Surge Copper Corp. Stock Forecast

Big movements in Surge Copper Corp. stock price on Friday moving 21.62% between high and low
(Updated on May 17, 2024)

SURG.V Signals & Forecast

The Surge Copper Corp. 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 $0.171 and $0.133. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 100.00%. 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). Surge Copper 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. Higher liquidity also reduces the general risk.

Support, Risk & Stop-loss for Surge Copper Corp. stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.190 and $0.170. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $0.170 may give a huge drop in the stock price.

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 $0.0400 between high and low, or 21.62%. For the last week, the stock has had daily average volatility of 15.93%.

The Surge Copper Corp. stock is extremely overbought on RSI14 (79). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

Our recommended stop-loss: $0.212 (-3.42%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 79 and this increases the risk substantially. There is a buy signal from a pivot bottom found 19 days ago.)

Trading Expectations (SURG.V) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect Surge Copper Corp. to open at $0.210, and during the day (based on 14 day Average True Range), to move between $0.204 and $0.236, which gives a possible trading interval of +/-$0.0158 (+/-7.17%) up or down from last closing price. If Surge Copper Corp. takes out the full calculated possible swing range there will be an estimated 14.33% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $0.190, some $0.0300 (13.64%) from the current price of $0.220, our system finds the risk reward attractive.

Is Surge Copper Corp. stock A Buy?

Surge Copper 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Downgraded

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 Surge Copper Corp. of Tuesday, May 21, 2024

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