Golden Minerals Company Stock Forecast
Golden Minerals Company stock downgraded from Hold/Accumulate to Strong Sell Candidate after Tuesday trading session.
(Updated on Apr 30, 2024)
The Golden Minerals Company stock price fell by -4.94% on the last day (Tuesday, 30th Apr 2024) from $0.520 to $0.494. It has now fallen 5 days in a row. During the last trading day the stock fluctuated 5.47% from a day low at $0.484 to a day high of $0.510. The price has fallen in 9 of the last 10 days and is down by -28.2% for this period. 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 -198 thousand shares and in total, 188 thousand shares were bought and sold for approximately $93.15 thousand.
The stock lies in the middle of a very 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 27.72% during the next 3 months and, with a 90% probability hold a price between $0.444 and $1.05 at the end of this 3-month period.
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AUMN Signals & Forecast
There are few to no technical positive signals at the moment. The Golden Minerals Company stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $0.552 and $0.499. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -36.60%. 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 Golden Minerals Company stock
Golden Minerals Company finds support from accumulated volume at $0.482 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0265 between high and low, or 5.47%. For the last week the stock has had daily average volatility of 6.91%.
Golden Minerals Company is oversold on RSI14 (21). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AUMN) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect Golden Minerals Company to open at $0.496, and during the day (based on 14 day Average True Range), to move between $0.434 and $0.555, which gives a possible trading interval of +/-$0.0605 (+/-12.25%) up or down from last closing price. If Golden Minerals Company takes out the full calculated possible swing range there will be an estimated 24.49% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.482 (2.49%) than the resistance at $0.556 (12.48%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Golden Minerals Company will release earnings BMO on Wednesday, May 08, 2024. We will update the financials statements for Golden Minerals Company, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 12.22% in the first trading day after earnings release.
Is Golden Minerals Company stock A Buy?
The Golden Minerals Company stock holds several negative signals and despite the positive trend, we believe Golden Minerals Company will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Sell candidate.
Current score: -5.266 Strong Sell Candidate Downgraded
Predicted Opening Price for Golden Minerals Company of Wednesday, May 1, 2024
| Fair opening price May 1, 2024 | Current price |
|---|---|
| $0.496 ( 0.327%) | $0.494 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AUMN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.522 | 5.68 % | |
| R2 | 0.512 | 3.63 % | ||
| R1 | 0.506 | 2.37 % | ||
| Current price: | 0.494 | |||
| Support | S1 | 0.486 | -1.72 % | |
| S2 | 0.480 | -2.98 % | ||
| S3 | 0.469 | -5.02 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.582 | 17.68 % | |
| R2 | 0.576 | 16.53 % | ||
| R1 | 0.556 | 12.48 % | ||
| Current price | 0.494 | |||
| Support | S1 | 0.482 | -2.49% | |
| S2 | 0.421 | -14.89% | ||
| S3 | 0.420 | -15.01% |
FAQ
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