PureBase Corporation Stock Forecast
Strong day for PureBase Corporation stock price on Monday rising 65.85% to $0.0680
(Updated on Jun 24, 2024)
The PureBase Corporation stock price gained 65.85% on the last trading day (Monday, 24th Jun 2024), rising from $0.0410 to $0.0680. During the last trading day the stock fluctuated 0% from a day low at $0.0680 to a day high of $0.0680. The price has risen in 4 of the last 10 days and is up by 36% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 10 thousand more shares were traded than the day before. In total, 10 thousand shares were bought and sold for approximately $691.97 .
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 $0.0762 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 -24.27% during the next 3 months and, with a 90% probability hold a price between $0.0201 and $0.0577 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.
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PUBC Signals & Forecast
The PureBase Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.0577 and $0.0576. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, June 20, 2024, and so far it has risen 65.85%. 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). PureBase Corporation has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. 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 Thursday, June 20, 2024 with a target of $0.0628. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for PureBase Corporation stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0599 and $0.0580. 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, PureBase Corporation finds support just below today's level at $0.0599. If this is broken, then the next support from accumulated volume will be at $0.0580 and $0.0515.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". 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 4.88%.
Our recommended stop-loss: $0.0653 (-3.92%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (PUBC) For The Upcoming Trading Day Of Tuesday 25th
For the upcoming trading day on Tuesday, 25th we expect PureBase Corporation to open at $0.0680, and during the day (based on 14 day Average True Range), to move between $0.0561 and $0.0799, which gives a possible trading interval of +/-$0.0119 (+/-17.50%) up or down from last closing price. If PureBase Corporation takes out the full calculated possible swing range there will be an estimated 35.00% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0710 (4.41%) than the support at $0.0599 (11.91%), 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 PureBase Corporation stock A Buy?
PureBase Corporation 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
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 PureBase Corporation of Tuesday, June 25, 2024
| Fair opening price June 25, 2024 | Current price |
|---|---|
| $0.0680 ( 0%) | $0.0680 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PUBC
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0680 | - |
| R2 | 0.0680 | - |
| R1 | 0.0680 | - |
| Price | 0.0680 | |
| S1 | 0.0680 | - |
| S2 | 0.0680 | - |
| S3 | 0.0680 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0800 | 17.65% |
| R2 | 0.0755 | 11.03% |
| R1 | 0.0710 | 4.41% |
| Price | 0.0680 | |
| S1 | 0.0599 | -11.91% |
| S2 | 0.0580 | -14.71% |
| S3 | 0.0515 | -24.26% |
FAQ
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