Banyan Gold Corp. Stock Forecast
High volatility in Banyan Gold Corp. stock price on Thursday which ended trading at $0.208
(Updated on Jun 13, 2024)
The Banyan Gold Corp. stock price fell by -13.33% on the last day (Thursday, 13th Jun 2024) from $0.240 to $0.208. During the last trading day the stock fluctuated 13.86% from a day low at $0.202 to a day high of $0.230. The price has risen in 5 of the last 10 days but is still down by -6.56% for this period. Volume has increased on the last day by 57 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, 89 thousand shares were bought and sold for approximately $18.59 thousand.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -9.74% during the next 3 months and, with a 90% probability hold a price between $0.180 and $0.217 at the end of this 3-month period.
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BYAGF 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 Banyan Gold Corp. 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 $0.228 and $0.232. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 26, 2024, and so far it has fallen -18.08%. Further fall is indicated until a new bottom pivot has been found. Banyan Gold Corp. 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 Banyan Gold Corp. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.0280 between high and low, or 13.86%. For the last week, the stock has had daily average volatility of 3.81%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BYAGF) For The Upcoming Trading Day Of Friday 14th
For the upcoming trading day on Friday, 14th we expect Banyan Gold Corp. to open at $0.213, and during the day (based on 14 day Average True Range), to move between $0.197 and $0.219, which gives a possible trading interval of +/-$0.0110 (+/-5.30%) up or down from last closing price. If Banyan Gold Corp. takes out the full calculated possible swing range there will be an estimated 10.61% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.227, some $0.0190 (9.13%) from the current price of $0.208, our system finds the risk reward not very attractive.
Is Banyan Gold Corp. stock A Buy?
Banyan Gold Corp. holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore 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 Buy to a Sell candidate.
Current score: -4.695 Sell Candidate Downgraded
Predicted Opening Price for Banyan Gold Corp. of Friday, June 14, 2024
| Fair opening price June 14, 2024 | Current price |
|---|---|
| $0.213 ( 2.56%) | $0.208 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BYAGF
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.241 | 16.03% |
| R2 | 0.231 | 10.88% |
| R1 | 0.224 | 7.71% |
| Price | 0.208 | |
| S1 | 0.203 | -2.58% |
| S2 | 0.196 | -5.76% |
| S3 | 0.185 | -10.90% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.254 | 22.10% |
| R2 | 0.250 | 20.19% |
| R1 | 0.227 | 9.13% |
| Price | 0.208 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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