Truscott Mining Corp Ltd Stock Forecast

Stronger technical forecast for Truscott Mining Corp Ltd stock price after Friday trading.
(Updated on Jun 28, 2024)

TRM.AX Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, June 12, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. 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$0.0601 and A$0.0636. 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).

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

Truscott Mining Corp Ltd finds support from accumulated volume at A$0.0590 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 between high and low, or 0%. For the last week, the stock has had daily average volatility of 1.34%.

Our recommended stop-loss: A$0.0562 (-6.30%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 23 days ago.)

Trading Expectations (TRM.AX) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Truscott Mining Corp Ltd to open at A$0.0600, and during the day (based on 14 day Average True Range), to move between A$0.0578 and A$0.0622, which gives a possible trading interval of +/-A$0.0022 (+/-3.70%) 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 7.40% 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$0.0590 (1.67%), 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?

Truscott Mining Corp 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Upgraded

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 Truscott Mining Corp Ltd of Monday, July 1, 2024

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