Mirage Energy Corporation Stock Forecast
Mirage Energy Corporation stock price fell more than -6.67% Tuesday closing at $0.0140
(Updated on May 07, 2024)
The Mirage Energy Corporation stock price fell by -6.67% on the last day (Tuesday, 7th May 2024) from $0.0150 to $0.0140. During the last trading day the stock fluctuated 0% from a day low at $0.0140 to a day high of $0.0140. The price has been going up and down for this period, and there has been a 26.13% gain for the last 2 weeks. Volume has increased on the last day by 55 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 55 thousand shares were bought and sold for approximately $775.70 .
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.0113 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 33.95% during the next 3 months and, with a 90% probability hold a price between $0.0152 and $0.0360 at the end of this 3-month period.
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MRGE Signals & Forecast
There are few to no technical positive signals at the moment. The Mirage Energy Corporation 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 $0.0147. On a fall, the stock will find some support from the short-term average at $0.0126. 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. A sell signal was issued from a pivot top point on Monday, April 01, 2024, and so far it has fallen -41.67%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Mirage Energy Corporation gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Mirage Energy Corporation stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0130 and $0.0119. 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, Mirage Energy Corporation finds support just below today's level at $0.0130. If this is broken, then the next support from accumulated volume will be at $0.0119 and $0.0110.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0 between high and low, or 0%. For the last week, the stock has had daily average volatility of 14.83%.
Our recommended stop-loss: $0.0133 (-5.20%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 26 days ago.)
Trading Expectations (MRGE) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Mirage Energy Corporation to open at $0.0140, and during the day (based on 14 day Average True Range), to move between $0.0107 and $0.0173, which gives a possible trading interval of +/-$0.0033 (+/-23.64%) up or down from last closing price. If Mirage Energy Corporation takes out the full calculated possible swing range there will be an estimated 47.29% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0148 (5.71%) than the support at $0.0130 (7.14%), 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 Mirage Energy Corporation stock A Buy?
Mirage Energy Corporation holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
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 Mirage Energy Corporation of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $0.0140 ( 0%) | $0.0140 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MRGE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0140 | . | |
| R2 | 0.0140 | . | ||
| R1 | 0.0140 | . | ||
| Current price: | 0.0140 | |||
| Support | S1 | 0.0140 | . | |
| S2 | 0.0140 | . | ||
| S3 | 0.0140 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0.0150 | 7.14 % | ||
| R1 | 0.0148 | 5.71 % | ||
| Current price | 0.0140 | |||
| Support | S1 | 0.0130 | -7.14% | |
| S2 | 0.0119 | -15.00% | ||
| S3 | 0.0110 | -21.43% |
FAQ
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