Strategic Minerals Plc Stock Forecast
Strategic Minerals Plc stock price down 0% on Wednesday
(Updated on Apr 24, 2024)
No changes to the price of Strategic Minerals Plc stock on the last trading day (Wednesday, 24th Apr 2024). During the last trading day the stock fluctuated 9.00% from a day low at £0.211 to a day high of £0.230. The price has fallen in 5 of the last 10 days and is down by -10% for this period.
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 9.66% during the next 3 months and, with a 90% probability hold a price between £0.178 and £0.349 at the end of this 3-month period.
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SML.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 Strategic Minerals Plc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at £0.241 and £0.237. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, February 23, 2024, and so far it has fallen -25.00%. 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".
Support, Risk & Stop-loss for Strategic Minerals Plc stock
Strategic Minerals Plc finds support from accumulated volume at £0.215 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 periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved £0.0190 between high and low, or 9.00%. For the last week the stock has had daily average volatility of 24.95%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SML.L) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Strategic Minerals Plc to open at £0.222, and during the day (based on 14 day Average True Range), to move between £0.174 and £0.276, which gives a possible trading interval of +/-£0.0510 (+/-22.69%) up or down from last closing price. If Strategic Minerals Plc takes out the full calculated possible swing range there will be an estimated 45.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £0.226 (0.44%) than the support at £0.215 (4.40%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Strategic Minerals Plc stock A Buy?
The Strategic Minerals Plc stock holds several negative signals and despite the positive trend, we believe Strategic Minerals Plc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.951 Sell Candidate Unchanged
Predicted Opening Price for Strategic Minerals Plc of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| £0.222 ( 1.33%) | £0.225 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SML.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.241 | 7.11 % | |
| R2 | 0.234 | 3.89 % | ||
| R1 | 0.229 | 1.89 % | ||
| Current price: | 0.225 | |||
| Support | S1 | 0.215 | -4.56 % | |
| S2 | 0.210 | -6.55 % | ||
| S3 | 0.203 | -9.78 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.275 | 22.22 % | |
| R2 | 0.250 | 11.11 % | ||
| R1 | 0.226 | 0.444 % | ||
| Current price | 0.225 | |||
| Support | S1 | 0.215 | -4.40% | |
| S2 | 0.210 | -6.67% | ||
| S3 | 0.175 | -22.22% |
FAQ
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