Tinka Resources Limited Stock Forecast
High volatility in Tinka Resources Limited stock price on Friday which ended trading at $0.130
(Updated on Jun 21, 2024)
The Tinka Resources Limited stock price gained 4.00% on the last trading day (Friday, 21st Jun 2024), rising from $0.125 to $0.130. During the last trading day the stock fluctuated 20.00% from a day low at $0.125 to a day high of $0.150. 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, 157 thousand more shares were traded than the day before. In total, 158 thousand shares were bought and sold for approximately $20.48 thousand.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 2.06% during the next 3 months and, with a 90% probability hold a price between $0.128 and $0.144 at the end of this 3-month period.
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TK.V Signals & Forecast
The Tinka Resources 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 $0.131 and $0.133. 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). Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Thursday, June 20, 2024, and so far it has risen 4.00%. Further rise is indicated until a new top pivot has been found. Tinka Resources 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. The very low volume increases the risk and reduces the other technical signals issued.
A buy signal from a double bottom formation was found on Thursday, June 20, 2024 and based on theory for this formation the price should go up by 3.25% to $0.134 within 26 trading days since signal was issued (Monday, July 29, 2024).
Support, Risk & Stop-loss for Tinka Resources Limited stock
Tinka Resources Limited finds support from accumulated volume at $0.125 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 $0.0250 between high and low, or 20.00%. For the last week, the stock has had daily average volatility of 4.77%.
Our recommended stop-loss: $0.122 (-5.88%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 16 days ago.)
Trading Expectations (TK.V) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Tinka Resources Limited to open at $0.135, and during the day (based on 14 day Average True Range), to move between $0.125 and $0.135, which gives a possible trading interval of +/-$0.0045 (+/-3.46%) up or down from last closing price. If Tinka Resources Limited takes out the full calculated possible swing range there will be an estimated 6.92% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.135 (3.85%) than the support at $0.125 (3.85%), 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 Tinka Resources Limited stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.064 Buy Candidate Upgraded
Predicted Opening Price for Tinka Resources Limited of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $0.135 ( 3.85%) | $0.130 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TK.V
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.160 | 23.08% |
| R2 | 0.150 | 15.73% |
| R1 | 0.145 | 11.19% |
| Price | 0.130 | |
| S1 | 0.125 | -3.50% |
| S2 | 0.120 | -8.04% |
| S3 | 0.110 | -15.38% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0.140 | 7.69% |
| R1 | 0.135 | 3.85% |
| Price | 0.130 | |
| S1 | 0.125 | -3.85% |
| S2 | 0.120 | -7.69% |
| S3 | 0 | - |
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