Chakana Copper Corp. Stock Forecast

Chakana Copper Corp. stock price fell more than -5.56% Friday closing at $0.0850
(Updated on May 31, 2024)

PERU.V Signals & Forecast

There are few to no technical positive signals at the moment. The Chakana Copper Corp. 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 $0.0893 and $0.105. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 10, 2024, and so far it has fallen -37.04%. 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). Chakana Copper Corp. 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 Chakana Copper Corp. stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.0800 and $0.0750. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $0.0750 may give a huge drop in the stock price.

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 $0.0050 between high and low, or 5.88%. For the last week, the stock has had daily average volatility of 4.71%.

Chakana Copper Corp. is oversold on RSI14 (22). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (PERU.V) For The Upcoming Trading Day Of Monday 3rd

For the upcoming trading day on Monday, 3rd we expect Chakana Copper Corp. to open at $0.0867, and during the day (based on 14 day Average True Range), to move between $0.0782 and $0.0918, which gives a possible trading interval of +/-$0.0068 (+/-8.04%) up or down from last closing price. If Chakana Copper Corp. takes out the full calculated possible swing range there will be an estimated 16.07% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0900 (5.88%) than the support at $0.0800 (5.88%), 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 Chakana Copper Corp. stock A Buy?

The Chakana Copper Corp. stock holds several negative signals and despite the positive trend, we believe Chakana Copper Corp. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -3.021 Sell Candidate Unchanged

Predicted Opening Price for Chakana Copper Corp. of Monday, June 3, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.