Excellon Resources Inc. Stock Forecast
Volatile ride for Excellon Resources Inc. stock price on Friday moving between $0.185 and $0.210
(Updated on Apr 19, 2024)
The Excellon Resources Inc. stock price fell by -5.00% on the last day (Friday, 19th Apr 2024) from $0.200 to $0.190. During the last trading day the stock fluctuated 13.51% from a day low at $0.185 to a day high of $0.210. The price has fallen in 5 of the last 10 days and is down by -24% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -46 thousand shares and in total, 48 thousand shares were bought and sold for approximately $9.15 thousand.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.177 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 174.79% during the next 3 months and, with a 90% probability hold a price between $0.486 and $0.767 at the end of this 3-month period.
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EXN.TO Signals & Forecast
The Excellon Resources Inc. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $0.206. On a fall, the stock will find some support from the long-term average at approximately $0.176. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 05, 2024, and so far it has fallen -24.00%. 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 along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Excellon Resources Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.180 and $0.155. 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, Excellon Resources Inc. finds support just below today's level at $0.180. If this is broken, then the next support from accumulated volume will be at $0.155 and $0.150.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0250 between high and low, or 13.51%. For the last week the stock has had daily average volatility of 12.80%.
Our recommended stop-loss: $0.179 (-5.94%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 10 days ago.)
Trading Expectations (EXN.TO) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Excellon Resources Inc. to open at $0.195, and during the day (based on 14 day Average True Range), to move between $0.165 and $0.215, which gives a possible trading interval of +/-$0.0247 (+/-12.99%) up or down from last closing price. If Excellon Resources Inc. takes out the full calculated possible swing range there will be an estimated 25.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.180 (5.26%) than the resistance at $0.210 (10.53%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Excellon Resources 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 Excellon Resources Inc. stock to perform well in the short-term.
Current score: 2.289 Buy Candidate Unchanged
Predicted Opening Price for Excellon Resources Inc. of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $0.195 ( 2.63%) | $0.190 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EXN.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.220 | 15.79 % | |
| R2 | 0.210 | 10.76 % | ||
| R1 | 0.205 | 7.66 % | ||
| Current price: | 0.190 | |||
| Support | S1 | 0.185 | -2.39 % | |
| S2 | 0.180 | -5.50 % | ||
| S3 | 0.170 | -10.53 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.230 | 21.05 % | |
| R2 | 0.220 | 15.79 % | ||
| R1 | 0.210 | 10.53 % | ||
| Current price | 0.190 | |||
| Support | S1 | 0.180 | -5.26% | |
| S2 | 0.155 | -18.42% | ||
| S3 | 0.150 | -21.05% |
FAQ
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