Giga Metals Corporation Stock Forecast

Giga Metals Corporation stock price up more than 6.06% on Friday
(Updated on Jun 14, 2024)

GIGA.V Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, June 06, 2024, and so far it has risen 6.06%. Further rise is indicated until a new top pivot has been found. Giga Metals Corporation 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. 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. The Giga Metals Corporation 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 $0.184. On a fall, the stock will find some support from the short-term average at $0.168. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Giga Metals Corporation stock

Giga Metals Corporation finds support from accumulated volume at $0.170 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 $0.0050 between high and low, or 2.94%. For the last week, the stock has had daily average volatility of 3.05%.

Our recommended stop-loss: $0.165 (-5.96%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 18 days ago.)

Trading Expectations (GIGA.V) For The Upcoming Trading Day Of Monday 17th

For the upcoming trading day on Monday, 17th we expect Giga Metals Corporation to open at $0.173, and during the day (based on 14 day Average True Range), to move between $0.164 and $0.186, which gives a possible trading interval of +/-$0.0108 (+/-6.16%) up or down from last closing price. If Giga Metals Corporation takes out the full calculated possible swing range there will be an estimated 12.32% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.170 (2.86%) than the resistance at $0.180 (2.86%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Giga Metals Corporation 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 Giga Metals Corporation 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: 1.168 Buy Candidate Upgraded

Predicted Opening Price for Giga Metals Corporation of Monday, June 17, 2024

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