Kootenay Silver Inc Stock Forecast
Kootenay Silver Inc stock upgraded to Buy Candidate.
(Updated on May 10, 2024)
No changes to the price of Kootenay Silver Inc stock on the last trading day (Friday, 10th May 2024). During the last trading day the stock fluctuated 5.13% from a day low at $0.86 to a day high of $0.90. The price has fallen in 4 of the last 10 days but is still up by 7.53% over the past 2 weeks.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 57.15% during the next 3 months and, with a 90% probability hold a price between $1.20 and $1.75 at the end of this 3-month period.
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KOOYF Signals & Forecast
The Kootenay Silver Inc 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 $0.88 and $0.87. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Monday, April 15, 2024, and so far it has fallen -9.00%. Further fall is indicated until a new bottom pivot has been found. 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.
Support, Risk & Stop-loss for Kootenay Silver Inc stock
Kootenay Silver Inc finds support from accumulated volume at $0.90 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 periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0439 between high and low, or 5.13%. For the last week the stock has had daily average volatility of 10.59%.
Our recommended stop-loss: $0.86 (-4.04%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 19 days ago.)
Trading Expectations (KOOYF) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Kootenay Silver Inc to open at $0.89, and during the day (based on 14 day Average True Range), to move between $0.81 and $0.99, which gives a possible trading interval of +/-$0.0942 (+/-10.47%) up or down from last closing price. If Kootenay Silver Inc takes out the full calculated possible swing range there will be an estimated 20.94% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.90 (0.11%) than the resistance at $0.94 (4.44%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Kootenay Silver Inc will release earnings BMO on Wednesday, May 15, 2024. We will update the financials statements for Kootenay Silver Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 15.24% in the first trading day after earnings release.
Is Kootenay Silver Inc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Kootenay Silver Inc stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.182 Buy Candidate Upgraded
Predicted Opening Price for Kootenay Silver Inc of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| $0.89 ( 1.63%) | $0.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KOOYF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.93 | 3.25 % | |
| R2 | 0.91 | 1.39 % | ||
| R1 | 0.90 | 0.237 % | ||
| Current price: | 0.90 | |||
| Support | S1 | 0.87 | -3.49 % | |
| S2 | 0.86 | -4.64 % | ||
| S3 | 0.84 | -6.50 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.96 | 6.67 % | |
| R2 | 0.95 | 5.42 % | ||
| R1 | 0.94 | 4.44 % | ||
| Current price | 0.90 | |||
| Support | S1 | 0.90 | -0.111% | |
| S2 | 0.89 | -1.11% | ||
| S3 | 0.86 | -4.44% |
FAQ
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