RE:MACD Generation Mining Limited stock downgraded to Sell Candidate (Updated on September 10, 2021)
Sell candidate since 2021-09-10 PDF
The Generation Mining Limited stock price fell by -1.76% on the last day (Friday, 10th Sep 2021) from $0.63 to $0.61. and has now fallen 3 days in a row. During the day the stock fluctuated 4.80% from a day low at $0.59 to a day high of $0.62. The price has fallen in 6 of the last 10 days and is down by -2.4% for this period. Volume has increased on the last day by 34 thousand 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, 35 thousand shares were bought and sold for approximately $21.78 thousand.
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 -28.10% during the next 3 months and, with a 90% probability hold a price between $0.39 and $0.51 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.
Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, August 19, 2021, and so far it has risen 2.23%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 months 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 Generation Mining Limited 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 $0.64 and $0.66. A break-up above any of these levels will issue buy signals. Generation Mining Limited 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". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss
Generation Mining Limited finds support from accumulated volume at $0.61 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0284 between high and low, or 4.80%. For the last week, the stock has had a daily average volatility of 5.16%.
Our recommended stop-loss: We hold an negative evaluation for this stock. No stop-loss is set.
Is Generation Mining Limited stock A Buy?
Generation Mining Limited 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 Hold/Accumulate to a Sell candidate.
Current score: -3.430
Predicted Opening Price for Generation Mining Limited of Monday, September 13, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
| Fair opening price September 13, 2021 | Current price |
| $0.61 | $0.61 (Overvalued) |
Sell CandidateDowngraded Copied from Stock Invest.US, not everyone is in agreement.