Ur-Energy Inc. (USA) Stock Forecast
Evaluation of Ur-Energy Inc. (USA) stock downgraded after the last trading session.
(Updated on Apr 23, 2024)
The Ur-Energy Inc. (USA) stock price gained 2.42% on the last trading day (Tuesday, 23rd Apr 2024), rising from $1.65 to $1.69. During the last trading day the stock fluctuated 6.46% from a day low at $1.63 to a day high of $1.73. The price has been going up and down for this period, and there has been a -1.17% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 906 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $5.24 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -8.67% during the next 3 months and, with a 90% probability hold a price between $1.25 and $1.69 at the end of this 3-month period.
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URG Signals & Forecast
The Ur-Energy Inc. (USA) 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 $1.68 and $1.63. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical 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 Wednesday, April 03, 2024, and so far it has fallen -5.06%. 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).
Support, Risk & Stop-loss for Ur-Energy Inc. (USA) stock
Ur-Energy Inc. (USA) finds support from accumulated volume at $1.66 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.105 between high and low, or 6.46%. For the last week, the stock has had daily average volatility of 4.19%.
Our recommended stop-loss: $1.61 (-4.79%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 14 days ago.)
Trading Expectations (URG) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Ur-Energy Inc. (USA) to open at $1.68, and during the day (based on 14 day Average True Range), to move between $1.61 and $1.77, which gives a possible trading interval of +/-$0.0836 (+/-4.94%) up or down from last closing price. If Ur-Energy Inc. (USA) takes out the full calculated possible swing range there will be an estimated 9.89% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.71 (1.18%) than the support at $1.66 (1.78%), 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 Ur-Energy Inc. (USA) stock A Buy?
Ur-Energy Inc. (USA) holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.006 Hold/Accumulate Downgraded
Predicted Opening Price for Ur-Energy Inc. (USA) of Wednesday, April 24, 2024
Fair opening price April 24, 2024 | Current price |
---|---|
$1.68 ( 0.493%) | $1.69 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for URG
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.79 | 5.72 % | |
R2 | 1.75 | 3.35 % | ||
R1 | 1.72 | 1.88 % | ||
Current price: | 1.69 | |||
Support | S1 | 1.64 | -2.87 % | |
S2 | 1.62 | -4.33 % | ||
S3 | 1.58 | -6.71 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.85 | 9.47 % | |
R2 | 1.78 | 5.33 % | ||
R1 | 1.71 | 1.18 % | ||
Current price | 1.69 | |||
Support | S1 | 1.66 | -1.78% | |
S2 | 1.59 | -5.92% | ||
S3 | 1.57 | -7.10% |
FAQ
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