AMERICAN MANGANESE Stock Forecast
Red day on Wednesday for AMERICAN MANGANESE
(Updated on Mar 27, 2024)
The AMERICAN MANGANESE stock price fell by -1.71% on the last day (Wednesday, 27th Mar 2024) from $0.125 to $0.123. During the last trading day the stock fluctuated 2.80% from a day low at $0.122 to a day high of $0.125. The price has been going up and down for this period, and there has been a -6.17% loss for the last 2 weeks. Volume has increased on the last day by 19 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 26 thousand shares were bought and sold for approximately $3.16 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 -26.10% during the next 3 months and, with a 90% probability hold a price between $0.0583 and $0.111 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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AMYZF Signals & Forecast
There are few to no technical positive signals at the moment. The AMERICAN MANGANESE 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 $0.125 and $0.129. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, March 04, 2024, and so far it has fallen -25.76%. 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). AMERICAN MANGANESE gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for AMERICAN MANGANESE stock
AMERICAN MANGANESE finds support from accumulated volume at $0.119 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 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 $0.0034 between high and low, or 2.80%. For the last week, the stock has had daily average volatility of 5.96%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AMYZF) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect AMERICAN MANGANESE to open at $0.123, and during the day (based on 14 day Average True Range), to move between $0.110 and $0.135, which gives a possible trading interval of +/-$0.0123 (+/-10.03%) up or down from last closing price. If AMERICAN MANGANESE takes out the full calculated possible swing range there will be an estimated 20.05% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.119 (2.78%) than the resistance at $0.133 (8.49%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is AMERICAN MANGANESE stock A Buy?
AMERICAN MANGANESE holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -3.354 Sell Candidate Unchanged
Predicted Opening Price for AMERICAN MANGANESE of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$0.123 ( 0.381%) | $0.123 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AMYZF
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.126 | 3.16 % | |
R2 | 0.125 | 2.10 % | ||
R1 | 0.124 | 1.44 % | ||
Current price: | 0.123 | |||
Support | S1 | 0.122 | -0.679 % | |
S2 | 0.121 | -1.33 % | ||
S3 | 0.120 | -2.39 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.140 | 14.37 % | |
R2 | 0.133 | 8.57 % | ||
R1 | 0.133 | 8.49 % | ||
Current price | 0.123 | |||
Support | S1 | 0.119 | -2.78% | |
S2 | 0.111 | -9.14% | ||
S3 | 0.0963 | -21.39% |
FAQ
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