Mega Uranium Ltd. Stock Forecast
Mega Uranium Ltd. stock price ended at $0.310 on Tuesday, after losing 3.13%.
(Updated on Jul 02, 2024)
The Mega Uranium Ltd. stock price fell by -3.13% on the last day (Tuesday, 2nd Jul 2024) from $0.320 to $0.310. During the last trading day the stock fluctuated 4.84% from a day low at $0.310 to a day high of $0.325. The price has fallen in 7 of the last 10 days and is down by -7.46% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -387 thousand shares and in total, 150 thousand shares were bought and sold for approximately $46.45 thousand.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.301 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -15.75% during the next 3 months and, with a 90% probability hold a price between $0.254 and $0.324 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
MGA.TO Signals & Forecast
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. The Mega Uranium Ltd. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.321 and $0.363. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 30, 2024, and so far it has fallen -24.39%. Further fall is indicated until a new bottom pivot has been found. 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 Mega Uranium Ltd. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0150 between high and low, or 4.84%. For the last week the stock has had daily average volatility of 4.78%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MGA.TO) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Mega Uranium Ltd. to open at $0.315, and during the day (based on 14 day Average True Range), to move between $0.292 and $0.328, which gives a possible trading interval of +/-$0.0182 (+/-5.87%) up or down from last closing price. If Mega Uranium Ltd. takes out the full calculated possible swing range there will be an estimated 11.74% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.370, some $0.0600 (19.35%) from the current price of $0.310, our system finds the risk reward not very attractive.
Is Mega Uranium Ltd. stock A Buy?
Mega Uranium Ltd. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -4.569 Sell Candidate Unchanged
Predicted Opening Price for Mega Uranium Ltd. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $0.315 ( 1.61%) | $0.310 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MGA.TO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.330 | 6.45% |
| R2 | 0.324 | 4.60% |
| R1 | 0.321 | 3.46% |
| Price | 0.310 | |
| S1 | 0.309 | -0.235% |
| S2 | 0.306 | -1.38% |
| S3 | 0.300 | -3.23% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.380 | 22.58% |
| R2 | 0.375 | 20.97% |
| R1 | 0.370 | 19.35% |
| Price | 0.310 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
MGA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 03, 2007 | Dec 03, 2007 | Dec 03, 2007 | $0.360 | 9.86% |
FAQ
Click here for our free guide on how to buy Mega Uranium Ltd. Stock.
