Freeman Gold Corp. Stock Forecast
Red day on Thursday for Freeman Gold Corp.
(Updated on May 16, 2024)
The Freeman Gold Corp. stock price fell by -1.16% on the last day (Thursday, 16th May 2024) from $0.0860 to $0.0850. During the last trading day the stock fluctuated 6.36% from a day low at $0.0809 to a day high of $0.0860. The price has been going up and down for this period, and there has been a 2.53% gain for the last 2 weeks. 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 -40 thousand shares and in total, 74 thousand shares were bought and sold for approximately $6.30 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 $0.0841 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 34.78% during the next 3 months and, with a 90% probability hold a price between $0.113 and $0.167 at the end of this 3-month period.
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FMANF Signals & Forecast
There are mixed signals in the stock today. The Freeman Gold Corp. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $0.0913. On a fall, the stock will find some support from the short-term average at $0.0841. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Friday, April 12, 2024, and so far it has fallen -23.70%. 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 Freeman Gold Corp. stock
Freeman Gold Corp. finds support from accumulated volume at $0.0829 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.0051 between high and low, or 6.36%. For the last week the stock has had daily average volatility of 2.99%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FMANF) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect Freeman Gold Corp. to open at $0.0840, and during the day (based on 14 day Average True Range), to move between $0.0802 and $0.0898, which gives a possible trading interval of +/-$0.0048 (+/-5.59%) up or down from last closing price. If Freeman Gold Corp. takes out the full calculated possible swing range there will be an estimated 11.18% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0860 (1.18%) than the support at $0.0829 (2.47%), 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 Freeman Gold Corp. stock A Buy?
Freeman Gold Corp. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -3.448 Sell Candidate Unchanged
Predicted Opening Price for Freeman Gold Corp. of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| $0.0840 ( 1.23%) | $0.0850 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FMANF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0891 | 4.82 % | |
| R2 | 0.0871 | 2.51 % | ||
| R1 | 0.0859 | 1.08 % | ||
| Current price: | 0.0850 | |||
| Support | S1 | 0.0820 | -3.54 % | |
| S2 | 0.0808 | -4.97 % | ||
| S3 | 0.0788 | -7.28 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0991 | 16.59 % | |
| R2 | 0.0877 | 3.18 % | ||
| R1 | 0.0860 | 1.18 % | ||
| Current price | 0.0850 | |||
| Support | S1 | 0.0829 | -2.47% | |
| S2 | 0.0800 | -5.88% | ||
| S3 | 0.0710 | -16.47% |
FAQ
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