Sokoman Minerals Corp. Stock Forecast

Red day on Wednesday for Sokoman Minerals Corp.
(Updated on Jun 26, 2024)

SICNF Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, June 21, 2024, and so far it has fallen 0%. 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 Sokoman Minerals Corp. 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 $0.0298 and $0.0311. 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 on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Buy

Special Signal Notification

Double Bottom Formation

Support, Risk & Stop-loss for Sokoman Minerals Corp. stock

Sokoman Minerals Corp. finds support from accumulated volume at $0.0290 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock 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 7.19%

Our recommended stop-loss: $0.0277 (-6.00%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 21 days ago.)

Trading Expectations (SICNF) For The Upcoming Trading Day Of Thursday 27th

For the upcoming trading day on Thursday, 27th we expect Sokoman Minerals Corp. to open at $0.0295, and during the day (based on 14 day Average True Range), to move between $0.0274 and $0.0316, which gives a possible trading interval of +/-$0.0021 (+/-7.07%) up or down from last closing price. If Sokoman Minerals Corp. takes out the full calculated possible swing range there will be an estimated 14.14% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0290 (1.69%) than the resistance at $0.0300 (1.69%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Sokoman Minerals Corp. stock A Buy?

Sokoman Minerals Corp. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.000 Hold/Accumulate Unchanged

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 Sokoman Minerals Corp. of Thursday, June 27, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.