Elemental Royalties Corp. Stock Forecast
Red day on Friday for Elemental Royalties Corp.
(Updated on Jun 28, 2024)
No changes to the price of Elemental Royalties Corp. stock on the last trading day (Friday, 28th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at $0.786 to a day high of $0.786. The price has risen in 5 of the last 10 days but is still down by -5.87% for this period.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.779 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -8.05% during the next 3 months and, with a 90% probability hold a price between $0.717 and $0.82 at the end of this 3-month period.
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ELEMF Signals & Forecast
There are mixed signals in the stock today. The Elemental Royalties 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 $0.795 and $0.84. A break-up above any of these levels will issue buy signals. 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. A buy signal was issued from a pivot bottom point on Wednesday, June 26, 2024, and so far it has risen 0.512%. 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).
Support, Risk & Stop-loss for Elemental Royalties Corp. stock
Elemental Royalties Corp. finds support from accumulated volume at $0.782 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 1.36%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ELEMF) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Elemental Royalties Corp. to open at $0.786, and during the day (based on 14 day Average True Range), to move between $0.770 and $0.80, which gives a possible trading interval of +/-$0.0156 (+/-1.98%) up or down from last closing price. If Elemental Royalties Corp. takes out the full calculated possible swing range there will be an estimated 3.96% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.782 (0.51%) than the resistance at $0.87 (11.02%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Elemental Royalties Corp. stock A Buy?
Elemental Royalties Corp. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -3.348 Sell Candidate Unchanged
Predicted Opening Price for Elemental Royalties Corp. of Monday, July 1, 2024
Fair opening price July 1, 2024 | Current price |
---|---|
$0.786 ( 0%) | $0.786 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ELEMF
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.786 | - |
R2 | 0.786 | - |
R1 | 0.786 | - |
Price | 0.786 | |
S1 | 0.786 | - |
S2 | 0.786 | - |
S3 | 0.786 | - |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.92 | 17.67% |
R2 | 0.88 | 11.96% |
R1 | 0.87 | 11.02% |
Price | 0.786 | |
S1 | 0.782 | -0.509% |
S2 | 0 | - |
S3 | 0 | - |
FAQ
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