Alien Metals Ltd Stock Forecast

Weaker technical forecast for Alien Metals Ltd as stock downgraded to Sell Candidate.
(Updated on Apr 26, 2024)

UFO.L Signals & Forecast

The Alien Metals Ltd stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately £0.186. On a fall, the stock will find some support from the long-term average at approximately £0.155. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Wednesday, April 17, 2024, and so far it has fallen -18.60%. Further fall is indicated until a new bottom pivot has been found. 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".

Support, Risk & Stop-loss for Alien Metals Ltd stock

Alien Metals Ltd finds support from accumulated volume at £0.170 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved £0.0099 between high and low, or 5.82%. For the last week the stock has had daily average volatility of 12.52%.

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

Trading Expectations (UFO.L) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect Alien Metals Ltd to open at £0.175, and during the day (based on 14 day Average True Range), to move between £0.151 and £0.199, which gives a possible trading interval of +/-£0.0243 (+/-13.88%) up or down from last closing price. If Alien Metals Ltd takes out the full calculated possible swing range there will be an estimated 27.76% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at £0.170 (2.86%) than the resistance at £0.180 (2.86%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Alien Metals Ltd stock A Buy?

Alien Metals Ltd holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -1.704 Sell Candidate Downgraded

Predicted Opening Price for Alien Metals Ltd of Monday, April 29, 2024

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