Electra Battery Materials Corporation Stock Forecast
Electra Battery Materials Corporation stock price ended at $0.487 on Wednesday, after gaining 4.82%.
(Updated on May 15, 2024)
The Electra Battery Materials Corporation stock price gained 4.82% on the last trading day (Wednesday, 15th May 2024), rising from $0.464 to $0.487. During the last trading day the stock fluctuated 3.62% from a day low at $0.473 to a day high of $0.490. The price has risen in 6 of the last 10 days and is up by 14.08% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 505 more shares were traded than the day before. In total, 58 thousand shares were bought and sold for approximately $28.08 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 -22.47% during the next 3 months and, with a 90% probability hold a price between $0.276 and $0.431 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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ELBM Signals & Forecast
Mostly positive signals in the chart today. The Electra Battery Materials 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 $0.464 and $0.447. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 21.58%. 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). Electra Battery Materials 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. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Electra Battery Materials Corporation stock
Electra Battery Materials Corporation finds support from accumulated volume at $0.485 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 $0.0171 between high and low, or 3.62%. For the last week, the stock has had daily average volatility of 4.97%.
Our recommended stop-loss: $0.466 (-4.19%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 17 days ago.)
Trading Expectations (ELBM) For The Upcoming Trading Day Of Thursday 16th
For the upcoming trading day on Thursday, 16th we expect Electra Battery Materials Corporation to open at $0.483, and during the day (based on 14 day Average True Range), to move between $0.461 and $0.513, which gives a possible trading interval of +/-$0.0259 (+/-5.32%) up or down from last closing price. If Electra Battery Materials Corporation takes out the full calculated possible swing range there will be an estimated 10.65% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.485 (0.41%) than the resistance at $0.535 (9.90%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Electra Battery Materials Corporation stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 4.653 Buy Candidate Unchanged
Predicted Opening Price for Electra Battery Materials Corporation of Thursday, May 16, 2024
| Fair opening price May 16, 2024 | Current price |
|---|---|
| $0.483 ( 0.733%) | $0.487 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ELBM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.500 | 2.78 % | |
| R2 | 0.494 | 1.44 % | ||
| R1 | 0.490 | 0.609 % | ||
| Current price: | 0.487 | |||
| Support | S1 | 0.477 | -2.07 % | |
| S2 | 0.473 | -2.90 % | ||
| S3 | 0.466 | -4.25 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.569 | 16.95 % | |
| R2 | 0.550 | 12.96 % | ||
| R1 | 0.535 | 9.90 % | ||
| Current price | 0.487 | |||
| Support | S1 | 0.485 | -0.411% | |
| S2 | 0.471 | -3.25% | ||
| S3 | 0.455 | -6.59% |
FAQ
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