RSI low/high Values: [ 25 - 80 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of ARRRF
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Weaker technical forecast for Ardea Resources Ltd as stock downgraded to Hold/Accumulate.
(Updated on Mar 28, 2024)

Buy or Hold candidate since Mar 01, 2024 Gain 56.10% PDF

No changes to the price of Ardea Resources Ltd stock on the last trading day (Thursday, 28th Mar 2024). During the last trading day the stock fluctuated 0% from a day low at $0.480 to a day high of $0.480. The price has been going up and down for this period, and there has been a 16.67% gain for the last 2 weeks.

The stock lies in the upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $0.499 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 50.69% during the next 3 months and, with a 90% probability hold a price between $0.489 and $0.752 at the end of this 3-month period.

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ARRRF Signals & Forecast

The Ardea Resources Ltd 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 $0.475 and $0.350. 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). 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, March 27, 2024, and so far it has fallen 0%. 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". The very low volume increases the risk and reduces the other technical signals issued.

Buy
Special Signal Notification

Double Bottom Formation

Double Bottom Formation A buy signal from a double bottom formation was found on Friday, February 02, 2024 with a target of $0.266. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.

Support, Risk & Stop-loss for Ardea Resources Ltd stock

Ardea Resources Ltd finds support from accumulated volume at $0.477 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0.98%

The Ardea Resources Ltd stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: $0.465 (-3.16%) (This stock has low daily movements and this gives low risk. The RSI14 is 92 and this increases the risk substantially. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (ARRRF) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Ardea Resources Ltd to open at $0.480, and during the day (based on 14 day Average True Range), to move between $0.466 and $0.494, which gives a possible trading interval of +/-$0.0143 (+/-2.97%) up or down from last closing price. If Ardea Resources Ltd takes out the full calculated possible swing range there will be an estimated 5.94% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $0.477, some $0.0034 (0.71%) from the current price of $0.480, our system finds the risk reward attractive.

Is Ardea Resources Ltd stock A Buy?

Ardea Resources Ltd 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 Ardea Resources Ltd of Monday, April 1, 2024

Fair opening price April 1, 2024 Current price
$0.480 ( 0%) $0.480

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

Trading levels for ARRRF

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 0.480 .
R2 0.480 .
R1 0.480 .
Current price: 0.480
Support S1 0.480 .
S2 0.480 .
S3 0.480 .

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 0 .
R2 0 .
R1 0 .
Current price 0.480
Support S1 0.477 -0.712%
S2 0.475 -1.04%
S3 0.463 -3.46%

FAQ

What is the symbol for Ardea Resources Ltd Stock and on which exchange is it traded?
The symbol for Ardea Resources Ltd is ARRRF and it is traded on the PINK (Pink Sheets).

Should I buy or sell Ardea Resources Ltd Stock?
Ardea Resources Ltd 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.

How to buy Ardea Resources Ltd Stock?
Ardea Resources Ltd Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Ardea Resources Ltd Stock.

What's the current price of Ardea Resources Ltd Stock?
As of the end of day on the 2024-03-28, the price of an Ardea Resources Ltd (ARRRF) share was $0.480.

What is the 52-week high and low for Ardea Resources Ltd Stock?
The 52-week high for Ardea Resources Ltd Stock is $0.530 and the 52-week low is $0.200.

What is the market capitalization of Ardea Resources Ltd Stock?
As of the 2024-03-28, the market capitalization of Ardea Resources Ltd is 94.568M.
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About Ardea Resources Ltd

Ardea Resources Ltd Ardea Resources Limited engages in the exploration and development of mineral properties in Australia. The company explores for nickel, cobalt, scandium, gold, PGEs, and copper deposits. It holds 100% interest in Kalgoorlie Nickel Project (KNP) located in the Kalgoorlie, Western Australia that comprises nickel and cobalt mineral resources, and nickel sulphide and gold prospects; and Bardoc Tectonic Zone Gold Project, which has nickel sulphide pro... ARRRF Profile

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