RED.AX Red 5 (ASX) top loser pre-market 31 Jan 2026: support at A$0.34

RED.AX stock opened weaker in the pre-market on 31 Jan 2026, trading at A$0.342 and down 0.87% versus the previous close as the company ranks among early top losers on the ASX. Volume is notable at 16,234,101 shares against an average of 29,916,731, indicating lighter trading interest than usual. The move tracks a cautious gold sector backdrop and mixed short-term technicals around the 50-day average. Investors should watch immediate support near A$0.34 and the year low at A$0.255 for downside risk.

RED.AX stock: Pre-market price action and drivers

RED.AX stock is trading pre-market at A$0.342 after opening at A$0.350 and closing yesterday at A$0.345. Today’s intraday range sits between A$0.337 and A$0.350. The small decline of 0.87% is driven by rotation within Basic Materials and profit-taking after recent gains YTD. Sector strength has been uneven; Basic Materials shows a YTD performance of 13.33%, but gold names can lag on weaker near-term metal prices. Market depth is thinner than average with relative volume 0.54, increasing short-term volatility risk.

RED.AX stock: Fundamental snapshot and valuation

Red 5 Limited (RED.AX) is a gold producer listed on the ASX with a market cap of A$2.33B and 6,802,469,888 shares outstanding. Reported EPS is A$0.02 and the reported PE sits near 17.10 on that EPS. Price-to-book is about 0.75, and operating cash flow per share is A$0.055. These metrics point to modest earnings cover but a balance sheet with cash per share A$0.122 and debt ratios that are manageable for a mining peer. Company details: Siana, King of the Hills and Darlot projects in the Philippines and Australia.

RED.AX stock: Technicals, volume and key levels

Technically, RED.AX stock trades slightly below its 50-day average of A$0.3461 and below the 200-day average of A$0.3690, signalling short-term pressure. Year high is A$0.495 and year low is A$0.255, giving a wide trading band. Key immediate support: A$0.34, secondary support near the year low A$0.26. Resistance sits at A$0.37 and stronger resistance at A$0.50. Average volume sits at 29,916,731 so today’s volume at 16,234,101 suggests lighter trading and potential gap risk on news.

RED.AX stock: Meyka AI grade and risk factors

Meyka AI rates RED.AX with a score out of 100: Score: 59.84 | Grade: C+ | Suggestion: HOLD. This grade factors S&P 500 comparison, sector and industry benchmarks, financial growth, key metrics, forecasts and analyst consensus. Key risks include commodity-price sensitivity, project execution in the Philippines, and liquidity swings given high shares outstanding. Operational leverage at mines can amplify earnings volatility, and investors should monitor production updates and cost guidance closely. These grades are informational only and not financial advice.

RED.AX stock: Analyst outlook and valuation forecasts

Meyka AI’s forecast model projects a 12-month value of A$0.627 for RED.AX stock, a three-year projection of A$0.833, and a five-year projection of A$1.038. Compared with the current price A$0.342, the 12-month target implies an upside of 83.33%. These model-based projections reflect metal price assumptions and project delivery scenarios. Forecasts are model-based projections and not guarantees. For active traders, a nearer-term tactical target of A$0.45 and a conservative stop near A$0.30 could manage risk while watching operational updates.

RED.AX stock: Trading strategy for top losers

As a pre-market top loser, RED.AX stock suits disciplined, size-limited trades. Consider waiting for a clear daily close below A$0.34 before adding short exposure, or a confirmed bounce above A$0.37 for a short-term long trade. Use stop-losses around A$0.30 and size positions to limit a single-trade drawdown to 1–2% of capital. Follow official updates from Red 5 and monitor gold price swings and sector flows. For detailed company metrics visit Meyka’s RED.AX stock page: Red 5 on Meyka. For broader market moves see Reuters and CME coverage: Reuters market news and Bloomberg interest-rate insights.

Final Thoughts

RED.AX stock opened weaker in pre-market trade on 31 Jan 2026 at A$0.342, making it a top pre-market loser on the ASX amid mixed gold-sector momentum and below-average liquidity. Fundamentals show modest EPS (A$0.02) and a price-to-book near 0.75, while technicals sit under the 50- and 200-day averages — a sign of short-term pressure. Meyka AI’s forecast model projects A$0.627 in 12 months, implying an estimated upside of 83.33% versus the current price; this figure assumes steady project delivery and supportive gold prices. Given the C+ (59.84) Meyka grade and operational risks in the Philippines and Australia, a cautious HOLD stance with tight risk controls is appropriate for most investors. Short-term traders should watch A$0.34 support and the A$0.37–0.45 resistance band; longer-term investors focused on gold exposure can monitor production updates and cash flow improvements before adding exposure. Forecasts are model-based projections and not guarantees.

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Stock markets involve risks. This content is for informational purposes only. Past performance does not guarantee future results. Meyka AI PTY LTD provides market analysis and data insights, not financial advice. Always conduct your own research and consider consulting a licensed financial advisor.