Terrain Minerals Limited Stock Forecast
Volatile ride for Terrain Minerals Limited stock price on Monday moving between $0.0030 and $0.0040
(Updated on Jun 24, 2024)
The Terrain Minerals Limited stock price gained 33.33% on the last trading day (Monday, 24th Jun 2024), rising from $0.0030 to $0.0040. During the last trading day the stock fluctuated 33.33% from a day low at $0.0030 to a day high of $0.0040. The price has been going up and down for this period, and there has been a 33.33% gain 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, 10 million more shares were traded than the day before. In total, 11 million shares were bought and sold for approximately $44.97 thousand.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $0.0043 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -18.68% during the next 3 months and, with a 90% probability hold a price between $0.0018 and $0.0035 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
TMX.AX Signals & Forecast
The Terrain Minerals 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 $0.0031 and $0.0033. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, June 05, 2024, and so far it has risen 33.33%. Further rise is indicated until a new top pivot has been found. Terrain Minerals 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
A buy signal from a double bottom formation was found on Wednesday, June 05, 2024 and based on theory for this formation the price should go up by 16.67% to $0.0047 within 12 trading days since signal was issued (Monday, June 24, 2024).
Support, Risk & Stop-loss for Terrain Minerals Limited stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.0010 between high and low, or 33.33%. For the last week, the stock has had daily average volatility of 6.67%.
Our recommended stop-loss: $0.0038 (-4.00%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (TMX.AX) For The Upcoming Trading Day Of Tuesday 25th
For the upcoming trading day on Tuesday, 25th we expect Terrain Minerals Limited to open at $0.0037, and during the day (based on 14 day Average True Range), to move between $0.0037 and $0.0043, which gives a possible trading interval of +/-$0.0003 (+/-7.93%) up or down from last closing price. If Terrain Minerals Limited takes out the full calculated possible swing range there will be an estimated 15.86% move between the lowest and the highest trading price during the day.
Is Terrain Minerals Limited stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 3.144 Buy Candidate Upgraded
Predicted Opening Price for Terrain Minerals Limited of Tuesday, June 25, 2024
| Fair opening price June 25, 2024 | Current price |
|---|---|
| $0.0037 ( 8.33%) | $0.0040 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TMX.AX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0047 | 16.67% |
| R2 | 0.0043 | 7.12% |
| R1 | 0.0040 | 1.22% |
| Price | 0.0040 | |
| S1 | 0.0033 | -17.88% |
| S2 | 0.0030 | -23.78% |
| S3 | 0.0027 | -33.33% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 0.0040 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
Click here for our free guide on how to buy Terrain Minerals Limited Stock.
