Eastern Platinum Limited Stock Forecast

Eastern Platinum Limited stock upgraded to Buy Candidate.
(Updated on Jun 24, 2024)

ELR.TO Signals & Forecast

The Eastern Platinum Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $0.234. On a fall, the stock will find some support from the long-term average at approximately $0.229. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Friday, June 21, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 Eastern Platinum Limited stock

Eastern Platinum Limited finds support from accumulated volume at $0.225 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 25.70%

Our recommended stop-loss: $0.216 (-6.00%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 16 days ago.)

Trading Expectations (ELR.TO) For The Upcoming Trading Day Of Tuesday 25th

For the upcoming trading day on Tuesday, 25th we expect Eastern Platinum Limited to open at $0.230, and during the day (based on 14 day Average True Range), to move between $0.205 and $0.255, which gives a possible trading interval of +/-$0.0250 (+/-10.85%) up or down from last closing price. If Eastern Platinum Limited takes out the full calculated possible swing range there will be an estimated 21.70% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.235 (2.17%) than the support at $0.225 (2.17%), 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 Eastern Platinum Limited stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Eastern Platinum Limited stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 4.408 Buy Candidate Upgraded

Predicted Opening Price for Eastern Platinum Limited of Tuesday, June 25, 2024

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