Beowulf Mining PLC Stock Forecast
Volatile ride for Beowulf Mining PLC stock price on Wednesday moving between £0.650 and £0.750
(Updated on Mar 27, 2024)
The Beowulf Mining PLC stock price fell by -3.70% on the last day (Wednesday, 27th Mar 2024) from £0.675 to £0.650. During the last trading day the stock fluctuated 15.38% from a day low at £0.650 to a day high of £0.750. The price has fallen in 6 of the last 10 days and is down by -13.33% for this period. Volume has increased on the last day by 1 million 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, 2 million shares were bought and sold for approximately £1.11 million.
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 -35.18% during the next 3 months and, with a 90% probability hold a price between £0.207 and £1.19 at the end of this 3-month period.
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BEM.L Signals & Forecast
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. The Beowulf Mining PLC 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 £0.700 and £1.08. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, January 29, 2024, and so far it has fallen -74.00%. Further fall is indicated until a new bottom pivot has been found. Beowulf Mining PLC 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".
Support, Risk & Stop-loss for Beowulf Mining PLC stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved £0.1000 between high and low, or 15.38%. For the last week, the stock has had daily average volatility of 22.04%.
Beowulf Mining PLC is oversold on RSI14 (19). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BEM.L) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Beowulf Mining PLC to open at £0.683, and during the day (based on 14 day Average True Range), to move between £0.513 and £0.787, which gives a possible trading interval of +/-£0.137 (+/-21.11%) up or down from last closing price. If Beowulf Mining PLC takes out the full calculated possible swing range there will be an estimated 42.23% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ £0.675, some £0.0250 (3.85%) from the current price of £0.650, our system finds the risk reward not very attractive.
Is Beowulf Mining PLC stock A Buy?
Beowulf Mining PLC 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -7.671 Strong Sell Candidate Downgraded
Predicted Opening Price for Beowulf Mining PLC of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
£0.683 ( 5.13%) | £0.650 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BEM.L
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.783 | 20.51 % | |
R2 | 0.745 | 14.64 % | ||
R1 | 0.722 | 11.01 % | ||
Current price: | 0.650 | |||
Support | S1 | 0.645 | -0.749 % | |
S2 | 0.622 | -4.38 % | ||
S3 | 0.583 | -10.26 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.80 | 23.08 % | |
R2 | 0.750 | 15.38 % | ||
R1 | 0.675 | 3.85 % | ||
Current price | 0.650 | |||
Support | S1 | 0 | . | |
S2 | 0 | . | ||
S3 | 0 | . |
FAQ
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