IsoEnergy Ltd. Stock Forecast
Volatile ride for IsoEnergy Ltd. stock price on Friday moving between $3.97 and $4.38
(Updated on May 17, 2024)
The IsoEnergy Ltd. stock price gained 7.35% on the last trading day (Friday, 17th May 2024), rising from $4.08 to $4.38. During the last trading day the stock fluctuated 10.33% from a day low at $3.97 to a day high of $4.38. The price has risen in 7 of the last 10 days and is up by 10.89% 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, 401 thousand more shares were traded than the day before. In total, 401 thousand shares were bought and sold for approximately $1.76 million.
The stock has broken the wide and horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. $4.32 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach $4.97 sometime during the next 3 months.
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ISO.V Signals & Forecast
The IsoEnergy Ltd. 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 $4.09 and $4.00. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 24, 2024, and so far it has risen 17.74%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for IsoEnergy Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at $4.11 and $4.09. 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, IsoEnergy Ltd. finds support just below today's level at $4.11. If this is broken, then the next support from accumulated volume will be at $4.09 and $3.72.
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 $0.410 between high and low, or 10.33%. For the last week, the stock has had daily average volatility of 4.08%.
Our recommended stop-loss: $4.17 (-4.72%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 17 days ago.)
Trading Expectations (ISO.V) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect IsoEnergy Ltd. to open at $4.24, and during the day (based on 14 day Average True Range), to move between $4.19 and $4.57, which gives a possible trading interval of +/-$0.189 (+/-4.32%) up or down from last closing price. If IsoEnergy Ltd. takes out the full calculated possible swing range there will be an estimated 8.64% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $4.11, some $0.270 (6.16%) from the current price of $4.38, our system finds the risk reward attractive.
Is IsoEnergy Ltd. stock A Buy?
IsoEnergy Ltd. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for IsoEnergy Ltd. of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| $4.24 ( 3.12%) | $4.38 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ISO.V
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.65 | 6.24 % | |
| R2 | 4.50 | 2.66 % | ||
| R1 | 4.40 | 0.456 % | ||
| Current price: | 4.38 | |||
| Support | S1 | 4.09 | -6.70 % | |
| S2 | 3.99 | -8.91 % | ||
| S3 | 3.83 | -12.48 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 4.38 | |||
| Support | S1 | 4.11 | -6.16% | |
| S2 | 4.09 | -6.62% | ||
| S3 | 3.72 | -15.07% |
FAQ
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