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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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Erdene Resource Development Corporation stock upgraded from Strong Sell Candidate to Sell Candidate after Friday trading session.
(Updated on Jun 14, 2024)

Sell candidate since Jun 12, 2024 Loss -1.15% PDF

No changes to the price of Erdene Resource Development Corporation stock on the last trading day (Friday, 14th Jun 2024). During the last trading day the stock fluctuated 2.96% from a day low at $0.423 to a day high of $0.435. The price has fallen in 6 of the last 10 days and is down by -13.13% for this period.

The stock lies in the lower part of a 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 $0.430 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 18.11% during the next 3 months and, with a 90% probability hold a price between $0.508 and $0.599 at the end of this 3-month period.

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ERD.TO Signals & Forecast

Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". The very low volume increases the risk and reduces the other technical signals issued. 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. On corrections up, there will be some resistance from the lines at $0.442 and $0.437. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 31, 2024, and so far it has fallen -13.13%. 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).

Support, Risk & Stop-loss for Erdene Resource Development Corporation stock

Erdene Resource Development Corporation finds support from accumulated volume at $0.410 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0125 between high and low, or 2.96%. For the last week, the stock has had daily average volatility of 3.84%.

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 Monday 17th

For the upcoming trading day on Monday, 17th we expect Erdene Resource Development Corporation to open at $0.429, and during the day (based on 14 day Average True Range), to move between $0.411 and $0.449, which gives a possible trading interval of +/-$0.0191 (+/-4.44%) 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 8.87% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.410 (4.65%) than the resistance at $0.460 (6.98%), 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.

Current score: -4.079 Sell Candidate Upgraded

Predicted Opening Price for Erdene Resource Development Corporation of Monday, June 17, 2024

Fair opening price June 17, 2024 Current price
$0.429 ( 0.194%) $0.430

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 0.442 2.71%
R2 0.437 1.60%
R1 0.434 0.92%
Price 0.430
S1 0.424 -1.30%
S2 0.421 -1.99%
S3 0.417 -3.10%

Accumulated Volume Support & Resistance Levels

Level Price
R3 0.480 11.63%
R2 0.470 9.30%
R1 0.460 6.98%
Price 0.430
S1 0.410 -4.65%
S2 0.405 -5.81%
S3 0.395 -8.14%

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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell 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 14, 2024, the price of an Erdene Resource Development Corporation (ERD.TO) share was $0.430.

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 14, 2024, the market capitalization of Erdene Resource Development Corporation is 149.005M.

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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