Fury Gold Mines Limited Stock Forecast
Big movements in Fury Gold Mines Limited stock price on Friday moving 23.15% between high and low
(Updated on May 17, 2024)
The Fury Gold Mines Limited stock price gained 23.24% on the last trading day (Friday, 17th May 2024), rising from $0.426 to $0.525. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 23.15% from a day low at $0.426 to a day high of $0.525. The price has risen in 5 of the last 10 days and is up by 31.22% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 352 thousand more shares were traded than the day before. In total, 466 thousand shares were bought and sold for approximately $244.59 thousand.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 17.96% during the next 3 months and, with a 90% probability hold a price between $0.470 and $0.733 at the end of this 3-month period.
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FURY Signals & Forecast
The Fury Gold Mines Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.426 and $0.469. 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). Fury Gold Mines Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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 Monday, April 08, 2024, and so far it has fallen -9.03%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Fury Gold Mines Limited stock
Fury Gold Mines Limited finds support from accumulated volume at $0.500 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 a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0987 between high and low, or 23.15%. For the last week, the stock has had daily average volatility of 9.12%.
Our recommended stop-loss: $0.497 (-5.37%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 29 days ago.)
Trading Expectations (FURY) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Fury Gold Mines Limited to open at $0.492, and during the day (based on 14 day Average True Range), to move between $0.491 and $0.559, which gives a possible trading interval of +/-$0.0343 (+/-6.54%) up or down from last closing price. If Fury Gold Mines Limited takes out the full calculated possible swing range there will be an estimated 13.07% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.540 (2.82%) than the support at $0.500 (4.78%), 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 Fury Gold Mines Limited 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 Fury Gold Mines Limited stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.159 Buy Candidate Upgraded
Predicted Opening Price for Fury Gold Mines Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.492 ( 6.27%) | $0.525 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FURY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.591 | 12.53 % | |
| R2 | 0.553 | 5.35 % | ||
| R1 | 0.530 | 0.91 % | ||
| Current price: | 0.525 | |||
| Support | S1 | 0.454 | -13.45 % | |
| S2 | 0.431 | -17.89 % | ||
| S3 | 0.393 | -25.07 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.577 | 9.92 % | |
| R2 | 0.558 | 6.29 % | ||
| R1 | 0.540 | 2.82 % | ||
| Current price | 0.525 | |||
| Support | S1 | 0.500 | -4.78% | |
| S2 | 0.440 | -16.19% | ||
| S3 | 0.400 | -23.79% |
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