Emerita Resources Corp. Stock Forecast
Green day on Friday for Emerita Resources Corp.
(Updated on Jun 28, 2024)
The Emerita Resources Corp. stock price gained 3.70% on the last trading day (Friday, 28th Jun 2024), rising from $0.540 to $0.560. During the last trading day the stock fluctuated 3.64% from a day low at $0.550 to a day high of $0.570. The price has been going up and down for this period, and there has been a 0% change for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 276 thousand more shares were traded than the day before. In total, 333 thousand shares were bought and sold for approximately $186.23 thousand.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.533 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 39.58% during the next 3 months and, with a 90% probability hold a price between $0.745 and $1.21 at the end of this 3-month period.
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EMO.V Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Emerita Resources Corp. 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. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Emerita Resources Corp. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $0.619. On a fall, the stock will find some support from the short-term average at $0.546. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Thursday, May 16, 2024, and so far it has fallen -25.33%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Emerita Resources Corp. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.530 and $0.520. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Emerita Resources Corp. finds support just below today's level at $0.530. If this is broken, then the next support from accumulated volume will be at $0.520 and $0.500.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0200 between high and low, or 3.64%. For the last week, the stock has had daily average volatility of 5.19%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EMO.V) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Emerita Resources Corp. to open at $0.560, and during the day (based on 14 day Average True Range), to move between $0.522 and $0.598, which gives a possible trading interval of +/-$0.0382 (+/-6.82%) up or down from last closing price. If Emerita Resources Corp. takes out the full calculated possible swing range there will be an estimated 13.64% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.570 (1.79%) than the support at $0.530 (5.36%), 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 Emerita Resources Corp. stock A Buy?
Emerita Resources 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: -1.535 Sell Candidate Unchanged
Predicted Opening Price for Emerita Resources Corp. of Tuesday, July 2, 2024
Fair opening price July 2, 2024 | Current price |
---|---|
$0.560 ( 0%) | $0.560 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EMO.V
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.580 | 3.57% |
R2 | 0.572 | 2.21% |
R1 | 0.568 | 1.36% |
Price | 0.560 | |
S1 | 0.552 | -1.36% |
S2 | 0.548 | -2.21% |
S3 | 0.540 | -3.57% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.600 | 7.14% |
R2 | 0.590 | 5.36% |
R1 | 0.570 | 1.79% |
Price | 0.560 | |
S1 | 0.530 | -5.36% |
S2 | 0.520 | -7.14% |
S3 | 0.500 | -10.71% |
FAQ
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