Traction Uranium Corp. Stock Forecast
Traction Uranium Corp. stock price ended at $0.0523 on Thursday, after gaining 0.192%.
(Updated on May 30, 2024)
The Traction Uranium Corp. stock price gained 0.192% on the last trading day (Thursday, 30th May 2024), rising from $0.0522 to $0.0523. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 7.17% from a day low at $0.0488 to a day high of $0.0523. The price has risen in 5 of the last 10 days and is up by 6.3% over the past 2 weeks. Volume fell on the last day by -1 thousand shares and in total, 52 thousand shares were bought and sold for approximately $2.72 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 the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $0.0543 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -22.49% during the next 3 months and, with a 90% probability hold a price between $0.0302 and $0.0421 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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TRCTF Signals & Forecast
The Traction Uranium 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 $0.0457 and $0.0479. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 23, 2024, and so far it has risen 30.75%. 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. 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 Traction Uranium Corp. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0492 and $0.0480. 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, Traction Uranium Corp. finds support just below today's level at $0.0492. If this is broken, then the next support from accumulated volume will be at $0.0480 and $0.0400.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0035 between high and low, or 7.17%. For the last week the stock has had daily average volatility of 21.74%.
Our recommended stop-loss: $0.0506 (-3.32%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 24 days ago.)
Trading Expectations (TRCTF) For The Upcoming Trading Day Of Friday 31st
For the upcoming trading day on Friday, 31st we expect Traction Uranium Corp. to open at $0.0511, and during the day (based on 14 day Average True Range), to move between $0.0462 and $0.0584, which gives a possible trading interval of +/-$0.0061 (+/-11.73%) up or down from last closing price. If Traction Uranium Corp. takes out the full calculated possible swing range there will be an estimated 23.46% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0492 (5.93%) than the resistance at $0.0600 (14.72%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Traction Uranium Corp. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 1.862 Buy Candidate Unchanged
Predicted Opening Price for Traction Uranium Corp. of Friday, May 31, 2024
| Fair opening price May 31, 2024 | Current price |
|---|---|
| $0.0511 ( 2.23%) | $0.0523 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TRCTF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0546 | 4.46 % | |
| R2 | 0.0533 | 1.91 % | ||
| R1 | 0.0525 | 0.326 % | ||
| Current price: | 0.0523 | |||
| Support | S1 | 0.0498 | -4.79 % | |
| S2 | 0.0490 | -6.37 % | ||
| S3 | 0.0476 | -8.92 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0620 | 18.55 % | |
| R2 | 0.0610 | 16.63 % | ||
| R1 | 0.0600 | 14.72 % | ||
| Current price | 0.0523 | |||
| Support | S1 | 0.0492 | -5.93% | |
| S2 | 0.0480 | -8.22% | ||
| S3 | 0.0400 | -23.52% |
FAQ
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