Texas Mineral Resources Corp. Stock Forecast
Texas Mineral Resources Corp. stock price up more than 5.56% on Thursday
(Updated on Apr 18, 2024)
The Texas Mineral Resources Corp. stock price gained 5.56% on the last trading day (Thursday, 18th Apr 2024), rising from $0.360 to $0.380. During the last trading day the stock fluctuated 8.28% from a day low at $0.360 to a day high of $0.390. The price has risen in 5 of the last 10 days and is up by 0.11% over the past 2 weeks. Volume fell on the last day by -26 thousand shares and in total, 9 thousand shares were bought and sold for approximately $3.24 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 is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Texas Mineral Resources Corp. stock with a 90% probability to be traded between $0.341 and $0.438 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
TMRC Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 5.56%. 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. The Texas Mineral Resources Corp. 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 $0.382 and $0.390. A break-up above any of these levels will issue buy signals. 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 not be. The very low volume increases the risk and reduces the other technical signals issued.
A buy signal from a double bottom formation was found on Tuesday, January 30, 2024 and based on theory for this formation the price should go up by 4.56% to $0.397 within 3 trading days since signal was issued (Friday, April 19, 2024).
Support, Risk & Stop-loss for Texas Mineral Resources Corp. stock
Texas Mineral Resources Corp. finds support from accumulated volume at $0.377 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 $0.0298 between high and low, or 8.28%. For the last week the stock has had daily average volatility of 8.44%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TMRC) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Texas Mineral Resources Corp. to open at $0.377, and during the day (based on 14 day Average True Range), to move between $0.350 and $0.410, which gives a possible trading interval of +/-$0.0299 (+/-7.87%) up or down from last closing price. If Texas Mineral Resources Corp. takes out the full calculated possible swing range there will be an estimated 15.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.377 (0.92%) than the resistance at $0.410 (7.89%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Texas Mineral Resources Corp. stock A Buy?
Texas Mineral Resources Corp. 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.
Current score: -2.558 Sell Candidate Unchanged
Predicted Opening Price for Texas Mineral Resources Corp. of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $0.377 ( 0.89%) | $0.380 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TMRC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.406 | 6.95 % | |
| R2 | 0.395 | 3.95 % | ||
| R1 | 0.388 | 2.10 % | ||
| Current price: | 0.380 | |||
| Support | S1 | 0.365 | -3.89 % | |
| S2 | 0.358 | -5.74 % | ||
| S3 | 0.347 | -8.74 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.447 | 17.62 % | |
| R2 | 0.447 | 17.58 % | ||
| R1 | 0.410 | 7.89 % | ||
| Current price | 0.380 | |||
| Support | S1 | 0.377 | -0.92% | |
| S2 | 0.375 | -1.32% | ||
| S3 | 0.350 | -7.89% |
FAQ
Click here for our free guide on how to buy Texas Mineral Resources Corp. Stock.
