Ur-Energy Inc. (USA) Stock Forecast
Ur-Energy Inc. (USA) stock price down 3.55% on Tuesday
(Updated on Jul 02, 2024)
The Ur-Energy Inc. (USA) stock price fell by -3.55% on the last day (Tuesday, 2nd Jul 2024) from $1.41 to $1.36. During the last trading day the stock fluctuated 4.46% from a day low at $1.35 to a day high of $1.41. The price has fallen in 5 of the last 10 days and is down by -6.21% for this period. Volume has increased on the last day by 638 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 2 million shares were bought and sold for approximately $3.28 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -16.82% during the next 3 months and, with a 90% probability hold a price between $1.04 and $1.40 at the end of this 3-month period.
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URG Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 25, 2024, and so far it has risen 6.25%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Ur-Energy Inc. (USA) 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 $1.38 and $1.59. A break-up above any of these levels will issue buy signals. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Ur-Energy Inc. (USA) stock
On the downside, the stock finds support just below today's level from accumulated volume at $1.28. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the stock price.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0600 between high and low, or 4.46%. For the last week, the stock has had daily average volatility of 5.80%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (URG) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Ur-Energy Inc. (USA) to open at $1.37, and during the day (based on 14 day Average True Range), to move between $1.29 and $1.43, which gives a possible trading interval of +/-$0.0723 (+/-5.32%) up or down from last closing price. If Ur-Energy Inc. (USA) takes out the full calculated possible swing range there will be an estimated 10.64% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.41 (3.68%) than the support at $1.28 (5.88%), 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 Ur-Energy Inc. (USA) stock A Buy?
Ur-Energy Inc. (USA) 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.
Current score: -2.338 Sell Candidate Unchanged
Predicted Opening Price for Ur-Energy Inc. (USA) of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $1.37 ( 0.735%) | $1.36 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for URG
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.43 | 5.15% |
| R2 | 1.41 | 3.46% |
| R1 | 1.39 | 2.42% |
| Price | 1.36 | |
| S1 | 1.35 | -0.95% |
| S2 | 1.33 | -1.99% |
| S3 | 1.31 | -3.68% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.69 | 24.26% |
| R2 | 1.45 | 6.62% |
| R1 | 1.41 | 3.68% |
| Price | 1.36 | |
| S1 | 1.28 | -5.88% |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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