Truscott Mining Corp Ltd Stock Forecast

Red day on Wednesday for Truscott Mining Corp Ltd stock after losing 0%
(Updated on Jun 26, 2024)

TRM.AX Signals & Forecast

Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". 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 Truscott Mining Corp Ltd 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 A$0.0603 and A$0.0635. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 01, 2024, and so far it has fallen -14.29%. 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).

Support, Risk & Stop-loss for Truscott Mining Corp Ltd stock

Truscott Mining Corp Ltd finds support from accumulated volume at A$0.0580 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 A$0.0010 between high and low, or 1.69%. For the last week, the stock has had daily average volatility of 1.67%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (TRM.AX) For The Upcoming Trading Day Of Thursday 27th

For the upcoming trading day on Thursday, 27th we expect Truscott Mining Corp Ltd to open at A$0.0597, and during the day (based on 14 day Average True Range), to move between A$0.0574 and A$0.0626, which gives a possible trading interval of +/-A$0.0026 (+/-4.35%) up or down from last closing price. If Truscott Mining Corp Ltd takes out the full calculated possible swing range there will be an estimated 8.70% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at A$0.0610 (1.67%) than the support at A$0.0580 (3.33%), 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 Truscott Mining Corp Ltd stock A Buy?

The Truscott Mining Corp Ltd stock holds several negative signals and despite the positive trend, we believe Truscott Mining Corp Ltd will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -2.224 Sell Candidate Unchanged

Predicted Opening Price for Truscott Mining Corp Ltd of Thursday, June 27, 2024

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