Gold Royalty Corp. Stock Forecast
Weaker technical forecast for Gold Royalty Corp. as stock downgraded to Sell Candidate.
(Updated on Apr 18, 2024)
The Gold Royalty Corp. stock price fell by -0.518% on the last day (Thursday, 18th Apr 2024) from $1.93 to $1.92. During the last trading day the stock fluctuated 3.44% from a day low at $1.89 to a day high of $1.96. The price has fallen in 7 of the last 10 days and is down by -3.52% for this period. 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 -194 thousand shares and in total, 365 thousand shares were bought and sold for approximately $699.94 thousand.
Given the current short-term trend, the stock is expected to rise 56.32% during the next 3 months and, with a 90% probability hold a price between $3.00 and $3.49 at the end of this 3-month period.
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GROY Signals & Forecast
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. The Gold Royalty Corp. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $1.96 and $1.93. 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 -8.13%. 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 Royalty Corp. stock
Gold Royalty Corp. finds support from accumulated volume at $1.84 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0650 between high and low, or 3.44%. For the last week the stock has had daily average volatility of 5.61%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GROY) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Gold Royalty Corp. to open at $1.92, and during the day (based on 14 day Average True Range), to move between $1.81 and $2.03, which gives a possible trading interval of +/-$0.111 (+/-5.77%) up or down from last closing price. If Gold Royalty Corp. takes out the full calculated possible swing range there will be an estimated 11.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.93 (0.52%) than the support at $1.84 (4.17%), 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 Royalty Corp. stock A Buy?
The Gold Royalty Corp. stock holds several negative signals and despite the positive trend, we believe Gold Royalty Corp. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -2.034 Sell Candidate Downgraded
Predicted Opening Price for Gold Royalty Corp. of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $1.92 ( 0.0868%) | $1.92 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GROY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.99 | 3.47 % | |
| R2 | 1.96 | 2.18 % | ||
| R1 | 1.95 | 1.38 % | ||
| Current price: | 1.92 | |||
| Support | S1 | 1.90 | -1.21 % | |
| S2 | 1.88 | -2.01 % | ||
| S3 | 1.86 | -3.30 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.09 | 8.85 % | |
| R2 | 1.99 | 3.65 % | ||
| R1 | 1.93 | 0.521 % | ||
| Current price | 1.92 | |||
| Support | S1 | 1.84 | -4.17% | |
| S2 | 1.72 | -10.42% | ||
| S3 | 1.49 | -22.40% |
GROY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 23, 2023 | Jun 16, 2023 | Jun 30, 2023 | $0.0100 | 0.565% |
| 2 | Feb 16, 2023 | Mar 30, 2023 | Apr 13, 2023 | $0.0100 | 0.412% |
| 3 | Nov 18, 2022 | Dec 14, 2022 | Dec 30, 2022 | $0.0100 | 0.429% |
| 4 | Aug 24, 2022 | Sep 19, 2022 | Sep 30, 2022 | $0.0100 | 0.394% |
| 5 | May 24, 2022 | Jun 16, 2022 | Jun 30, 2022 | $0.0100 | 0.444% |
FAQ
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