Power Metals Corp. Stock Forecast
Power Metals Corp. stock upgraded from Sell Candidate to Buy Candidate after Tuesday trading session.
(Updated on May 21, 2024)
The Power Metals Corp. stock price gained 4.96% on the last trading day (Tuesday, 21st May 2024), rising from $0.247 to $0.259. During the last trading day the stock fluctuated 5.49% from a day low at $0.248 to a day high of $0.261. The price has fallen in 6 of the last 10 days but is still up by 7.89% over the past 2 weeks. Volume fell on the last day by -15 thousand shares and in total, 59 thousand shares were bought and sold for approximately $15.15 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very wide and strong 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 18.15% during the next 3 months and, with a 90% probability hold a price between $0.258 and $0.450 at the end of this 3-month period.
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PWRMF Signals & Forecast
The Power Metals Corp. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.240 and $0.246. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Tuesday, April 02, 2024, and so far it has fallen -25.61%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Power Metals Corp. stock
Power Metals Corp. finds support from accumulated volume at $0.255 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0136 between high and low, or 5.49%. For the last week the stock has had daily average volatility of 9.13%.
Our recommended stop-loss: $0.245 (-5.32%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 41 days ago.)
Trading Expectations (PWRMF) For The Upcoming Trading Day Of Wednesday 22nd
For the upcoming trading day on Wednesday, 22nd we expect Power Metals Corp. to open at $0.256, and during the day (based on 14 day Average True Range), to move between $0.241 and $0.277, which gives a possible trading interval of +/-$0.0179 (+/-6.92%) up or down from last closing price. If Power Metals Corp. takes out the full calculated possible swing range there will be an estimated 13.84% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.255 (1.67%) than the resistance at $0.270 (4.35%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Power Metals Corp. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Power Metals Corp. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.188 Buy Candidate Upgraded
Predicted Opening Price for Power Metals Corp. of Wednesday, May 22, 2024
| Fair opening price May 22, 2024 | Current price |
|---|---|
| $0.256 ( 1.19%) | $0.259 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PWRMF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.269 | 4.06 % | |
| R2 | 0.264 | 2.06 % | ||
| R1 | 0.261 | 0.82 % | ||
| Current price: | 0.259 | |||
| Support | S1 | 0.251 | -3.20 % | |
| S2 | 0.247 | -4.44 % | ||
| S3 | 0.242 | -6.44 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.305 | 17.68 % | |
| R2 | 0.293 | 13.12 % | ||
| R1 | 0.270 | 4.35 % | ||
| Current price | 0.259 | |||
| Support | S1 | 0.255 | -1.67% | |
| S2 | 0.236 | -8.85% | ||
| S3 | 0.224 | -13.41% |
FAQ
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