Yangarra Resources Ltd. Stock Forecast
Yangarra Resources Ltd. stock upgraded to Buy Candidate.
(Updated on May 31, 2024)
The Yangarra Resources Ltd. stock price gained 0.617% on the last trading day (Friday, 31st May 2024), rising from $0.81 to $0.82. During the last trading day the stock fluctuated 1.31% from a day low at $0.82 to a day high of $0.83. The price has fallen in 6 of the last 10 days and is down by -6.76% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 340 more shares were traded than the day before. In total, 36 thousand shares were bought and sold for approximately $29.01 thousand.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.81 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 3.01% during the next 3 months and, with a 90% probability hold a price between $0.83 and $0.94 at the end of this 3-month period.
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YGRAF Signals & Forecast
The Yangarra Resources 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 $0.84 and $0.86. 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). Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Thursday, May 30, 2024, and so far it has risen 0.617%. Further rise is indicated until a new top pivot has been found. Yangarra Resources Ltd. 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.
Support, Risk & Stop-loss for Yangarra Resources Ltd. stock
Yangarra Resources Ltd. finds support from accumulated volume at $0.81 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 $0.0107 between high and low, or 1.31%. For the last week, the stock has had daily average volatility of 2.05%.
Our recommended stop-loss: $0.765 (-6.13%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (YGRAF) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Yangarra Resources Ltd. to open at $0.82, and during the day (based on 14 day Average True Range), to move between $0.792 and $0.84, which gives a possible trading interval of +/-$0.0227 (+/-2.79%) up or down from last closing price. If Yangarra Resources Ltd. takes out the full calculated possible swing range there will be an estimated 5.57% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.81 (0.17%) than the resistance at $0.86 (5.52%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Yangarra Resources Ltd. stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.811 Buy Candidate Upgraded
Predicted Opening Price for Yangarra Resources Ltd. of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| $0.82 ( 0.438%) | $0.82 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for YGRAF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.83 | 1.75 % | |
| R2 | 0.83 | 1.25 % | ||
| R1 | 0.82 | 0.94 % | ||
| Current price: | 0.82 | |||
| Support | S1 | 0.81 | -0.0639 % | |
| S2 | 0.81 | -0.374 % | ||
| S3 | 0.81 | -0.88 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.88 | 7.98 % | |
| R2 | 0.87 | 6.75 % | ||
| R1 | 0.86 | 5.52 % | ||
| Current price | 0.82 | |||
| Support | S1 | 0.81 | -0.172% | |
| S2 | 0.81 | -0.613% | ||
| S3 | 0.81 | -0.85% |
FAQ
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