Chinook Energy Inc. Stock Forecast

Chinook Energy Inc. stock price down 0% on Thursday
(Updated on Apr 30, 2020)

CKE.TO Signals & Forecast

The Chinook Energy Inc. 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 $0.0700 and $0.0656. A breakdown below any of these levels will issue sell signals. 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 Wednesday, April 29, 2020, 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 on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Chinook Energy Inc. stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.0650 and $0.0600. 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, Chinook Energy Inc. finds support just below today's level at $0.0650. If this is broken, then the next support from accumulated volume will be at $0.0600 and $0.0550.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock 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 0%

Our recommended stop-loss: $0.0674 (-3.66%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (CKE.TO) For The Upcoming Trading Day Of Friday 1st

For the upcoming trading day on Friday, 1st we expect Chinook Energy Inc. to open at $0.0700, and during the day (based on 14 day Average True Range), to move between $0.0673 and $0.0727, which gives a possible trading interval of +/-$0.0027 (+/-3.84%) up or down from last closing price. If Chinook Energy Inc. takes out the full calculated possible swing range there will be an estimated 7.69% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $0.0650, some $0.0050 (7.14%) from the current price of $0.0700, our system finds the risk reward attractive.

Is Chinook Energy Inc. 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 Chinook Energy Inc. stock to perform well in the short-term.

Current score: 3.226 Buy Candidate Unchanged

Predicted Opening Price for Chinook Energy Inc. of Friday, May 1, 2020

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