SPEY RESOURCES CORP Stock Forecast

A very strong day for SPEY RESOURCES CORP stock price on Thursday
(Updated on Jun 06, 2024)

SPEYF Signals & Forecast

The SPEY RESOURCES 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 $0.0055 and $0.0060. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 22, 2024, and so far it has risen 146.67%. 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). SPEY RESOURCES CORP 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.

Support, Risk & Stop-loss for SPEY RESOURCES CORP stock

SPEY RESOURCES CORP finds support from accumulated volume at $0.0073 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 a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". 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 8.78%.

Our recommended stop-loss: $0.0071 (-3.80%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 24 days ago.)

Trading Expectations (SPEYF) For The Upcoming Trading Day Of Friday 7th

For the upcoming trading day on Friday, 7th we expect SPEY RESOURCES CORP to open at $0.0074, and during the day (based on 14 day Average True Range), to move between $0.0059 and $0.0089, which gives a possible trading interval of +/-$0.0015 (+/-20.11%) up or down from last closing price. If SPEY RESOURCES CORP takes out the full calculated possible swing range there will be an estimated 40.22% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0075 (1.35%) than the support at $0.0073 (1.35%), 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 SPEY RESOURCES CORP stock A Buy?

SPEY RESOURCES CORP holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Upgraded

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 SPEY RESOURCES CORP of Friday, June 7, 2024

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