Gold Resource Corp Stock Forecast

Buy or Hold candidate since Dec 19, 2024 Gain 61.40%

The Gold Resource Corp stock price fell by -6.29% on the last day (Friday, 17th Jan 2025) from $0.380 to $0.356. During the last trading day the stock fluctuated 11.40% from a day low at $0.350 to a day high of $0.390. The price has been going up and down for this period, and there has been a 60.45% 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 -5 million shares and in total, 2 million shares were bought and sold for approximately $620.92 thousand.

The stock lies in the upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $0.391 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 14.58% during the next 3 months and, with a 90% probability hold a price between $0.191 and $0.448 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 $0.326 and $0.223. 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). 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, January 15, 2025, and so far it has fallen -8.43%. Further fall is indicated until a new bottom pivot has been found. 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.

Support, Risk & Stop-loss for Gold Resource Corp stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.297 and $0.292. 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, Gold Resource Corp finds support just below today's level at $0.297. If this is broken, then the next support from accumulated volume will be at $0.292 and $0.272.

This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0399 between high and low, or 11.40%. For the last week the stock has had daily average volatility of 24.80%.

The Gold Resource Corp stock is overbought on RSI14 and the RSI has been falling for the last couple of days. This together with the fact that the stock is in the upper part of the trend poses a possible good selling opportunity for the short-term trader. However, one should note that some stock may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: $0.337 (-5.46%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 77 and this increases the risk substantially. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (GORO) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect Gold Resource Corp to open at $0.365, and during the day (based on 14 day Average True Range), to move between $0.308 and $0.405, which gives a possible trading interval of +/-$0.0486 (+/-13.63%) up or down from last closing price. If Gold Resource Corp takes out the full calculated possible swing range there will be an estimated 27.27% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.380 (6.71%) than the support at $0.297 (16.59%), 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 Gold Resource Corp stock A Buy?

Gold Resource Corp holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.398 Hold/Accumulate Unchanged

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Predicted Fair Opening Price

Predicted fair opening price on January 21, 2025 - $0.365 ( 2.59%).