 (-5.20%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 68 days ago.)
Trading Expectations (THX.L) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Thor Explorations Ltd. to open at £15.18, and during the day (based on 14 day Average True Range), to move between £14.79 and £15.81, which gives a possible trading interval of +/-£0.510 (+/-3.33%) up or down from last closing price. If Thor Explorations Ltd. takes out the full calculated possible swing range there will be an estimated 6.67% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £15.50 (1.31%) than the support at £15.00 (1.96%), 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 Thor Explorations Ltd. stock A Buy?
Thor Explorations Ltd. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. 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 Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Thor Explorations Ltd. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| £15.18 ( 0.763%) | £15.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for THX.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 15.93 | 4.14% |
| R2 | 15.65 | 2.27% |
| R1 | 15.47 | 1.11% |
| Price | 15.30 | |
| S1 | 14.90 | -2.64% |
| S2 | 14.72 | -3.79% |
| S3 | 14.43 | -5.66% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 16.25 | 6.21% |
| R2 | 15.75 | 2.94% |
| R1 | 15.50 | 1.31% |
| Price | 15.30 | |
| S1 | 15.00 | -1.96% |
| S2 | 14.75 | -3.59% |
| S3 | 14.50 | -5.23% |
FAQ
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