Evergold Corp. Stock Forecast
A very red day for Evergold Corp. stock price after a -12.50% fall in the Friday trading session
(Updated on May 31, 2024)
The Evergold Corp. stock price fell by -12.50% on the last day (Friday, 31st May 2024) from $0.0400 to $0.0350. During the last trading day the stock fluctuated 0% from a day low at $0.0350 to a day high of $0.0350. The price has been going up and down for this period, and there has been a -22.22% loss for the last 2 weeks. Volume has increased on the last day by 400 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, 400 thousand shares were bought and sold for approximately $14.00 thousand.
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 $0.0346 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 28.39% during the next 3 months and, with a 90% probability hold a price between $0.0444 and $0.0804 at the end of this 3-month period.
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EVER.V 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 Evergold 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 $0.0393 and $0.0429. 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 -36.36%. Further fall is indicated until a new bottom pivot has been found. Evergold 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 Evergold Corp. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0300. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the stock price.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high 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%.
Our recommended stop-loss: $0.0333 (-5.00%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 35 days ago.)
Trading Expectations (EVER.V) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Evergold Corp. to open at $0.0350, and during the day (based on 14 day Average True Range), to move between $0.0327 and $0.0373, which gives a possible trading interval of +/-$0.0023 (+/-6.66%) up or down from last closing price. If Evergold Corp. takes out the full calculated possible swing range there will be an estimated 13.32% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0400 (14.29%) than the support at $0.0300 (14.29%), 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 Evergold Corp. stock A Buy?
Evergold 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
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 Evergold Corp. of Monday, June 3, 2024
Fair opening price June 3, 2024 | Current price |
---|---|
$0.0350 ( 0%) | $0.0350 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EVER.V
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.0350 | . | |
R2 | 0.0350 | . | ||
R1 | 0.0350 | . | ||
Current price: | 0.0350 | |||
Support | S1 | 0.0350 | . | |
S2 | 0.0350 | . | ||
S3 | 0.0350 | . |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0.0400 | 14.29 % | ||
Current price | 0.0350 | |||
Support | S1 | 0.0300 | -14.29% | |
S2 | 0 | . | ||
S3 | 0 | . |
FAQ
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