Elcora Advanced Materials Corp. Stock Forecast

Weaker technical forecast for Elcora Advanced Materials Corp. as stock downgraded to Sell Candidate.
(Updated on May 17, 2024)

ECORF Signals & Forecast

There are few to no technical positive signals at the moment. The Elcora Advanced Materials Corp. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.0250 and $0.0275. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 16, 2024, and so far it has fallen 0%. 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 Elcora Advanced Materials Corp. stock

Elcora Advanced Materials Corp. finds support from accumulated volume at $0.0227 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 very controlled movements and therefore the general risk is considered very 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 between high and low, or 0%. For the last week the stock has had daily average volatility of 5.10%

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (ECORF) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Elcora Advanced Materials Corp. to open at $0.0238, and during the day (based on 14 day Average True Range), to move between $0.0218 and $0.0258, which gives a possible trading interval of +/-$0.0020 (+/-8.52%) up or down from last closing price. If Elcora Advanced Materials Corp. takes out the full calculated possible swing range there will be an estimated 17.03% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0245 (3.03%) than the support at $0.0227 (4.54%), 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 Elcora Advanced Materials Corp. stock A Buy?

The Elcora Advanced Materials Corp. stock holds several negative signals and despite the positive trend, we believe Elcora Advanced Materials Corp. will perform weakly in the next couple of days or weeks. Therefore, we 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: -3.663 Sell Candidate Downgraded

Predicted Opening Price for Elcora Advanced Materials Corp. of Monday, May 20, 2024

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