Centerra Gold Inc. Stock Forecast
Stronger technical forecast for Centerra Gold Inc. stock price after Monday trading.
(Updated on May 06, 2024)
The Centerra Gold Inc. stock price gained 4.08% on the last trading day (Monday, 6th May 2024), rising from $6.13 to $6.38. During the last trading day the stock fluctuated 3.47% from a day low at $6.20 to a day high of $6.42. The price has risen in 6 of the last 10 days and is up by 5.11% over the past 2 weeks. Volume fell on the last day by -109 thousand shares and in total, 321 thousand shares were bought and sold for approximately $2.05 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a 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 27.30% during the next 3 months and, with a 90% probability hold a price between $7.48 and $8.54 at the end of this 3-month period.
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CGAU Signals & Forecast
The Centerra Gold 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 $6.20 and $6.02. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, February 13, 2024, and so far it has risen 40.84%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Centerra Gold Inc. stock
Centerra Gold Inc. finds support from accumulated volume at $6.07 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.215 (3.47%) between high and low. For the last week, the stock has had daily average volatility of 3.13%.
Our recommended stop-loss: $6.17 (-3.24%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 57 days ago.)
Trading Expectations (CGAU) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Centerra Gold Inc. to open at $6.33, and during the day (based on 14 day Average True Range), to move between $6.18 and $6.58, which gives a possible trading interval of +/-$0.202 (+/-3.17%) up or down from last closing price. If Centerra Gold Inc. takes out the full calculated possible swing range there will be an estimated 6.34% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $6.07, some $0.310 (4.86%) from the current price of $6.38, our system finds the risk reward attractive.
Earnings coming up
Centerra Gold Inc. will release earnings BMO on Tuesday, May 14, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.150. We will update the financials statements for Centerra Gold Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 7.51% in the first trading day after earnings release.
Is Centerra Gold Inc. stock A Buy?
Centerra Gold Inc. holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 6.487 Strong Buy Candidate Upgraded
Predicted Opening Price for Centerra Gold Inc. of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $6.33 ( 0.758%) | $6.38 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CGAU
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.55 | 2.61 % | |
| R2 | 6.46 | 1.33 % | ||
| R1 | 6.41 | 0.530 % | ||
| Current price: | 6.38 | |||
| Support | S1 | 6.25 | -2.04 % | |
| S2 | 6.20 | -2.84 % | ||
| S3 | 6.12 | -4.13 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 6.38 | |||
| Support | S1 | 6.07 | -4.86% | |
| S2 | 5.99 | -6.11% | ||
| S3 | 5.66 | -11.29% |
CGAU Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 12, 2024 | Mar 12, 2024 | Mar 27, 2024 | $0.0518 | 0.89% |
| 2 | Oct 31, 2023 | Nov 14, 2023 | Nov 29, 2023 | $0.0500 | 0.85% |
| 3 | Jul 31, 2023 | Aug 14, 2023 | Aug 29, 2023 | $0.0530 | 0.87% |
| 4 | May 15, 2023 | May 26, 2023 | Jun 12, 2023 | $0.0510 | 0.82% |
| 5 | Feb 23, 2023 | Mar 13, 2023 | Mar 28, 2023 | $0.0510 | 0.776% |
FAQ
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