Bear Creek Mining Corporation Stock Forecast

Bear Creek Mining Corporation stock upgraded from Hold/Accumulate to Buy Candidate after Thursday trading session.
(Updated on May 09, 2024)

BCM.V Signals & Forecast

There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Friday, April 19, 2024, and so far it has fallen -14.29%. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. The Bear Creek Mining 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 $0.355 and $0.335. A breakdown below any of these levels will issue sell signals.

Support, Risk & Stop-loss for Bear Creek Mining Corporation stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.340 and $0.310. 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, Bear Creek Mining Corporation finds support just below today's level at $0.340. If this is broken, then the next support from accumulated volume will be at $0.310 and $0.290.

This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0300 between high and low, or 8.82%. For the last week the stock has had daily average volatility of 6.72%.

Our recommended stop-loss: $0.340 (-5.49%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 14 days ago.)

Trading Expectations (BCM.V) For The Upcoming Trading Day Of Friday 10th

For the upcoming trading day on Friday, 10th we expect Bear Creek Mining Corporation to open at $0.357, and during the day (based on 14 day Average True Range), to move between $0.330 and $0.390, which gives a possible trading interval of +/-$0.0301 (+/-8.36%) up or down from last closing price. If Bear Creek Mining Corporation takes out the full calculated possible swing range there will be an estimated 16.71% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.340 (5.56%) than the resistance at $0.380 (5.56%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Bear Creek Mining Corporation stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Bear Creek Mining Corporation stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 3.054 Buy Candidate Upgraded

Predicted Opening Price for Bear Creek Mining Corporation of Friday, May 10, 2024

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