Prospect Ridge Resources Corp. Stock Forecast
Prospect Ridge Resources Corp. stock price down 0% on Friday
(Updated on Jun 14, 2024)
No changes to the price of Prospect Ridge Resources Corp. stock on the last trading day (Friday, 14th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at $0.119 to a day high of $0.119. The price has been going up and down for this period, and there has been a -3.25% loss for the last 2 weeks.
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 $0.107 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 19.52% during the next 3 months and, with a 90% probability hold a price between $0.128 and $0.225 at the end of this 3-month period.
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PRRSF Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 06, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Prospect Ridge Resources 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 $0.119 and $0.136. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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.
Support, Risk & Stop-loss for Prospect Ridge Resources Corp. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.101 and $0.101. 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, Prospect Ridge Resources Corp. finds support just below today's level at $0.101. If this is broken, then the next support from accumulated volume will be at $0.101 and $0.0958.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock 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 0%
Prospect Ridge Resources Corp. is oversold on RSI14 (2). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: $0.111 (-6.96%) (This stock has low daily movements and this gives low risk. Low RSI14 is 2 which reduces the risk some. There is a buy signal from a pivot bottom found 46 days ago.)
Trading Expectations (PRRSF) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect Prospect Ridge Resources Corp. to open at $0.119, and during the day (based on 14 day Average True Range), to move between $0.116 and $0.122, which gives a possible trading interval of +/-$0.0029 (+/-2.42%) up or down from last closing price. If Prospect Ridge Resources Corp. takes out the full calculated possible swing range there will be an estimated 4.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.101 (14.86%) than the resistance at $0.141 (18.39%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Prospect Ridge Resources Corp. stock A Buy?
Prospect Ridge Resources Corp. 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 Prospect Ridge Resources Corp. of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| $0.119 ( 0%) | $0.119 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PRRSF
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.119 | - |
| R2 | 0.119 | - |
| R1 | 0.119 | - |
| Price | 0.119 | |
| S1 | 0.119 | - |
| S2 | 0.119 | - |
| S3 | 0.119 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.145 | 21.75% |
| R2 | 0.143 | 19.65% |
| R1 | 0.141 | 18.39% |
| Price | 0.119 | |
| S1 | 0.101 | -14.86% |
| S2 | 0.101 | -15.20% |
| S3 | 0.0958 | -19.61% |
FAQ
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