Prairie Provident Resources Inc. Stock Forecast
Prairie Provident Resources Inc. stock price ended at $0.0550 on Friday, after losing 0%.
(Updated on Jun 28, 2024)
No changes to the price of Prairie Provident Resources Inc. stock on the last trading day (Friday, 28th Jun 2024). During the last trading day the stock fluctuated 10.00% from a day low at $0.0500 to a day high of $0.0550. The price has been going up and down for this period, and there has been a 10% gain for the last 2 weeks.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $0.0588 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -28.24% during the next 3 months and, with a 90% probability hold a price between $0.0277 and $0.0422 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.
PPR.TO Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 07, 2024, and so far it has risen 10.00%. Further rise is indicated until a new top pivot has been found. 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 Prairie Provident Resources Inc. 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 $0.0551. On a fall, the stock will find some support from the short-term average at $0.0529. 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. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
A buy signal from a double bottom formation was found on Friday, June 07, 2024 and based on theory for this formation the price should go up by 25.00% to $0.0688 within 16 trading days since signal was issued (Tuesday, July 02, 2024).
Support, Risk & Stop-loss for Prairie Provident Resources Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0500. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the stock price.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0050 between high and low, or 10.00%. For the last week the stock has had daily average volatility of 10.44%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PPR.TO) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Prairie Provident Resources Inc. to open at $0.0533, and during the day (based on 14 day Average True Range), to move between $0.0499 and $0.0601, which gives a possible trading interval of +/-$0.0051 (+/-9.32%) up or down from last closing price. If Prairie Provident Resources Inc. takes out the full calculated possible swing range there will be an estimated 18.64% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0600 (9.09%) than the support at $0.0500 (9.09%), 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 Prairie Provident Resources Inc. stock A Buy?
Prairie Provident Resources Inc. 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: -1.855 Sell Candidate Unchanged
Predicted Opening Price for Prairie Provident Resources Inc. of Tuesday, July 2, 2024
| Fair opening price July 2, 2024 | Current price |
|---|---|
| $0.0533 ( 3.03%) | $0.0550 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PPR.TO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0583 | 6.06% |
| R2 | 0.0564 | 2.59% |
| R1 | 0.0552 | 0.442% |
| Price | 0.0550 | |
| S1 | 0.0514 | -6.50% |
| S2 | 0.0502 | -8.65% |
| S3 | 0.0483 | -12.12% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0.0650 | 18.18% |
| R1 | 0.0600 | 9.09% |
| Price | 0.0550 | |
| S1 | 0.0500 | -9.09% |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
Click here for our free guide on how to buy Prairie Provident Resources Inc. Stock.
