BEAR CREEK MNG CORP Stock Forecast
BEAR CREEK MNG CORP stock upgraded to Buy Candidate.
(Updated on Apr 23, 2024)
The BEAR CREEK MNG CORP stock price gained 1.64% on the last trading day (Tuesday, 23rd Apr 2024), rising from $0.274 to $0.279. During the last trading day the stock fluctuated 4.13% from a day low at $0.279 to a day high of $0.290. The price has risen in 6 of the last 10 days but is still down by -2.28% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 171 thousand more shares were traded than the day before. In total, 226 thousand shares were bought and sold for approximately $62.91 thousand.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 75.22% during the next 3 months and, with a 90% probability hold a price between $0.348 and $0.542 at the end of this 3-month period.
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BCEKF Signals & Forecast
The BEAR CREEK MNG 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 $0.276 and $0.210. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). BEAR CREEK MNG CORP has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, April 19, 2024, and so far it has fallen -8.69%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for BEAR CREEK MNG CORP stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.250 and $0.223. 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, BEAR CREEK MNG CORP finds support just below today's level at $0.250. If this is broken, then the next support from accumulated volume will be at $0.223 and $0.212.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0115 between high and low, or 4.13%. For the last week, the stock has had daily average volatility of 7.29%.
Our recommended stop-loss: $0.263 (-5.68%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (BCEKF) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect BEAR CREEK MNG CORP to open at $0.282, and during the day (based on 14 day Average True Range), to move between $0.252 and $0.305, which gives a possible trading interval of +/-$0.0261 (+/-9.37%) up or down from last closing price. If BEAR CREEK MNG CORP takes out the full calculated possible swing range there will be an estimated 18.74% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.282 (1.29%) than the support at $0.250 (10.23%), 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 BEAR CREEK MNG CORP stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for BEAR CREEK MNG CORP stock to perform well in 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: 3.330 Buy Candidate Upgraded
Predicted Opening Price for BEAR CREEK MNG CORP of Wednesday, April 24, 2024
Fair opening price April 24, 2024 | Current price |
---|---|
$0.282 ( 1.38%) | $0.279 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BCEKF
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.294 | 5.51 % | |
R2 | 0.289 | 3.93 % | ||
R1 | 0.287 | 2.95 % | ||
Current price: | 0.279 | |||
Support | S1 | 0.278 | -0.201 % | |
S2 | 0.275 | -1.18 % | ||
S3 | 0.271 | -2.75 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.289 | 3.72 % | |
R2 | 0.288 | 3.45 % | ||
R1 | 0.282 | 1.29 % | ||
Current price | 0.279 | |||
Support | S1 | 0.250 | -10.23% | |
S2 | 0.223 | -19.86% | ||
S3 | 0.212 | -23.81% |
FAQ
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