Ucore Rare Metals Inc Stock Forecast
Green day on Monday for Ucore Rare Metals Inc
(Updated on Jun 17, 2024)
The Ucore Rare Metals Inc stock price gained 4.86% on the last trading day (Monday, 17th Jun 2024), rising from $0.467 to $0.490. During the last trading day the stock fluctuated 0% from a day low at $0.490 to a day high of $0.490. The price has been going up and down for this period, and there has been a -2.2% loss for the last 2 weeks. Volume fell on the last day by -16 thousand shares and in total, 3 thousand shares were bought and sold for approximately $1.47 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 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 $0.509 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 -14.42% during the next 3 months and, with a 90% probability hold a price between $0.353 and $0.436 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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UURAF Signals & Forecast
There are few to no technical positive signals at the moment. The Ucore Rare Metals Inc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $0.511. On a fall, the stock will find some support from the short-term average at $0.479. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -11.79%. 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). 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 Ucore Rare Metals Inc stock
Ucore Rare Metals Inc finds support from accumulated volume at $0.482 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the 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 1.39%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (UURAF) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Ucore Rare Metals Inc to open at $0.490, and during the day (based on 14 day Average True Range), to move between $0.467 and $0.513, which gives a possible trading interval of +/-$0.0225 (+/-4.60%) up or down from last closing price. If Ucore Rare Metals Inc takes out the full calculated possible swing range there will be an estimated 9.20% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.482 (1.73%) than the resistance at $0.540 (10.20%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Ucore Rare Metals Inc stock A Buy?
Ucore Rare Metals Inc holds several negative signals and is within a 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: -2.472 Sell Candidate Unchanged
Predicted Opening Price for Ucore Rare Metals Inc of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| $0.490 ( 0%) | $0.490 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UURAF
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.490 | - |
| R2 | 0.490 | - |
| R1 | 0.490 | - |
| Price | 0.490 | |
| S1 | 0.490 | - |
| S2 | 0.490 | - |
| S3 | 0.490 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.570 | 16.33% |
| R2 | 0.550 | 12.24% |
| R1 | 0.540 | 10.20% |
| Price | 0.490 | |
| S1 | 0.482 | -1.73% |
| S2 | 0.467 | -4.63% |
| S3 | 0.463 | -5.53% |
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