American Eagle Gold Corp. Stock Forecast
American Eagle Gold Corp. stock downgraded from Strong Buy Candidate to Buy Candidate after Tuesday trading session.
(Updated on May 07, 2024)
The American Eagle Gold Corp. stock price fell by -2.74% on the last day (Tuesday, 7th May 2024) from $0.730 to $0.710. During the last trading day the stock fluctuated 1.43% from a day low at $0.700 to a day high of $0.710. The price has fallen in 6 of the last 10 days but is still up by 9.23% over the past 2 weeks. 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 -168 thousand shares and in total, 102 thousand shares were bought and sold for approximately $72.36 thousand.
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 33.64% during the next 3 months and, with a 90% probability hold a price between $0.87 and $1.00 at the end of this 3-month period.
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AE.V Signals & Forecast
The American Eagle Gold Corp. 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 $0.687 and $0.675. 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 Monday, May 06, 2024, and so far it has fallen -2.74%. 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 American Eagle Gold Corp. stock
American Eagle Gold Corp. finds support from accumulated volume at $0.690 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0100 between high and low, or 1.43%. For the last week the stock has had daily average volatility of 7.07%.
Our recommended stop-loss: $0.674 (-5.04%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (AE.V) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect American Eagle Gold Corp. to open at $0.707, and during the day (based on 14 day Average True Range), to move between $0.669 and $0.751, which gives a possible trading interval of +/-$0.0414 (+/-5.83%) up or down from last closing price. If American Eagle Gold Corp. takes out the full calculated possible swing range there will be an estimated 11.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.720 (1.41%) than the support at $0.690 (2.82%), 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 American Eagle Gold Corp. 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 American Eagle Gold Corp. stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 4.105 Buy Candidate Downgraded
Predicted Opening Price for American Eagle Gold Corp. of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $0.707 ( 0.469%) | $0.710 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AE.V
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.717 | 0.94 % | |
| R2 | 0.713 | 0.401 % | ||
| R1 | 0.710 | 0.0685 % | ||
| Current price: | 0.710 | |||
| Support | S1 | 0.703 | -1.01 % | |
| S2 | 0.700 | -1.34 % | ||
| S3 | 0.697 | -1.88 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0.730 | 2.82 % | ||
| R1 | 0.720 | 1.41 % | ||
| Current price | 0.710 | |||
| Support | S1 | 0.690 | -2.82% | |
| S2 | 0.670 | -5.63% | ||
| S3 | 0.630 | -11.27% |
FAQ
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