Kraken Energy Corp. Stock Forecast
Kraken Energy Corp. stock upgraded from Hold/Accumulate to Buy Candidate after Tuesday trading session.
(Updated on Jul 02, 2024)
The Kraken Energy Corp. stock price gained 4.35% on the last trading day (Tuesday, 2nd Jul 2024), rising from $0.115 to $0.120. During the last trading day the stock fluctuated 4.35% from a day low at $0.115 to a day high of $0.120. The price has risen in 5 of the last 10 days and is up by 9.09% over the past 2 weeks. Volume fell on the last day by -20 thousand shares and in total, 29 thousand shares were bought and sold for approximately $3.43 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 stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $0.119, a level that may pose a second chance to hit a runner. According to fan-theory $0.145 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
UUSA.CN Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Friday, May 31, 2024, and so far it has fallen 0%. 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. The Kraken Energy 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 $0.111 and $0.109. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Kraken Energy Corp. stock
Kraken Energy Corp. finds support from accumulated volume at $0.115 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 $0.0050 between high and low, or 4.35%. For the last week the stock has had daily average volatility of 3.68%.
Our recommended stop-loss: $0.116 (-3.30%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 39 days ago.)
Trading Expectations (UUSA.CN) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Kraken Energy Corp. to open at $0.118, and during the day (based on 14 day Average True Range), to move between $0.113 and $0.127, which gives a possible trading interval of +/-$0.0070 (+/-5.86%) up or down from last closing price. If Kraken Energy Corp. takes out the full calculated possible swing range there will be an estimated 11.72% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.115 (4.17%) than the resistance at $0.135 (12.50%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Kraken Energy Corp. stock A Buy?
Several short term signals are positive and the break up from the falling indicates a possible shift of trend. We believe prices around the breaking point to be particularly good levels but also believe that the current level will hold a possible good buy level for the short term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.304 Buy Candidate Upgraded
Predicted Opening Price for Kraken Energy Corp. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $0.118 ( 1.39%) | $0.120 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UUSA.CN
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.123 | 2.78% |
| R2 | 0.121 | 1.19% |
| R1 | 0.120 | 0.203% |
| Price | 0.120 | |
| S1 | 0.116 | -2.98% |
| S2 | 0.115 | -3.96% |
| S3 | 0.113 | -5.56% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0.145 | 20.83% |
| R1 | 0.135 | 12.50% |
| Price | 0.120 | |
| S1 | 0.115 | -4.17% |
| S2 | 0.110 | -8.33% |
| S3 | 0.105 | -12.50% |
FAQ
Click here for our free guide on how to buy Kraken Energy Corp. Stock.
