Dynacor Gold Mines Inc. Stock Forecast

Red day on Friday for Dynacor Gold Mines Inc.
(Updated on May 10, 2024)

DNG.TO Signals & Forecast

The Dynacor Gold Mines Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $5.49 and $5.01. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, May 07, 2024, and so far it has fallen -1.93%. Further fall is indicated until a new bottom pivot has been found. The stock had a Golden Star Signal on Friday, February 23, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Wednesday, August 16, 2023.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Dynacor Gold Mines Inc. stock

On the downside, the stock finds support just below today's level from accumulated volume at $5.24 and $4.99. 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, Dynacor Gold Mines Inc. finds support just below today's level at $5.24. If this is broken, then the next support from accumulated volume will be at $4.99 and $4.97.

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 $0.0600 between high and low, or 1.08%. For the last week, the stock has had daily average volatility of 3.16%.

Our recommended stop-loss: $5.35 (-4.20%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 3 days ago.)

Trading Expectations (DNG.TO) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect Dynacor Gold Mines Inc. to open at $5.58, and during the day (based on 14 day Average True Range), to move between $5.45 and $5.71, which gives a possible trading interval of +/-$0.133 (+/-2.38%) up or down from last closing price. If Dynacor Gold Mines Inc. takes out the full calculated possible swing range there will be an estimated 4.75% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $5.69 (1.97%) than the support at $5.24 (6.09%), 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 Dynacor Gold Mines Inc. stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Dynacor Gold Mines Inc. stock to perform well in the short-term.

Current score: 2.467 Buy Candidate Unchanged

Predicted Opening Price for Dynacor Gold Mines Inc. of Monday, May 13, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.