International Tower Hill Mines Ltd(USA] Stock Forecast
International Tower Hill Mines Ltd(USA] stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on Apr 19, 2024)
The International Tower Hill Mines Ltd(USA] stock price gained 0.754% on the last trading day (Friday, 19th Apr 2024), rising from $0.670 to $0.675. During the last trading day the stock fluctuated 5.41% from a day low at $0.660 to a day high of $0.696. The price has been going up and down for this period, and there has been a -1.34% loss 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, 50 thousand more shares were traded than the day before. In total, 101 thousand shares were bought and sold for approximately $68.01 thousand.
The stock lies in the middle of a very wide and strong 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 29.22% during the next 3 months and, with a 90% probability hold a price between $0.780 and $1.06 at the end of this 3-month period.
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THM Signals & Forecast
The International Tower Hill Mines Ltd(USA] stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $0.702. On a fall, the stock will find some support from the long-term average at approximately $0.665. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. International Tower Hill Mines Ltd(USA] 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, April 11, 2024, and so far it has fallen -15.60%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for International Tower Hill Mines Ltd(USA] stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.620 and $0.620. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, International Tower Hill Mines Ltd(USA] finds support just below today's level at $0.620. If this is broken, then the next support from accumulated volume will be at $0.620 and $0.610.
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 $0.0357 between high and low, or 5.41%. For the last week, the stock has had daily average volatility of 7.40%.
Our recommended stop-loss: $0.634 (-6.02%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (THM) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect International Tower Hill Mines Ltd(USA] to open at $0.677, and during the day (based on 14 day Average True Range), to move between $0.623 and $0.727, which gives a possible trading interval of +/-$0.0522 (+/-7.73%) up or down from last closing price. If International Tower Hill Mines Ltd(USA] takes out the full calculated possible swing range there will be an estimated 15.46% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.710 (5.19%) than the support at $0.620 (8.15%), 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 International Tower Hill Mines Ltd(USA] stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for International Tower Hill Mines Ltd(USA] stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.923 Buy Candidate Upgraded
Predicted Opening Price for International Tower Hill Mines Ltd(USA] of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $0.677 ( 0.281%) | $0.675 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for THM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.713 | 5.57 % | |
| R2 | 0.699 | 3.55 % | ||
| R1 | 0.691 | 2.30 % | ||
| Current price: | 0.675 | |||
| Support | S1 | 0.663 | -1.74 % | |
| S2 | 0.655 | -2.99 % | ||
| S3 | 0.641 | -5.01 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.751 | 11.26 % | |
| R2 | 0.728 | 7.78 % | ||
| R1 | 0.710 | 5.19 % | ||
| Current price | 0.675 | |||
| Support | S1 | 0.620 | -8.15% | |
| S2 | 0.620 | -8.16% | ||
| S3 | 0.610 | -9.63% |
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![International Tower Hill Mines Ltd(USA]](/storage/logos/ithmines.com.png)
