Cassiar Gold Corp. Stock Forecast
Red day on Tuesday for Cassiar Gold Corp.
(Updated on Jun 25, 2024)
The Cassiar Gold Corp. stock price fell by -0.90% on the last day (Tuesday, 25th Jun 2024) from $0.210 to $0.208. During the last trading day the stock fluctuated 0% from a day low at $0.208 to a day high of $0.208. The price has been going up and down for this period, and there has been a -0.9% loss for the last 2 weeks. Volume has increased on the last day by 5 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, 5 thousand shares were bought and sold for approximately $936.45 .
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Cassiar Gold Corp. stock with a 90% probability to be traded between $0.190 and $0.248 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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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. 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 $0.208 and $0.211. 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 -12.43%. 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). Cassiar 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 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 and with good trading volume, the risk is considered to be medium. 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 0.544%.
Our recommended stop-loss: $0.197 (-5.37%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 28 days ago.)
Trading Expectations (CGLCF) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Cassiar Gold Corp. to open at $0.208, and during the day (based on 14 day Average True Range), to move between $0.199 and $0.217, which gives a possible trading interval of +/-$0.0087 (+/-4.16%) up or down from last closing price. If Cassiar Gold Corp. takes out the full calculated possible swing range there will be an estimated 8.32% 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 (4.76%) than the resistance at $0.221 (6.25%), 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?
Cassiar Gold Corp. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Cassiar Gold Corp. of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $0.208 ( 0.00000000%) | $0.208 |
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 | 0.208 | 0.00000000% |
| R2 | 0.208 | 0.00000000% |
| R1 | 0.208 | 0.00000000% |
| Price | 0.208 | |
| S1 | 0.208 | 0.00000000% |
| S2 | 0.208 | 0.00000000% |
| S3 | 0.208 | 0.00000000% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.238 | 14.46% |
| R2 | 0.227 | 9.06% |
| R1 | 0.221 | 6.25% |
| Price | 0.208 | |
| S1 | 0.198 | -4.76% |
| S2 | 0.195 | -6.32% |
| S3 | 0.190 | -8.70% |
FAQ
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