Pyrogenesis Canada Inc Stock Forecast
Volatile ride for Pyrogenesis Canada Inc stock price on Monday moving between $0.580 and $0.650
(Updated on May 06, 2024)
The Pyrogenesis Canada Inc stock price gained 8.77% on the last trading day (Monday, 6th May 2024), rising from $0.570 to $0.620. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 12.07% from a day low at $0.580 to a day high of $0.650. The price has risen in 8 of the last 10 days and is up by 34.78% 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, 110 thousand more shares were traded than the day before. In total, 182 thousand shares were bought and sold for approximately $112.69 thousand.
Given the current short-term trend, the stock is expected to fall -3.76% during the next 3 months and, with a 90% probability hold a price between $0.379 and $0.597 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.
PYR.TO Signals & Forecast
Mostly positive signals in the chart today. The Pyrogenesis Canada Inc 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 $0.541 and $0.461. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, March 26, 2024, and so far it has risen 53.09%. 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). Pyrogenesis Canada Inc 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. Higher liquidity also reduces the general risk. The stock had a Golden Star Signal on Thursday, April 18, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Thursday, April 18, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Pyrogenesis Canada Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.530 and $0.510. 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, Pyrogenesis Canada Inc finds support just below today's level at $0.530. If this is broken, then the next support from accumulated volume will be at $0.510 and $0.470.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0700 between high and low, or 12.07%. For the last week, the stock has had daily average volatility of 9.84%.
The Pyrogenesis Canada Inc stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $0.600 (-3.30%) (This stock has high daily movements and this gives high risk. The RSI14 is 85 and this increases the risk substantially. There is a buy signal from a pivot bottom found 28 days ago.)
Trading Expectations (PYR.TO) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Pyrogenesis Canada Inc to open at $0.617, and during the day (based on 14 day Average True Range), to move between $0.585 and $0.655, which gives a possible trading interval of +/-$0.0346 (+/-5.58%) up or down from last closing price. If Pyrogenesis Canada Inc takes out the full calculated possible swing range there will be an estimated 11.16% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $0.530, some $0.0900 (14.52%) from the current price of $0.620, our system finds the risk reward attractive.
Earnings coming up
Pyrogenesis Canada Inc will release earnings BMO on Tuesday, May 14, 2024. We will update the financials statements for Pyrogenesis Canada Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.98% in the first trading day after earnings release.
Is Pyrogenesis Canada Inc stock A Buy?
Pyrogenesis Canada Inc holds several positive signals and despite the stock being in a falling trend, we considered it to be a good choice at these current levels. We expect Pyrogenesis Canada Inc stock will perform very well in the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 6.250 Strong Buy Candidate Upgraded
Predicted Opening Price for Pyrogenesis Canada Inc of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $0.617 ( 0.538%) | $0.620 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PYR.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.687 | 10.75 % | |
| R2 | 0.660 | 6.44 % | ||
| R1 | 0.643 | 3.78 % | ||
| Current price: | 0.620 | |||
| Support | S1 | 0.590 | -4.85 % | |
| S2 | 0.573 | -7.52 % | ||
| S3 | 0.547 | -11.83 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 0.620 | |||
| Support | S1 | 0.530 | -14.52% | |
| S2 | 0.510 | -17.74% | ||
| S3 | 0.470 | -24.19% |
FAQ
Click here for our free guide on how to buy Pyrogenesis Canada Inc Stock.
