Clarity Gold Corp. Stock Forecast
Big movements in Clarity Gold Corp. stock price on Tuesday moving 16.17% between high and low
(Updated on May 14, 2024)
The Clarity Gold Corp. stock price fell by -4.00% on the last day (Tuesday, 14th May 2024) from $0.0355 to $0.0341. During the last trading day the stock fluctuated 16.17% from a day low at $0.0324 to a day high of $0.0376. The price has fallen in 6 of the last 10 days and is down by -6.83% 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 -20 thousand shares and in total, 6 thousand shares were bought and sold for approximately $204.46 .
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 $0.0324 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 27.73% during the next 3 months and, with a 90% probability hold a price between $0.0414 and $0.0693 at the end of this 3-month period.
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CLGCF Signals & Forecast
There are few to no technical positive signals at the moment. The Clarity 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 $0.0363 and $0.0395. 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 12, 2024, and so far it has fallen -31.80%. 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 Clarity Gold Corp. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0324 and $0.0300. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Clarity Gold Corp. finds support just below today's level at $0.0324. If this is broken, then the next support from accumulated volume will be at $0.0300 and $0.0280.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0052 between high and low, or 16.17%. For the last week the stock has had daily average volatility of 19.37%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CLGCF) For The Upcoming Trading Day Of Wednesday 15th
For the upcoming trading day on Wednesday, 15th we expect Clarity Gold Corp. to open at $0.0347, and during the day (based on 14 day Average True Range), to move between $0.0266 and $0.0416, which gives a possible trading interval of +/-$0.0075 (+/-22.13%) up or down from last closing price. If Clarity Gold Corp. takes out the full calculated possible swing range there will be an estimated 44.26% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0350 (2.64%) than the support at $0.0324 (5.13%), 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 Clarity Gold Corp. stock A Buy?
The Clarity Gold Corp. stock holds several negative signals and despite the positive trend, we believe Clarity Gold Corp. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.460 Sell Candidate Unchanged
Predicted Opening Price for Clarity Gold Corp. of Wednesday, May 15, 2024
| Fair opening price May 15, 2024 | Current price |
|---|---|
| $0.0347 ( 1.80%) | $0.0341 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CLGCF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0400 | 17.17 % | |
| R2 | 0.0380 | 11.30 % | ||
| R1 | 0.0367 | 7.67 % | ||
| Current price: | 0.0341 | |||
| Support | S1 | 0.0327 | -4.07 % | |
| S2 | 0.0315 | -7.70 % | ||
| S3 | 0.0295 | -13.57 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0426 | 24.93 % | |
| R2 | 0.0391 | 14.66 % | ||
| R1 | 0.0350 | 2.64 % | ||
| Current price | 0.0341 | |||
| Support | S1 | 0.0324 | -5.13% | |
| S2 | 0.0300 | -12.02% | ||
| S3 | 0.0280 | -17.77% |
FAQ
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