AbraSilver Resource Corp. Stock Forecast
Big movements in AbraSilver Resource Corp. stock price on Wednesday moving 12.09% between high and low
(Updated on May 15, 2024)
The AbraSilver Resource Corp. stock price gained 8.51% on the last trading day (Wednesday, 15th May 2024), rising from $0.470 to $0.510. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 12.09% from a day low at $0.455 to a day high of $0.510. The price has risen in 6 of the last 10 days and is up by 13.33% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $1.15 million.
The stock has broken the wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $0.495, a level that may pose a second chance to hit a runner. According to fan-theory $0.579 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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ABRA.V Signals & Forecast
Mostly positive signals in the chart today. The AbraSilver Resource Corp. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.468 and $0.412. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 37.84%. 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). AbraSilver Resource Corp. 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. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for AbraSilver Resource Corp. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.470 and $0.450. 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, AbraSilver Resource Corp. finds support just below today's level at $0.470. If this is broken, then the next support from accumulated volume will be at $0.450 and $0.395.
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 $0.0550 between high and low, or 12.09%. For the last week, the stock has had daily average volatility of 6.33%.
Our recommended stop-loss: $0.489 (-4.11%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 22 days ago.)
Trading Expectations (ABRA.V) For The Upcoming Trading Day Of Thursday 16th
For the upcoming trading day on Thursday, 16th we expect AbraSilver Resource Corp. to open at $0.492, and during the day (based on 14 day Average True Range), to move between $0.484 and $0.536, which gives a possible trading interval of +/-$0.0260 (+/-5.09%) up or down from last closing price. If AbraSilver Resource Corp. takes out the full calculated possible swing range there will be an estimated 10.18% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $0.470, some $0.0400 (7.84%) from the current price of $0.510, our system finds the risk reward attractive.
Is AbraSilver Resource Corp. stock A Buy?
AbraSilver Resource Corp. holds several positive signals and has broken the strong rising trend up. As the stock is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 8.781 Strong Buy Candidate Upgraded
Predicted Opening Price for AbraSilver Resource Corp. of Thursday, May 16, 2024
| Fair opening price May 16, 2024 | Current price |
|---|---|
| $0.492 ( 3.59%) | $0.510 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ABRA.V
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.547 | 7.19 % | |
| R2 | 0.526 | 3.07 % | ||
| R1 | 0.513 | 0.525 % | ||
| Current price: | 0.510 | |||
| Support | S1 | 0.471 | -7.71 % | |
| S2 | 0.458 | -10.26 % | ||
| S3 | 0.437 | -14.38 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 0.510 | |||
| Support | S1 | 0.470 | -7.84% | |
| S2 | 0.450 | -11.76% | ||
| S3 | 0.395 | -22.55% |
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