Athabasca Oil Corporation Stock Forecast
Athabasca Oil Corporation stock price ended at $3.58 on Friday, after losing 0%.
(Updated on Jun 21, 2024)
No changes to the price of Athabasca Oil Corporation stock on the last trading day (Friday, 21st Jun 2024). During the last trading day the stock fluctuated 0.280% from a day low at $3.57 to a day high of $3.58. The price has risen in 4 of the last 10 days but is still down by -0.56% for this period.
The stock lies in the middle of a 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 -6.99% during the next 3 months and, with a 90% probability hold a price between $2.99 and $3.46 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.
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ATHOF Signals & Forecast
There are few to no technical positive signals at the moment. The Athabasca Oil Corporation stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $3.60 and $3.59. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 28, 2024, and so far it has fallen -5.79%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Athabasca Oil Corporation stock
Athabasca Oil Corporation finds support from accumulated volume at $3.54 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved $0.0100 between high and low, or 0.280%. For the last week the stock has had daily average volatility of 1.68%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ATHOF) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Athabasca Oil Corporation to open at $3.58, and during the day (based on 14 day Average True Range), to move between $3.48 and $3.68, which gives a possible trading interval of +/-$0.0981 (+/-2.74%) up or down from last closing price. If Athabasca Oil Corporation takes out the full calculated possible swing range there will be an estimated 5.48% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3.62 (1.12%) than the support at $3.54 (1.12%), 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?
Athabasca Oil Corporation holds several negative signals and is within a 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.
Current score: -2.994 Sell Candidate Unchanged
Predicted Opening Price for Athabasca Oil Corporation of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $3.58 ( 0.0931%) | $3.58 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ATHOF
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.59 | 0.186% |
| R2 | 3.58 | 0.0795% |
| R1 | 3.58 | 0.0136% |
| Price | 3.58 | |
| S1 | 3.57 | -0.200% |
| S2 | 3.57 | -0.266% |
| S3 | 3.57 | -0.372% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.06 | 13.41% |
| R2 | 3.85 | 7.54% |
| R1 | 3.62 | 1.12% |
| Price | 3.58 | |
| S1 | 3.54 | -1.12% |
| S2 | 3.52 | -1.68% |
| S3 | 3.50 | -2.23% |
FAQ
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