Pyrogenesis Canada Inc 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
Strong day for Pyrogenesis Canada Inc stock price on Friday rising 5.56% to $0.570
(Updated on May 03, 2024)
The Pyrogenesis Canada Inc stock price gained 5.56% on the last trading day (Friday, 3rd May 2024), rising from $0.540 to $0.570. During the last trading day the stock fluctuated 3.57% from a day low at $0.560 to a day high of $0.580. The price has risen in 7 of the last 10 days and is up by 23.91% 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, 4 thousand more shares were traded than the day before. In total, 72 thousand shares were bought and sold for approximately $40.78 thousand.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $0.535, a level that may pose a second chance to hit a runner. According to fan-theory $0.681 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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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 $0.519 and $0.457. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 34.12%. 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. The very low volume increases the risk and reduces the other technical signals issued. 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 $0.470 and $0.465. 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 $0.470. If this is broken, then the next support from accumulated volume will be at $0.465 and $0.440.
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 $0.0200 between high and low, or 3.57%. For the last week, the stock has had daily average volatility of 8.06%.
Our recommended stop-loss: $0.549 (-3.68%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (PYR.TO) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Pyrogenesis Canada Inc to open at $0.570, and during the day (based on 14 day Average True Range), to move between $0.539 and $0.601, which gives a possible trading interval of +/-$0.0312 (+/-5.47%) up or down from last closing price. If Pyrogenesis Canada Inc takes out the full calculated possible swing range there will be an estimated 10.93% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $0.470, some $0.1000 (17.54%) from the current price of $0.570, our system finds the risk reward attractive.
Is Pyrogenesis Canada Inc stock A Buy?
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.100 Buy Candidate Upgraded
Predicted Opening Price for Pyrogenesis Canada Inc of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $0.570 ( 0%) | $0.570 |
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 | 0.590 | 3.51 % | |
| R2 | 0.582 | 2.17 % | ||
| R1 | 0.578 | 1.34 % | ||
| Current price: | 0.570 | |||
| Support | S1 | 0.562 | -1.34 % | |
| S2 | 0.558 | -2.17 % | ||
| S3 | 0.550 | -3.51 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 0.570 | |||
| Support | S1 | 0.470 | -17.54% | |
| S2 | 0.465 | -18.42% | ||
| S3 | 0.440 | -22.81% |
FAQ
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