AbraPlata Resource Corp Stock Forecast

Weaker technical forecast for AbraPlata Resource Corp as stock downgraded to Hold/Accumulate.
(Updated on Jun 27, 2024)

ABBRF Signals & Forecast

There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Thursday, June 20, 2024, and so far it has fallen -11.17%. Further fall is indicated until a new bottom pivot has been found. 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. The AbraPlata Resource Corp 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 $1.63. On a fall, the stock will find some support from the long-term average at approximately $0.671. 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. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for AbraPlata Resource Corp stock

AbraPlata Resource Corp finds support from accumulated volume at $1.58 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 very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 3.27%.

The AbraPlata Resource Corp stock is extremely overbought on RSI14 (85). This increases the short-term risk substantially.

Our recommended stop-loss: $1.51 (-4.80%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 85 and this increases the risk substantially. There is a sell signal from a pivot top found 40 days ago.)

Trading Expectations (ABBRF) For The Upcoming Trading Day Of Friday 28th

For the upcoming trading day on Friday, 28th we expect AbraPlata Resource Corp to open at $1.59, and during the day (based on 14 day Average True Range), to move between $1.50 and $1.68, which gives a possible trading interval of +/-$0.0859 (+/-5.40%) up or down from last closing price. If AbraPlata Resource Corp takes out the full calculated possible swing range there will be an estimated 10.80% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $1.60 (0.63%) than the support at $1.58 (0.63%), 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 AbraPlata Resource Corp stock A Buy?

AbraPlata Resource Corp holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: -0.110 Hold/Accumulate Downgraded

Predicted Opening Price for AbraPlata Resource Corp of Friday, June 28, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.