Yandal Resources Limited Stock Forecast
Volatile ride for Yandal Resources Limited stock price on Friday moving between $0.120 and $0.140
(Updated on Jun 28, 2024)
The Yandal Resources Limited stock price gained 7.69% on the last trading day (Friday, 28th Jun 2024), rising from $0.130 to $0.140. During the last trading day the stock fluctuated 16.67% from a day low at $0.120 to a day high of $0.140. The price has risen in 4 of the last 10 days and is up by 21.74% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 72 thousand more shares were traded than the day before. In total, 72 thousand shares were bought and sold for approximately $10.01 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -5.82% during the next 3 months and, with a 90% probability hold a price between $0.0820 and $0.152 at the end of this 3-month period.
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YRL.AX Signals & Forecast
The Yandal Resources Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.131 and $0.124. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Yandal Resources 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. A sell signal was issued from a pivot top point on Friday, April 12, 2024, and so far it has fallen -17.65%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Yandal Resources Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.130 and $0.120. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Yandal Resources Limited finds support just below today's level at $0.130. If this is broken, then the next support from accumulated volume will be at $0.120 and $0.110.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0200 between high and low, or 16.67%. For the last week, the stock has had daily average volatility of 5.61%.
Our recommended stop-loss: $0.132 (-5.66%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 69 days ago.)
Trading Expectations (YRL.AX) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Yandal Resources Limited to open at $0.133, and during the day (based on 14 day Average True Range), to move between $0.134 and $0.146, which gives a possible trading interval of +/-$0.0058 (+/-4.17%) up or down from last closing price. If Yandal Resources Limited takes out the full calculated possible swing range there will be an estimated 8.35% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.150 (7.14%) than the support at $0.130 (7.14%), 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 Yandal Resources Limited stock A Buy?
Yandal Resources Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
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 Yandal Resources Limited of Monday, July 1, 2024
Fair opening price July 1, 2024 | Current price |
---|---|
$0.133 ( 4.76%) | $0.140 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for YRL.AX
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.153 | 9.52% |
R2 | 0.146 | 4.07% |
R1 | 0.141 | 0.695% |
Price | 0.140 | |
S1 | 0.126 | -10.22% |
S2 | 0.121 | -13.59% |
S3 | 0.113 | -19.05% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.170 | 21.43% |
R2 | 0.155 | 10.71% |
R1 | 0.150 | 7.14% |
Price | 0.140 | |
S1 | 0.130 | -7.14% |
S2 | 0.120 | -14.29% |
S3 | 0.110 | -21.43% |
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