ARGONAUT GOLD INC Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Green day on Friday for ARGONAUT GOLD INC stock after gaining 0.291%
(Updated on Apr 26, 2024)
The ARGONAUT GOLD INC stock price gained 0.291% on the last trading day (Friday, 26th Apr 2024), rising from $0.309 to $0.310. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 8.24% from a day low at $0.290 to a day high of $0.314. The price has risen in 6 of the last 10 days and is up by 2.75% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 139 thousand more shares were traded than the day before. In total, 241 thousand shares were bought and sold for approximately $74.60 thousand.
The stock lies in the upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $0.320 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 12.64% during the next 3 months and, with a 90% probability hold a price between $0.216 and $0.361 at the end of this 3-month period.
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ARNGF Signals & Forecast
The ARGONAUT 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 $0.303 and $0.269. A breakdown below any of these levels will issue sell signals. ARGONAUT GOLD INC has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. 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 Thursday, April 11, 2024, and so far it has fallen -1.24%. 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 ARGONAUT GOLD INC stock
ARGONAUT GOLD INC finds support from accumulated volume at $0.298 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 $0.0239 (8.24%) between high and low. For the last week, the stock has had daily average volatility of 5.09%.
Our recommended stop-loss: $0.297 (-4.08%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 11 days ago.)
Trading Expectations (ARNGF) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect ARGONAUT GOLD INC to open at $0.305, and during the day (based on 14 day Average True Range), to move between $0.292 and $0.328, which gives a possible trading interval of +/-$0.0183 (+/-5.92%) up or down from last closing price. If ARGONAUT GOLD INC takes out the full calculated possible swing range there will be an estimated 11.83% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.314 (1.26%) than the support at $0.298 (3.80%), 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 ARGONAUT GOLD INC stock A Buy?
ARGONAUT GOLD INC 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.
Current score: 0.587 Hold/Accumulate Unchanged
Predicted Opening Price for ARGONAUT GOLD INC of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $0.305 ( 1.71%) | $0.310 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ARNGF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.329 | 6.00 % | |
| R2 | 0.319 | 3.06 % | ||
| R1 | 0.314 | 1.24 % | ||
| Current price: | 0.310 | |||
| Support | S1 | 0.295 | -4.66 % | |
| S2 | 0.290 | -6.48 % | ||
| S3 | 0.281 | -9.42 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0.314 | 1.26 % | ||
| Current price | 0.310 | |||
| Support | S1 | 0.298 | -3.80% | |
| S2 | 0.297 | -4.26% | ||
| S3 | 0.290 | -6.42% |
FAQ
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