European Metals Holdings Limited Stock Forecast
A very strong day for European Metals Holdings Limited stock price on Friday
(Updated on Apr 26, 2024)
The European Metals Holdings Limited stock price gained 9.83% on the last trading day (Friday, 26th Apr 2024), rising from $0.231 to $0.254. During the last trading day the stock fluctuated 6.17% from a day low at $0.254 to a day high of $0.269. The price has risen in 4 of the last 10 days and is up by 18% over the past 2 weeks. Volume fell on the last day by -3 thousand shares and in total, 7 thousand shares were bought and sold for approximately $1.71 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock has broken the very wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $0.242, a level that may pose a second chance to hit a runner. According to fan-theory $0.312 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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ERPNF Signals & Forecast
The European Metals Holdings Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.245 and $0.200. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 09, 2024, and so far it has risen 53.76%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for European Metals Holdings Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.213 and $0.205. 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, European Metals Holdings Limited finds support just below today's level at $0.213. If this is broken, then the next support from accumulated volume will be at $0.205 and $0.200.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0157 between high and low, or 6.17%. For the last week the stock has had daily average volatility of 2.59%.
Our recommended stop-loss: $0.246 (-3.14%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (ERPNF) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect European Metals Holdings Limited to open at $0.259, and during the day (based on 14 day Average True Range), to move between $0.238 and $0.269, which gives a possible trading interval of +/-$0.0157 (+/-6.20%) up or down from last closing price. If European Metals Holdings Limited takes out the full calculated possible swing range there will be an estimated 12.40% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $0.213, some $0.0405 (15.94%) from the current price of $0.254, our system finds the risk reward attractive.
Is European Metals Holdings Limited stock A Buy?
Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for European Metals Holdings Limited stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.
Current score: 6.620 Strong Buy Candidate Upgraded
Predicted Opening Price for European Metals Holdings Limited of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $0.259 ( 2.06%) | $0.254 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ERPNF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.275 | 8.22 % | |
| R2 | 0.269 | 5.87 % | ||
| R1 | 0.265 | 4.41 % | ||
| Current price: | 0.254 | |||
| Support | S1 | 0.253 | -0.300 % | |
| S2 | 0.249 | -1.76 % | ||
| S3 | 0.243 | -4.11 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 0.254 | |||
| Support | S1 | 0.213 | -15.94% | |
| S2 | 0.205 | -19.29% | ||
| S3 | 0.200 | -21.17% |
FAQ
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