Tinka Resources Limited Stock Forecast

Tinka Resources Limited stock price down 0% on Friday
(Updated on Jun 14, 2024)

TK.V Signals & Forecast

The Tinka Resources Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.132 and $0.134. A breakdown below any of these levels will issue sell signals. 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 Thursday, May 30, 2024, and so far it has fallen -3.57%. 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 fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Thursday, May 30, 2024 and based on theory for this formation the price should fall by -13.58% to $0.117 within 18 trading days since signal was issued (Monday, June 17, 2024).

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

Tinka Resources Limited finds support from accumulated volume at $0.130 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0.769%.

Our recommended stop-loss: $0.129 (-4.57%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 12 days ago.)

Trading Expectations (TK.V) For The Upcoming Trading Day Of Monday 17th

For the upcoming trading day on Monday, 17th we expect Tinka Resources Limited to open at $0.135, and during the day (based on 14 day Average True Range), to move between $0.132 and $0.138, which gives a possible trading interval of +/-$0.0030 (+/-2.25%) up or down from last closing price. If Tinka Resources Limited takes out the full calculated possible swing range there will be an estimated 4.51% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.140 (3.70%) than the support at $0.130 (3.70%), 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?

Tinka Resources Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.254 Hold/Accumulate Unchanged

Predicted Opening Price for Tinka Resources Limited of Monday, June 17, 2024

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