Gold Resource Corp Stock Forecast

Gold Resource Corp stock price fell more than -6.94% Friday closing at $0.432
(Updated on May 03, 2024)

GORO Signals & Forecast

There are few to no technical positive signals at the moment. The Gold Resource Corp stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.476 and $0.482. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -33.53%. 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). 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 $0.410 and $0.396. 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 $0.410. If this is broken, then the next support from accumulated volume will be at $0.396 and $0.384.

This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0400 between high and low, or 9.30%. For the last week the stock has had daily average volatility of 10.20%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (GORO) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Gold Resource Corp to open at $0.444, and during the day (based on 14 day Average True Range), to move between $0.379 and $0.485, which gives a possible trading interval of +/-$0.0535 (+/-12.38%) up or down from last closing price. If Gold Resource Corp takes out the full calculated possible swing range there will be an estimated 24.75% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.410 (5.09%) than the resistance at $0.490 (13.43%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Gold Resource Corp stock A Buy?

The Gold Resource Corp stock holds several negative signals and despite the positive trend, we believe Gold Resource Corp will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -1.871 Sell Candidate Unchanged

Predicted Opening Price for Gold Resource Corp of Monday, May 6, 2024

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