Gold79 Mines Ltd. Stock Forecast
Gold79 Mines Ltd. stock price ended at $0.215 on Friday, after losing 2.27%.
(Updated on Jun 14, 2024)
The Gold79 Mines Ltd. stock price fell by -2.27% on the last day (Friday, 14th Jun 2024) from $0.220 to $0.215. During the last trading day the stock fluctuated 2.33% from a day low at $0.215 to a day high of $0.220. The price has risen in 4 of the last 10 days but is still down by -6.52% for this period. Volume has increased on the last day by 9 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 14 thousand shares were bought and sold for approximately $3.01 thousand.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.199 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 157.14% during the next 3 months and, with a 90% probability hold a price between $0.511 and $1.18 at the end of this 3-month period.
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AUU.V Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Gold79 Mines Ltd. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.224 and $0.230. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 22, 2024, and so far it has fallen -25.86%. Further fall is indicated until a new bottom pivot has been found. Gold79 Mines Ltd. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Gold79 Mines Ltd. stock
Gold79 Mines Ltd. finds support from accumulated volume at $0.210 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0050 between high and low, or 2.33%. For the last week, the stock has had daily average volatility of 1.83%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AUU.V) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect Gold79 Mines Ltd. to open at $0.217, and during the day (based on 14 day Average True Range), to move between $0.203 and $0.227, which gives a possible trading interval of +/-$0.0117 (+/-5.43%) up or down from last closing price. If Gold79 Mines Ltd. takes out the full calculated possible swing range there will be an estimated 10.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.220 (2.33%) than the support at $0.210 (2.33%), 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 Gold79 Mines Ltd. stock A Buy?
The Gold79 Mines Ltd. stock holds several negative signals and despite the positive trend, we believe Gold79 Mines Ltd. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.784 Sell Candidate Unchanged
Predicted Opening Price for Gold79 Mines Ltd. of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| $0.217 ( 0.775%) | $0.215 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AUU.V
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.222 | 3.10% |
| R2 | 0.220 | 2.21% |
| R1 | 0.219 | 1.66% |
| Price | 0.215 | |
| S1 | 0.215 | -0.113% |
| S2 | 0.214 | -0.662% |
| S3 | 0.212 | -1.55% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.250 | 16.28% |
| R2 | 0.240 | 11.63% |
| R1 | 0.220 | 2.33% |
| Price | 0.215 | |
| S1 | 0.210 | -2.33% |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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