First Energy Metals Limited 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 First Energy Metals Limited stock price on Friday rising 13.64% to $0.125
(Updated on Jun 14, 2024)
The First Energy Metals Limited stock price gained 13.64% on the last trading day (Friday, 14th Jun 2024), rising from $0.110 to $0.125. During the last trading day the stock fluctuated 0% from a day low at $0.125 to a day high of $0.125. The price has fallen in 4 of the last 10 days and is down by -10.71% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 thousand more shares were traded than the day before. In total, 11 thousand shares were bought and sold for approximately $1.38 thousand.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $0.124, a level that may pose a second chance to hit a runner. According to fan-theory $0.159 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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FE.CN Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). First Energy Metals Limited 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The First Energy Metals Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $0.137. On a fall, the stock will find some support from the short-term average at $0.119. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Friday, May 31, 2024, and so far it has fallen -10.71%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for First Energy Metals Limited stock
First Energy Metals Limited finds support from accumulated volume at $0.120 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". 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 12.45%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FE.CN) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect First Energy Metals Limited to open at $0.125, and during the day (based on 14 day Average True Range), to move between $0.109 and $0.141, which gives a possible trading interval of +/-$0.0161 (+/-12.85%) up or down from last closing price. If First Energy Metals Limited takes out the full calculated possible swing range there will be an estimated 25.70% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.120 (4.00%) than the resistance at $0.135 (8.00%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is First Energy Metals Limited stock A Buy?
First Energy Metals Limited 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: -3.096 Sell Candidate Downgraded
Predicted Opening Price for First Energy Metals Limited of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| $0.125 ( 0%) | $0.125 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FE.CN
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.125 | - |
| R2 | 0.125 | - |
| R1 | 0.125 | - |
| Price | 0.125 | |
| S1 | 0.125 | - |
| S2 | 0.125 | - |
| S3 | 0.125 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.150 | 20.00% |
| R2 | 0.140 | 12.00% |
| R1 | 0.135 | 8.00% |
| Price | 0.125 | |
| S1 | 0.120 | -4.00% |
| S2 | 0.115 | -8.00% |
| S3 | 0.110 | -12.00% |
FAQ
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