EnviroMetal Technologies Inc. Stock Forecast

EnviroMetal Technologies Inc. stock downgraded to Sell Candidate
(Updated on Jun 17, 2024)

EVLLF Signals & Forecast

The EnviroMetal Technologies Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.0153 and $0.0170. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, June 14, 2024, and so far it has fallen 0%. 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 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.

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Friday, May 10, 2024 and based on theory for this formation the price should fall by -20.21% to $0.0150 within 12 trading days since signal was issued (Tuesday, June 18, 2024).

Support, Risk & Stop-loss for EnviroMetal Technologies Inc. stock

EnviroMetal Technologies Inc. finds support from accumulated volume at $0.0185 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 0%

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

Trading Expectations (EVLLF) For The Upcoming Trading Day Of Tuesday 18th

For the upcoming trading day on Tuesday, 18th we expect EnviroMetal Technologies Inc. to open at $0.0188, and during the day (based on 14 day Average True Range), to move between $0.0170 and $0.0206, which gives a possible trading interval of +/-$0.0018 (+/-9.54%) up or down from last closing price. If EnviroMetal Technologies Inc. takes out the full calculated possible swing range there will be an estimated 19.08% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0190 (1.06%) than the support at $0.0185 (1.60%), 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 EnviroMetal Technologies Inc. stock A Buy?

EnviroMetal Technologies Inc. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, 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: -1.589 Sell Candidate Downgraded

Predicted Opening Price for EnviroMetal Technologies Inc. of Tuesday, June 18, 2024

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