Emerita Resources Corp. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
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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