Surge Battery Metals Inc. Stock Forecast
A very red day for Surge Battery Metals Inc. stock price after a -6.02% fall in the Tuesday trading session
(Updated on Jun 25, 2024)
The Surge Battery Metals Inc. stock price fell by -6.02% on the last day (Tuesday, 25th Jun 2024) from $0.266 to $0.250. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 6.17% from a day low at $0.250 to a day high of $0.265. The price has fallen in 6 of the last 10 days and is down by -15.74% for this period. Volume has increased on the last day by 24 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, 59 thousand shares were bought and sold for approximately $14.70 thousand.
The stock has broken the very wide and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point ($0.253) are considered to be a "second chance" to get out. According to the fan-theory $0.144 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
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NILIF 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 Surge Battery Metals Inc. 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 $0.271 and $0.297. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 21, 2024, and so far it has fallen -33.33%. Further fall is indicated until a new bottom pivot has been found. Surge Battery Metals Inc. 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 Surge Battery Metals Inc. 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0154 between high and low, or 6.17%. For the last week, the stock has had daily average volatility of 7.18%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NILIF) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Surge Battery Metals Inc. to open at $0.255, and during the day (based on 14 day Average True Range), to move between $0.231 and $0.269, which gives a possible trading interval of +/-$0.0187 (+/-7.49%) up or down from last closing price. If Surge Battery Metals Inc. takes out the full calculated possible swing range there will be an estimated 14.98% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.272, some $0.0217 (8.68%) from the current price of $0.250, our system finds the risk reward not very attractive.
Is Surge Battery Metals Inc. stock A Buy?
Surge Battery Metals Inc. 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: -7.081 Strong Sell Candidate Unchanged
Predicted Opening Price for Surge Battery Metals Inc. of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $0.255 ( 1.95%) | $0.250 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NILIF
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.270 | 8.11% |
| R2 | 0.264 | 5.75% |
| R1 | 0.261 | 4.30% |
| Price | 0.250 | |
| S1 | 0.249 | -0.406% |
| S2 | 0.245 | -1.86% |
| S3 | 0.239 | -4.21% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.290 | 16.00% |
| R2 | 0.289 | 15.44% |
| R1 | 0.272 | 8.68% |
| Price | 0.250 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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