Prospect Ridge Resources Corp. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Prospect Ridge Resources Corp. stock price ended at $0.119 on Thursday, after losing 0%.
(Updated on Jun 20, 2024)
No changes to the price of Prospect Ridge Resources Corp. stock on the last trading day (Thursday, 20th 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 -0.67% loss for the last 2 weeks.
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 6.52% during the next 3 months and, with a 90% probability hold a price between $0.111 and $0.185 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. 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 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 $0.133. A break-up above any of these levels will issue buy signals. 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 (4). 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 (-6.92%) (This stock has low daily movements and this gives low risk. Low RSI14 is 4 which reduces the risk some. There is a buy signal from a pivot bottom found 49 days ago.)
Trading Expectations (PRRSF) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st 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 $0.117 and $0.121, which gives a possible trading interval of +/-$0.0023 (+/-1.94%) 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 3.89% 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 positive signals, but we still don't find these to be enough for a buy candidate. At the current level, 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 Friday, June 21, 2024
| Fair opening price June 21, 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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