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If Torchlight Energy Resources takes out the full calculated possible swing range there will be an estimated 9.11% move between the lowest and the highest trading price during the day. Which gives a possible trading interval of +/-$0.0948 (+/-4.56%) up or down from last closing price.
Trading Expectations For The Upcoming Trading Day Of Wednesday 16thįor the upcoming trading day on Wednesday, 16th we expect Torchlight Energy Resources to open at $2.08, and during the day (based on 14 day Average True Range), There is a buy signal from a pivot bottom found 10 days ago.) The RSI14 is 89 and this increases the risk substantially. (This stock has low daily movements and this gives low risk. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. The Torchlight Energy Resources stock is overbought on RSI14 and lies in the upper part of the trend. For the last week the stock has had daily average volatility of 0% 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%. In general the stock tends to have very controlled movements and therefore the general risk is considered very low. The very low volume increases the risk and reduces the other technical signals issued. This does not cause any direct divergence but may be an early warning and a possible "turning point". Volume fell on the last day without any changes to the price. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
Further rise is indicated until a new top pivot has been found.
A buy signal was issued from a pivot bottom point on Tuesday, March 01, 2022, and so far it has fallen 0%. A breakdown below any of these levels will issue sell signals. On corrections down, there will be some support from the lines at $2.08 and $1.85. 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. The Torchlight Energy Resources stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock.
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