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RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of ERD.TO
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Evaluation of Erdene Resource Development Corporation stock downgraded after the last trading session.
(Updated on Jun 24, 2024)

Sell candidate since Jun 24, 2024 PDF

No changes to the price of Erdene Resource Development Corporation stock on the last trading day (Monday, 24th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at $0.410 to a day high of $0.410. The price has fallen in 5 of the last 10 days and is down by -8.89% for this period.

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 $0.407 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 14.42% during the next 3 months and, with a 90% probability hold a price between $0.466 and $0.585 at the end of this 3-month period.

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ERD.TO Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, June 20, 2024, and so far it has risen 1.23%. 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 Erdene Resource Development Corporation 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 $0.418 and $0.438. 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 Erdene Resource Development Corporation stock

Erdene Resource Development Corporation finds support from accumulated volume at $0.405 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 3.94%

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

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

For the upcoming trading day on Tuesday, 25th we expect Erdene Resource Development Corporation to open at $0.410, and during the day (based on 14 day Average True Range), to move between $0.392 and $0.428, which gives a possible trading interval of +/-$0.0177 (+/-4.33%) up or down from last closing price. If Erdene Resource Development Corporation takes out the full calculated possible swing range there will be an estimated 8.65% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.405 (1.22%) than the resistance at $0.430 (4.88%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Erdene Resource Development Corporation stock A Buy?

The Erdene Resource Development Corporation stock holds several negative signals and despite the positive trend, we believe Erdene Resource Development Corporation will perform weakly in the next couple of days or weeks. Therefore, we 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: -1.919 Sell Candidate Downgraded

Predicted Opening Price for Erdene Resource Development Corporation of Tuesday, June 25, 2024

Fair opening price June 25, 2024 Current price
$0.410 ( 0%) $0.410

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

Trading levels for ERD.TO

Fibonacci Support & Resistance Levels

Level Price
R3 0.410 -
R2 0.410 -
R1 0.410 -
Price 0.410
S1 0.410 -
S2 0.410 -
S3 0.410 -

Accumulated Volume Support & Resistance Levels

Level Price
R3 0.480 17.07%
R2 0.470 14.63%
R1 0.430 4.88%
Price 0.410
S1 0.405 -1.22%
S2 0.400 -2.44%
S3 0.390 -4.88%

FAQ

What is the symbol for Erdene Resource Development Corporation Stock and on which exchange is it traded?
The symbol for Erdene Resource Development Corporation is ERD.TO and it is traded on the TSX (Toronto Stock Exchange).

Should I buy or sell Erdene Resource Development Corporation Stock?
The Erdene Resource Development Corporation stock holds several negative signals and despite the positive trend, we believe Erdene Resource Development Corporation will perform weakly in the next couple of days or weeks. Therefore, we 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.

How to buy Erdene Resource Development Corporation Stock?
Erdene Resource Development Corporation Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Erdene Resource Development Corporation Stock.

What's the current price of Erdene Resource Development Corporation Stock?
As of the end of day on the Jun 24, 2024, the price of an Erdene Resource Development Corporation (ERD.TO) share was $0.410.

What is the 52-week high and low for Erdene Resource Development Corporation Stock?
The 52-week high for Erdene Resource Development Corporation Stock is $0.520 and the 52-week low is $0.265.

What is the market capitalization of Erdene Resource Development Corporation Stock?
As of the Jun 24, 2024, the market capitalization of Erdene Resource Development Corporation is 142.074M.

When is the next earnings date for Erdene Resource Development Corporation?
The upcoming earnings date for Erdene Resource Development Corporation is Jul 31, 2024.
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About Erdene Resource Development Corporation

Erdene Resource Development Erdene Resource Development Corporation focuses on the acquisition, exploration, and development of precious and base mineral deposits in Mongolia. It explores for copper, molybdenum, gold, silver, lead, and zinc deposits. The company principally holds a 100% interest in the Bayan Khundii Gold Project comprising 2,309 hectares located in the Bayankhongor province in Mongolia; and the Altan Nar Gold-Polymetallic project located in located in the B... ERD.TO Profile

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