Emmerson Resources Limited Stock Forecast

Red day on Friday for Emmerson Resources Limited
(Updated on May 31, 2024)

ERM.AX Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, May 30, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. 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 Emmerson Resources Limited 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 $0.0497 and $0.0493. 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).

Support, Risk & Stop-loss for Emmerson Resources Limited stock

Emmerson Resources Limited finds support from accumulated volume at $0.0470 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 $0.0010 between high and low, or 2.08%. For the last week, the stock has had daily average volatility of 2.87%.

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

Trading Expectations (ERM.AX) For The Upcoming Trading Day Of Monday 3rd

For the upcoming trading day on Monday, 3rd we expect Emmerson Resources Limited to open at $0.0483, and during the day (based on 14 day Average True Range), to move between $0.0463 and $0.0497, which gives a possible trading interval of +/-$0.0017 (+/-3.57%) up or down from last closing price. If Emmerson Resources Limited takes out the full calculated possible swing range there will be an estimated 7.15% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0490 (2.08%) than the support at $0.0470 (2.08%), 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 Emmerson Resources Limited stock A Buy?

Emmerson Resources Limited holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

Current score: -1.677 Sell Candidate Unchanged

Predicted Opening Price for Emmerson Resources Limited of Monday, June 3, 2024

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