Manganese X Energy Corp. Stock Forecast
Manganese X Energy Corp. stock price ended at $0.0563 on Friday, after gaining 2.36%.
(Updated on May 17, 2024)
The Manganese X Energy Corp. stock price gained 2.36% on the last trading day (Friday, 17th May 2024), rising from $0.0550 to $0.0563. During the last trading day the stock fluctuated 9.58% from a day low at $0.0536 to a day high of $0.0587. The price has been going up and down for this period, and there has been a -6.09% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 195 thousand more shares were traded than the day before. In total, 202 thousand shares were bought and sold for approximately $11.38 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -33.06% during the next 3 months and, with a 90% probability hold a price between $0.0335 and $0.0424 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
MNXXF Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 15, 2024, and so far it has risen 10.39%. Further rise is indicated until a new top pivot has been found. Manganese X Energy Corp. 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 Manganese X Energy 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 $0.0623. On a fall, the stock will find some support from the short-term average at $0.0551. 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).
Support, Risk & Stop-loss for Manganese X Energy Corp. stock
Manganese X Energy Corp. finds support from accumulated volume at $0.0561 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 $0.0051 between high and low, or 9.58%. For the last week, the stock has had daily average volatility of 11.79%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MNXXF) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Manganese X Energy Corp. to open at $0.0562, and during the day (based on 14 day Average True Range), to move between $0.0510 and $0.0616, which gives a possible trading interval of +/-$0.0053 (+/-9.50%) up or down from last closing price. If Manganese X Energy Corp. takes out the full calculated possible swing range there will be an estimated 19.00% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0561 (0.36%) than the resistance at $0.0649 (15.28%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Manganese X Energy Corp. stock A Buy?
Manganese X Energy 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.
Current score: -1.212 Sell Candidate Unchanged
Predicted Opening Price for Manganese X Energy Corp. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.0562 ( 0.219%) | $0.0563 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MNXXF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0613 | 8.89 % | |
| R2 | 0.0593 | 5.41 % | ||
| R1 | 0.0581 | 3.26 % | ||
| Current price: | 0.0563 | |||
| Support | S1 | 0.0542 | -3.70 % | |
| S2 | 0.0530 | -5.85 % | ||
| S3 | 0.0510 | -9.33 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0697 | 23.80 % | |
| R2 | 0.0650 | 15.45 % | ||
| R1 | 0.0649 | 15.28 % | ||
| Current price | 0.0563 | |||
| Support | S1 | 0.0561 | -0.355% | |
| S2 | 0.0552 | -1.95% | ||
| S3 | 0.0551 | -2.13% |
FAQ
Click here for our free guide on how to buy Manganese X Energy Corp. Stock.
