Adamas One Corp. Stock Forecast

Big movements in Adamas One Corp. stock price on Wednesday moving 16.01% between high and low
(Updated on May 08, 2024)

JEWL Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, April 29, 2024, and so far it has risen 4.57%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Adamas One Corp. 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 $0.348. On a fall, the stock will find some support from the short-term average at $0.292. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Adamas One Corp. stock

Adamas One Corp. finds support from accumulated volume at $0.286 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 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 $0.0469 between high and low, or 16.01%. For the last week the stock has had daily average volatility of 12.85%.

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

Trading Expectations (JEWL) For The Upcoming Trading Day Of Thursday 9th

For the upcoming trading day on Thursday, 9th we expect Adamas One Corp. to open at $0.309, and during the day (based on 14 day Average True Range), to move between $0.249 and $0.337, which gives a possible trading interval of +/-$0.0438 (+/-14.96%) up or down from last closing price. If Adamas One Corp. takes out the full calculated possible swing range there will be an estimated 29.93% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.300 (2.39%) than the support at $0.286 (2.56%), 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 Adamas One Corp. stock A Buy?

Adamas One Corp. 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 Sell to a Strong Sell candidate.

Current score: -5.184 Strong Sell Candidate Downgraded

Predicted Opening Price for Adamas One Corp. of Thursday, May 9, 2024

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