North Shore Global Uranium Mining ETF Forecast

Green day on Friday for North Shore Global Uranium Mining
(Updated on May 03, 2024)

URNM Signals & Forecast

There are mixed signals in the ETF today. A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -1.26%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The North Shore Global Uranium Mining ETF 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 $51.83 and $50.94. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched closely. The ETF had a Golden Star Signal on Thursday, March 28, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.

Support, Risk & Stop-loss for North Shore Global Uranium Mining ETF

North Shore Global Uranium Mining finds support from accumulated volume at $52.74 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This ETF has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $1.79 between high and low, or 3.38%. For the last week, the ETF has had daily average volatility of 3.90%.

Our recommended stop-loss: $52.15 (-3.33%) (This ETF has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 22 days ago.)

Trading Expectations (URNM) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect North Shore Global Uranium Mining ETF to open at $53.89, and during the day (based on 14 day Average True Range), to move between $51.94 and $55.96, which gives a possible trading interval of +/-$2.01 (+/-3.73%) up or down from last closing price. If North Shore Global Uranium Mining ETF takes out the full calculated possible swing range there will be an estimated 7.46% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $54.07 (0.22%) than the support at $52.74 (2.24%), 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 North Shore Global Uranium Mining ETF ETF A Buy?

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for North Shore Global Uranium Mining ETF to perform well in the short-term period.

Current score: 1.254 Buy Candidate Unchanged

Predicted Opening Price for North Shore Global Uranium Mining ETF of Monday, May 6, 2024

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