Desert Mountain Energy Corp. Stock Forecast
Big movements in Desert Mountain Energy Corp. stock price on Friday moving 12.09% between high and low
(Updated on Apr 26, 2024)
The Desert Mountain Energy Corp. stock price gained 8.31% on the last trading day (Friday, 26th Apr 2024), rising from $0.175 to $0.190. During the last trading day the stock fluctuated 12.09% from a day low at $0.170 to a day high of $0.190. The price has fallen in 6 of the last 10 days and is down by -0.52% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 5 thousand more shares were traded than the day before. In total, 10 thousand shares were bought and sold for approximately $1.86 thousand.
The stock lies in the middle of a very 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 -6.22% during the next 3 months and, with a 90% probability hold a price between $0.153 and $0.195 at the end of this 3-month period.
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DMEHF Signals & Forecast
The Desert Mountain Energy Corp. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.180 and $0.189. A breakdown below any of these levels will issue sell signals. Desert Mountain Energy Corp. 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. The very low volume increases the risk and reduces the other technical signals issued. 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 Tuesday, March 26, 2024, and so far it has fallen -10.59%. 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).
Support, Risk & Stop-loss for Desert Mountain Energy Corp. stock
Desert Mountain Energy Corp. finds support from accumulated volume at $0.184 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.0205 between high and low, or 12.09%. For the last week, the stock has had daily average volatility of 6.71%.
Our recommended stop-loss: $0.181 (-4.60%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 22 days ago.)
Trading Expectations (DMEHF) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Desert Mountain Energy Corp. to open at $0.183, and during the day (based on 14 day Average True Range), to move between $0.178 and $0.202, which gives a possible trading interval of +/-$0.0118 (+/-6.20%) up or down from last closing price. If Desert Mountain Energy Corp. takes out the full calculated possible swing range there will be an estimated 12.41% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.194 (2.11%) than the support at $0.184 (3.16%), 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 Desert Mountain Energy Corp. stock A Buy?
Desert Mountain Energy Corp. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Hold/Accumulate candidate.
Current score: -0.561 Hold/Accumulate Upgraded
Predicted Opening Price for Desert Mountain Energy Corp. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $0.183 ( 3.60%) | $0.190 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DMEHF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.204 | 7.19 % | |
| R2 | 0.196 | 3.07 % | ||
| R1 | 0.191 | 0.525 % | ||
| Current price: | 0.190 | |||
| Support | S1 | 0.175 | -7.72 % | |
| S2 | 0.170 | -10.26 % | ||
| S3 | 0.163 | -14.39 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.200 | 5.26 % | |
| R2 | 0.196 | 3.21 % | ||
| R1 | 0.194 | 2.11 % | ||
| Current price | 0.190 | |||
| Support | S1 | 0.184 | -3.16% | |
| S2 | 0.181 | -4.54% | ||
| S3 | 0.180 | -5.26% |
FAQ
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