First Mining Finance Stock Forecast
Volatile ride for First Mining Finance stock price on Thursday moving between $0.0882 and $0.100
(Updated on Mar 28, 2024)
The First Mining Finance stock price gained 4.91% on the last trading day (Thursday, 28th Mar 2024), rising from $0.0875 to $0.0918. During the last trading day the stock fluctuated 13.38% from a day low at $0.0882 to a day high of $0.100. The price has been going up and down for this period, and there has been a 1.66% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 39 thousand more shares were traded than the day before. In total, 554 thousand shares were bought and sold for approximately $50.88 thousand.
The stock lies the upper part of a very wide and falling 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 $0.0965 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -6.18% during the next 3 months and, with a 90% probability hold a price between $0.0665 and $0.0905 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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FFMGF Signals & Forecast
The First Mining Finance 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 $0.0910 and $0.0863. 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). First Mining Finance 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 Thursday, March 21, 2024, and so far it has fallen -5.36%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for First Mining Finance stock
First Mining Finance finds support from accumulated volume at $0.0917 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 $0.0118 between high and low, or 13.38%. For the last week, the stock has had daily average volatility of 9.04%.
Our recommended stop-loss: $0.0868 (-5.49%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (FFMGF) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect First Mining Finance to open at $0.0933, and during the day (based on 14 day Average True Range), to move between $0.0840 and $0.0996, which gives a possible trading interval of +/-$0.0078 (+/-8.51%) up or down from last closing price. If First Mining Finance takes out the full calculated possible swing range there will be an estimated 17.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0917 (0.11%) than the resistance at $0.0921 (0.33%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is First Mining Finance stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.470 Buy Candidate Upgraded
Predicted Opening Price for First Mining Finance of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$0.0933 ( 1.67%) | $0.0918 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FFMGF
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.105 | 14.52 % | |
R2 | 0.101 | 9.61 % | ||
R1 | 0.0978 | 6.58 % | ||
Current price: | 0.0918 | |||
Support | S1 | 0.0888 | -3.24 % | |
S2 | 0.0860 | -6.27 % | ||
S3 | 0.0815 | -11.18 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.0970 | 5.66 % | |
R2 | 0.0926 | 0.87 % | ||
R1 | 0.0921 | 0.327 % | ||
Current price | 0.0918 | |||
Support | S1 | 0.0917 | -0.109% | |
S2 | 0.0833 | -9.23% | ||
S3 | 0.0825 | -10.13% |
FAQ
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