Gold Resource Corp Stock Forecast
High volatility in Gold Resource Corp stock price on Tuesday which ended trading at $0.500
(Updated on Apr 23, 2024)
The Gold Resource Corp stock price gained 9.63% on the last trading day (Tuesday, 23rd Apr 2024), rising from $0.456 to $0.500. During the last trading day the stock fluctuated 10.87% from a day low at $0.460 to a day high of $0.510. The price has fallen in 6 of the last 10 days and is down by -11.44% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 80 thousand more shares were traded than the day before. In total, 703 thousand shares were bought and sold for approximately $351.53 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 $0.460 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 95.77% during the next 3 months and, with a 90% probability hold a price between $0.90 and $1.43 at the end of this 3-month period.
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GORO Signals & Forecast
The Gold Resource Corp 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 $0.495 and $0.450. A breakdown below any of these levels will issue sell signals. Gold Resource Corp 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 Wednesday, April 03, 2024, and so far it has fallen -23.08%. 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).
Support, Risk & Stop-loss for Gold Resource Corp stock
Gold Resource Corp finds support from accumulated volume at $0.490 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0500 between high and low, or 10.87%. For the last week, the stock has had daily average volatility of 14.09%.
Our recommended stop-loss: $0.468 (-6.44%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 14 days ago.)
Trading Expectations (GORO) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Gold Resource Corp to open at $0.490, and during the day (based on 14 day Average True Range), to move between $0.438 and $0.562, which gives a possible trading interval of +/-$0.0624 (+/-12.48%) up or down from last closing price. If Gold Resource Corp takes out the full calculated possible swing range there will be an estimated 24.96% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.490 (1.98%) than the resistance at $0.512 (2.38%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Gold Resource Corp will release earnings BMO on Wednesday, May 01, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.0900. We will update the financials statements for Gold Resource Corp, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.37% in the first trading day after earnings release.
Is Gold Resource Corp 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 Gold Resource Corp stock to perform well in the short-term.
Current score: 3.516 Buy Candidate Unchanged
Predicted Opening Price for Gold Resource Corp of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $0.490 ( 1.99%) | $0.500 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GORO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.540 | 8.01 % | |
| R2 | 0.521 | 4.19 % | ||
| R1 | 0.509 | 1.83 % | ||
| Current price: | 0.500 | |||
| Support | S1 | 0.471 | -5.81 % | |
| S2 | 0.459 | -8.17 % | ||
| S3 | 0.440 | -11.99 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.612 | 22.42 % | |
| R2 | 0.577 | 15.36 % | ||
| R1 | 0.512 | 2.38 % | ||
| Current price | 0.500 | |||
| Support | S1 | 0.490 | -1.98% | |
| S2 | 0.410 | -17.98% | ||
| S3 | 0.396 | -20.78% |
GORO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Oct 31, 2022 | Dec 14, 2022 | Dec 30, 2022 | $0.0100 | 0.654% |
| 2 | Jul 28, 2022 | Sep 14, 2022 | Sep 30, 2022 | $0.0100 | 0.606% |
| 3 | Apr 28, 2022 | Jun 14, 2022 | Jun 30, 2022 | $0.0100 | 0.613% |
| 4 | Feb 24, 2022 | Mar 14, 2022 | Mar 31, 2022 | $0.0100 | 0.446% |
| 5 | Oct 28, 2021 | Dec 14, 2021 | Dec 29, 2021 | $0.0100 | 0.629% |
FAQ
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