Galiano Gold Inc. Stock Forecast
Galiano Gold Inc. stock upgraded to Strong Buy Candidate.
(Updated on May 10, 2024)
The Galiano Gold Inc. stock price gained 4.74% on the last trading day (Friday, 10th May 2024), rising from $2.32 to $2.43. During the last trading day the stock fluctuated 4.74% from a day low at $2.32 to a day high of $2.43. The price has fallen in 5 of the last 10 days but is still up by 13.02% 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, 35 thousand more shares were traded than the day before. In total, 271 thousand shares were bought and sold for approximately $659.74 thousand.
The stock lies in the middle of a 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 89.56% during the next 3 months and, with a 90% probability hold a price between $4.17 and $4.94 at the end of this 3-month period.
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GAU.TO Signals & Forecast
Mostly positive signals in the chart today. The Galiano Gold 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 $2.35 and $2.07. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 24, 2024, and so far it has risen 23.98%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Galiano Gold Inc. 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. The stock had a Golden Star Signal on Friday, August 18, 2023 in the long-term chart.
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.
Golden Star 12 Months
The stock had a Golden Star Signal on Friday, August 18, 2023 in the long-term chart.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 Galiano Gold Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $2.06 and $2.05. 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, Galiano Gold Inc. finds support just below today's level at $2.06. If this is broken, then the next support from accumulated volume will be at $2.05 and $1.98.
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 $0.110 between high and low, or 4.74%. For the last week, the stock has had daily average volatility of 5.09%.
Our recommended stop-loss: $2.35 (-3.48%) (This stock has high daily movements and this gives high risk. The RSI14 is 76 and this increases the risk substantially. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (GAU.TO) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Galiano Gold Inc. to open at $2.39, and during the day (based on 14 day Average True Range), to move between $2.29 and $2.57, which gives a possible trading interval of +/-$0.139 (+/-5.72%) up or down from last closing price. If Galiano Gold Inc. takes out the full calculated possible swing range there will be an estimated 11.45% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $2.06, some $0.370 (15.23%) from the current price of $2.43, our system finds the risk reward attractive.
Is Galiano Gold Inc. stock A Buy?
Galiano Gold Inc. holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.034 Strong Buy Candidate Upgraded
Predicted Opening Price for Galiano Gold Inc. of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| $2.39 ( 1.51%) | $2.43 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GAU.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.50 | 3.02 % | |
| R2 | 2.46 | 1.29 % | ||
| R1 | 2.44 | 0.220 % | ||
| Current price: | 2.43 | |||
| Support | S1 | 2.35 | -3.24 % | |
| S2 | 2.33 | -4.31 % | ||
| S3 | 2.28 | -6.04 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 2.43 | |||
| Support | S1 | 2.06 | -15.23% | |
| S2 | 2.05 | -15.64% | ||
| S3 | 1.98 | -18.52% |
FAQ
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