Forum Energy Metals Corp. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Strong day for Forum Energy Metals Corp. stock price on Monday rising 6.57% to $0.0925
(Updated on Apr 15, 2024)
The Forum Energy Metals Corp. stock price gained 6.57% on the last trading day (Monday, 15th Apr 2024), rising from $0.0868 to $0.0925. During the last trading day the stock fluctuated 5.44% from a day low at $0.0900 to a day high of $0.0949. The price has risen in 6 of the last 10 days and is up by 10.12% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 41 thousand more shares were traded than the day before. In total, 54 thousand shares were bought and sold for approximately $4.95 thousand.
Given the current short-term trend, the stock is expected to fall -25.92% during the next 3 months and, with a 90% probability hold a price between $0.0580 and $0.0685 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
FDCFF Signals & Forecast
Mostly positive signals in the chart today. The Forum Energy Metals Corp. 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 $0.0900 and $0.0905. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, March 28, 2024, and so far it has risen 10.12%. 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). Forum Energy Metals Corp. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Forum Energy Metals Corp. stock
Forum Energy Metals Corp. finds support from accumulated volume at $0.0919 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 $0.0049 between high and low, or 5.44%. For the last week, the stock has had daily average volatility of 6.87%.
Our recommended stop-loss: $0.0887 (-4.08%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (FDCFF) For The Upcoming Trading Day Of Tuesday 16th
For the upcoming trading day on Tuesday, 16th we expect Forum Energy Metals Corp. to open at $0.0925, and during the day (based on 14 day Average True Range), to move between $0.0847 and $0.100, which gives a possible trading interval of +/-$0.0078 (+/-8.48%) up or down from last closing price. If Forum Energy Metals Corp. takes out the full calculated possible swing range there will be an estimated 16.95% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0919 (0.65%) than the resistance at $0.108 (17.08%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Forum Energy Metals Corp. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.814 Buy Candidate Upgraded
Predicted Opening Price for Forum Energy Metals Corp. of Tuesday, April 16, 2024
| Fair opening price April 16, 2024 | Current price |
|---|---|
| $0.0925 ( 0.0360%) | $0.0925 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FDCFF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0974 | 5.26 % | |
| R2 | 0.0955 | 3.24 % | ||
| R1 | 0.0943 | 1.99 % | ||
| Current price: | 0.0925 | |||
| Support | S1 | 0.0906 | -2.06 % | |
| S2 | 0.0894 | -3.31 % | ||
| S3 | 0.0876 | -5.33 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.115 | 24.32 % | |
| R2 | 0.112 | 21.21 % | ||
| R1 | 0.108 | 17.08 % | ||
| Current price | 0.0925 | |||
| Support | S1 | 0.0919 | -0.649% | |
| S2 | 0.0850 | -8.11% | ||
| S3 | 0.0840 | -9.19% |
FAQ
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