Athabasca Stock Forecast
Athabasca stock upgraded to Buy Candidate.
(Updated on Jul 02, 2024)
The Athabasca stock price gained 3.47% on the last trading day (Tuesday, 2nd Jul 2024), rising from $5.18 to $5.36. During the last trading day the stock fluctuated 2.48% from a day low at $5.24 to a day high of $5.37. The price has been going up and down for this period, and there has been a 8.06% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $17.33 million.
The stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $5.46 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Athabasca stock with a 90% probability to be traded between $4.50 and $5.35 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. 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.
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ATH.TO Signals & Forecast
Mostly positive signals in the chart today. The Athabasca 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 $5.14 and $4.97. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 15.02%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Athabasca stock
On the downside, the stock finds support just below today's level from accumulated volume at $4.91 and $4.83. 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, Athabasca finds support just below today's level at $4.91. If this is broken, then the next support from accumulated volume will be at $4.83 and $4.80.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.130 (2.48%) between high and low. For the last week, the stock has had daily average volatility of 2.14%.
Our recommended stop-loss: $5.16 (-3.66%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 57 days ago.)
Trading Expectations (ATH.TO) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Athabasca Oil Corporation to open at $5.32, and during the day (based on 14 day Average True Range), to move between $5.22 and $5.50, which gives a possible trading interval of +/-$0.143 (+/-2.66%) up or down from last closing price. If Athabasca Oil Corporation takes out the full calculated possible swing range there will be an estimated 5.33% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $5.56 (3.73%) than the support at $4.91 (8.40%), 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 Athabasca Oil Corporation stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Athabasca stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.892 Buy Candidate Upgraded
Predicted Opening Price for Athabasca Oil Corporation of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $5.32 ( 0.684%) | $5.36 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ATH.TO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5.45 | 1.74% |
| R2 | 5.40 | 0.81% |
| R1 | 5.37 | 0.242% |
| Price | 5.36 | |
| S1 | 5.27 | -1.61% |
| S2 | 5.24 | -2.18% |
| S3 | 5.19 | -3.11% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 5.56 | 3.73% |
| Price | 5.36 | |
| S1 | 4.91 | -8.40% |
| S2 | 4.83 | -9.89% |
| S3 | 4.80 | -10.45% |
FAQ
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