Bear Creek Mining Corporation Stock Forecast

Big movements in Bear Creek Mining Corporation stock price on Friday moving 18.99% between high and low
(Updated on May 17, 2024)

BCM.V Signals & Forecast

Mostly positive signals in the chart today. 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 $0.387 and $0.363. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, May 14, 2024, and so far it has risen 28.99%. 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). Bear Creek Mining Corporation 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 Bear Creek Mining Corporation stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.400 and $0.385. 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 $0.400. If this is broken, then the next support from accumulated volume will be at $0.385 and $0.380.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0750 between high and low, or 18.99%. For the last week, the stock has had daily average volatility of 12.91%.

Our recommended stop-loss: $0.428 (-3.84%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 3 days ago.)

Trading Expectations (BCM.V) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect Bear Creek Mining Corporation to open at $0.437, and during the day (based on 14 day Average True Range), to move between $0.408 and $0.482, which gives a possible trading interval of +/-$0.0370 (+/-8.32%) 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 16.63% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $0.400, some $0.0450 (10.11%) from the current price of $0.445, our system finds the risk reward attractive.

Is Bear Creek Mining Corporation stock A Buy?

Bear Creek Mining Corporation holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". 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: 7.385 Strong Buy Candidate Upgraded

Predicted Opening Price for Bear Creek Mining Corporation of Tuesday, May 21, 2024

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