Royal Helium Ltd. Stock Forecast
Evaluation of Royal Helium Ltd. stock downgraded after the last trading session.
(Updated on May 02, 2024)
The Royal Helium Ltd. stock price gained 2.21% on the last trading day (Thursday, 2nd May 2024), rising from $0.0587 to $0.0600. During the last trading day the stock fluctuated 2.21% from a day low at $0.0587 to a day high of $0.0600. The price has been going up and down for this period, and there has been a -42.91% loss for the last 2 weeks. Volume fell on the last day by -13 thousand shares and in total, 85 thousand shares were bought and sold for approximately $5.11 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 lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.0563 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -34.79% during the next 3 months and, with a 90% probability hold a price between $0.0367 and $0.0703 at the end of this 3-month period.
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RHCCF Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 3.12%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Royal Helium Ltd. 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 $0.0620 and $0.103. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Royal Helium Ltd. stock
Royal Helium Ltd. finds support from accumulated volume at $0.0587 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0013 between high and low, or 2.21%. For the last week the stock has had daily average volatility of 13.38%.
Royal Helium Ltd. is oversold on RSI14 (14). 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: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (RHCCF) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Royal Helium Ltd. to open at $0.0596, and during the day (based on 14 day Average True Range), to move between $0.0508 and $0.0692, which gives a possible trading interval of +/-$0.0092 (+/-15.30%) up or down from last closing price. If Royal Helium Ltd. takes out the full calculated possible swing range there will be an estimated 30.60% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0610 (1.67%) than the support at $0.0587 (2.17%), 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 Royal Helium Ltd. stock A Buy?
Royal Helium Ltd. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.374 Strong Sell Candidate Downgraded
Predicted Opening Price for Royal Helium Ltd. of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $0.0596 ( 0.722%) | $0.0600 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RHCCF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0609 | 1.44 % | |
| R2 | 0.0604 | 0.617 % | ||
| R1 | 0.0601 | 0.105 % | ||
| Current price: | 0.0600 | |||
| Support | S1 | 0.0591 | -1.55 % | |
| S2 | 0.0588 | -2.06 % | ||
| S3 | 0.0583 | -2.89 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0691 | 15.17 % | |
| R2 | 0.0680 | 13.33 % | ||
| R1 | 0.0610 | 1.67 % | ||
| Current price | 0.0600 | |||
| Support | S1 | 0.0587 | -2.17% | |
| S2 | 0.0582 | -3.02% | ||
| S3 | 0 | . |
FAQ
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