Elevate Uranium Ltd Stock Forecast
Weaker technical forecast for Elevate Uranium Ltd as stock downgraded to Sell Candidate.
(Updated on Jun 25, 2024)
No changes to the price of Elevate Uranium Ltd stock on the last trading day (Tuesday, 25th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at $0.275 to a day high of $0.275. The price has been going up and down for this period, and there has been a -20.29% loss for the last 2 weeks.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.275 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -2.30% during the next 3 months and, with a 90% probability hold a price between $0.269 and $0.373 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
ELVUF Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 24, 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. The Elevate Uranium Ltd 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 $0.292 and $0.337. A break-up above any of these levels will issue buy signals. 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 Elevate Uranium Ltd stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 0%
Elevate Uranium Ltd is oversold on RSI14 (22). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ELVUF) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Elevate Uranium Ltd to open at $0.275, and during the day (based on 14 day Average True Range), to move between $0.263 and $0.287, which gives a possible trading interval of +/-$0.0119 (+/-4.34%) up or down from last closing price. If Elevate Uranium Ltd takes out the full calculated possible swing range there will be an estimated 8.67% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.310, some $0.0350 (12.73%) from the current price of $0.275, our system finds the risk reward not very attractive.
Is Elevate Uranium Ltd stock A Buy?
Elevate Uranium Ltd holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore 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: -2.476 Sell Candidate Downgraded
Predicted Opening Price for Elevate Uranium Ltd of Wednesday, June 26, 2024
Fair opening price June 26, 2024 | Current price |
---|---|
$0.275 ( 0%) | $0.275 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ELVUF
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.275 | - |
R2 | 0.275 | - |
R1 | 0.275 | - |
Price | 0.275 | |
S1 | 0.275 | - |
S2 | 0.275 | - |
S3 | 0.275 | - |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.343 | 24.84% |
R2 | 0.340 | 23.64% |
R1 | 0.310 | 12.73% |
Price | 0.275 | |
S1 | 0 | - |
S2 | 0 | - |
S3 | 0 | - |
FAQ
Click here for our free guide on how to buy Elevate Uranium Ltd Stock.