Cassiar Gold Corp. Stock Forecast
Cassiar Gold Corp. stock downgraded to Sell Candidate
(Updated on Jun 14, 2024)
No changes to the price of Cassiar Gold Corp. stock on the last trading day (Friday, 14th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at $0.205 to a day high of $0.205. The price has fallen in 5 of the last 10 days and is down by -10.09% for this period.
The stock lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.193 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 4.66% during the next 3 months and, with a 90% probability hold a price between $0.202 and $0.267 at the end of this 3-month period.
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CGLCF Signals & Forecast
There are few to no technical positive signals at the moment. The Cassiar Gold Corp. 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 $0.212 and $0.209. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 29, 2024, and so far it has fallen -13.74%. 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 on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Cassiar Gold Corp. stock
Cassiar Gold Corp. finds support from accumulated volume at $0.198 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 between high and low, or 0%. For the last week the stock has had daily average volatility of 0.476%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CGLCF) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect Cassiar Gold Corp. to open at $0.205, and during the day (based on 14 day Average True Range), to move between $0.193 and $0.217, which gives a possible trading interval of +/-$0.0123 (+/-6.01%) up or down from last closing price. If Cassiar Gold Corp. takes out the full calculated possible swing range there will be an estimated 12.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.198 (3.32%) than the resistance at $0.221 (7.85%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Cassiar Gold Corp. stock A Buy?
The Cassiar Gold Corp. stock holds several negative signals and despite the positive trend, we believe Cassiar Gold Corp. 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 Sell candidate.
Current score: -1.584 Sell Candidate Downgraded
Predicted Opening Price for Cassiar Gold Corp. of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| $0.205 ( 0%) | $0.205 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CGLCF
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.205 | - |
| R2 | 0.205 | - |
| R1 | 0.205 | - |
| Price | 0.205 | |
| S1 | 0.205 | - |
| S2 | 0.205 | - |
| S3 | 0.205 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.238 | 16.20% |
| R2 | 0.227 | 10.71% |
| R1 | 0.221 | 7.85% |
| Price | 0.205 | |
| S1 | 0.198 | -3.32% |
| S2 | 0.195 | -4.90% |
| S3 | 0.190 | -7.32% |
FAQ
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