ASA Gold and Precious Metals Limited Stock Forecast
ASA Gold and Precious Metals Limited stock downgraded from Strong Buy Candidate to Hold/Accumulate after Friday trading session.
(Updated on Apr 19, 2024)
The ASA Gold and Precious Metals Limited stock price gained 1.63% on the last trading day (Friday, 19th Apr 2024), rising from $17.20 to $17.48. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.31% from a day low at $17.32 to a day high of $17.72. The price has been going up and down for this period, and there has been a 2.88% gain for the last 2 weeks. Volume fell on the last day by -40 thousand shares and in total, 47 thousand shares were bought and sold for approximately $817.05 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the upper part of a 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 $17.68 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 20.28% during the next 3 months and, with a 90% probability hold a price between $17.96 and $21.27 at the end of this 3-month period.
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ASA Signals & Forecast
The ASA Gold and Precious Metals 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 $17.07 and $15.72. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, February 28, 2024, and so far it has risen 32.42%. Further rise is indicated until a new top pivot has been found. 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. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for ASA Gold and Precious Metals Limited stock
ASA Gold and Precious Metals Limited finds support from accumulated volume at $16.99 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.400 between high and low, or 2.31%. For the last week the stock has had daily average volatility of 2.08%.
The ASA Gold and Precious Metals Limited 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 and the RSI is still moving upwards. 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: $16.98 (-2.84%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 83 and this increases the risk substantially. There is a buy signal from a pivot bottom found 36 days ago.)
Trading Expectations (ASA) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect ASA Gold and Precious Metals Limited to open at $17.51, and during the day (based on 14 day Average True Range), to move between $17.07 and $17.89, which gives a possible trading interval of +/-$0.414 (+/-2.37%) up or down from last closing price. If ASA Gold and Precious Metals Limited takes out the full calculated possible swing range there will be an estimated 4.74% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $16.99, some $0.490 (2.80%) from the current price of $17.48, our system finds the risk reward attractive.
Is ASA Gold and Precious Metals Limited stock A Buy?
ASA Gold and Precious Metals 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 Strong 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 ASA Gold and Precious Metals Limited of Monday, April 22, 2024
Fair opening price April 22, 2024 | Current price |
---|---|
$17.51 ( 0.153%) | $17.48 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ASA
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 17.91 | 2.44 % | |
R2 | 17.75 | 1.57 % | ||
R1 | 17.66 | 1.03 % | ||
Current price: | 17.48 | |||
Support | S1 | 17.35 | -0.722 % | |
S2 | 17.26 | -1.26 % | ||
S3 | 17.11 | -2.14 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 17.48 | |||
Support | S1 | 16.99 | -2.80% | |
S2 | 16.97 | -2.92% | ||
S3 | 14.99 | -14.24% |
ASA Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 03, 2024 | May 03, 2024 | May 16, 2024 | $0.0200 | 0.115% |
2 | Sep 25, 2023 | Nov 14, 2023 | Nov 22, 2023 | $0.0100 | 0.0705% |
3 | Mar 28, 2023 | May 05, 2023 | May 18, 2023 | $0.0100 | 0.0630% |
4 | Sep 26, 2022 | Nov 10, 2022 | Nov 28, 2018 | $0.0100 | 0.114% |
5 | Mar 24, 2022 | May 06, 2022 | May 19, 2022 | $0.0100 | 0.0532% |
FAQ
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