Emu NL Stock Forecast

Emu NL stock price down 3.57% on Thursday
(Updated on Jun 27, 2024)

EMU.AX Signals & Forecast

There are few to no technical positive signals at the moment. The Emu NL 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 A$0.0270 and A$0.0292. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 21, 2024, and so far it has fallen -22.86%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Emu NL stock

Emu NL finds support from accumulated volume at A$0.0266 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved A$0.0010 between high and low, or 3.85%. For the last week the stock has had daily average volatility of 6.93%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (EMU.AX) For The Upcoming Trading Day Of Friday 28th

For the upcoming trading day on Friday, 28th we expect Emu NL to open at A$0.0267, and during the day (based on 14 day Average True Range), to move between A$0.0239 and A$0.0301, which gives a possible trading interval of +/-A$0.0031 (+/-11.31%) up or down from last closing price. If Emu NL takes out the full calculated possible swing range there will be an estimated 22.62% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at A$0.0266 (1.40%) than the resistance at A$0.0290 (7.41%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Emu NL stock A Buy?

The Emu NL stock holds several negative signals and despite the positive trend, we believe Emu NL will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -3.510 Sell Candidate Unchanged

Predicted Opening Price for Emu NL of Friday, June 28, 2024

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