Athabasca Oil Corporation Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Athabasca Oil Corporation stock downgraded from Hold/Accumulate to Sell Candidate after Thursday trading session.
(Updated on Jun 27, 2024)
The Athabasca Oil Corporation stock price gained 1.07% on the last trading day (Thursday, 27th Jun 2024), rising from $3.74 to $3.78. During the last trading day the stock fluctuated 1.32% from a day low at $3.78 to a day high of $3.83. The price has risen in 5 of the last 10 days and is up by 3% over the past 2 weeks. Volume fell on the last day by -3 thousand shares and in total, 1 thousand shares were bought and sold for approximately $5.48 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $3.79 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -4.13% during the next 3 months and, with a 90% probability hold a price between $3.13 and $3.64 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
The Athabasca Oil Corporation 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 $3.70 and $3.62. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, June 24, 2024, and so far it has fallen -0.526%. 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.
Support, Risk & Stop-loss for Athabasca Oil Corporation stock
Athabasca Oil Corporation finds support from accumulated volume at $3.62 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 $0.0500 between high and low, or 1.32%. For the last week the stock has had daily average volatility of 1.63%.
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 Friday 28th
For the upcoming trading day on Friday, 28th we expect Athabasca Oil Corporation to open at $3.80, and during the day (based on 14 day Average True Range), to move between $3.68 and $3.88, which gives a possible trading interval of +/-$0.101 (+/-2.67%) 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 $3.85 (1.72%) than the support at $3.62 (4.23%), 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 we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.196 Sell Candidate Downgraded
Predicted Opening Price for Athabasca Oil Corporation of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| $3.80 ( 0.441%) | $3.78 |
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 | 3.85 | 1.76% |
| R2 | 3.83 | 1.26% |
| R1 | 3.82 | 0.95% |
| Price | 3.78 | |
| S1 | 3.78 | -0.0644% |
| S2 | 3.77 | -0.377% |
| S3 | 3.75 | -0.88% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.06 | 7.41% |
| R2 | 3.85 | 1.85% |
| R1 | 3.85 | 1.72% |
| Price | 3.78 | |
| S1 | 3.62 | -4.23% |
| S2 | 3.58 | -5.29% |
| S3 | 3.54 | -6.35% |
FAQ
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