Goldsource Mines Inc. Stock Forecast
Goldsource Mines Inc. stock price ended at $0.533 on Thursday, after gaining 0.490%.
(Updated on May 30, 2024)
The Goldsource Mines Inc. stock price gained 0.490% on the last trading day (Thursday, 30th May 2024), rising from $0.530 to $0.533. During the last trading day the stock fluctuated 3.66% from a day low at $0.533 to a day high of $0.552. The price has fallen in 7 of the last 10 days and is down by -5.33% for this period. Volume fell on the last day by -9 thousand shares and in total, 10 thousand shares were bought and sold for approximately $5.51 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
Given the current short-term trend, the stock is expected to rise 113.19% during the next 3 months and, with a 90% probability hold a price between $1.14 and $1.49 at the end of this 3-month period.
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GXSFF Signals & Forecast
There are few to no technical positive signals at the moment. The Goldsource Mines Inc. 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 $0.547 and $0.534. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 02, 2024, and so far it has fallen -8.94%. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Goldsource Mines Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.503 and $0.486. 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, Goldsource Mines Inc. finds support just below today's level at $0.503. If this is broken, then the next support from accumulated volume will be at $0.486 and $0.452.
In general the stock tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved $0.0195 between high and low, or 3.66%. For the last week the stock has had daily average volatility of 2.37%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GXSFF) For The Upcoming Trading Day Of Friday 31st
For the upcoming trading day on Friday, 31st we expect Goldsource Mines Inc. to open at $0.539, and during the day (based on 14 day Average True Range), to move between $0.514 and $0.552, which gives a possible trading interval of +/-$0.0190 (+/-3.57%) up or down from last closing price. If Goldsource Mines Inc. takes out the full calculated possible swing range there will be an estimated 7.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.538 (0.92%) than the support at $0.503 (5.56%), 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.
Earnings coming up
Goldsource Mines Inc. will release earnings BMO on Friday, June 07, 2024. We will update the financials statements for Goldsource Mines Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.28% in the first trading day after earnings release.
Is Goldsource Mines Inc. stock A Buy?
The Goldsource Mines Inc. stock holds several negative signals and despite the positive trend, we believe Goldsource Mines Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.004 Sell Candidate Unchanged
Predicted Opening Price for Goldsource Mines Inc. of Friday, May 31, 2024
| Fair opening price May 31, 2024 | Current price |
|---|---|
| $0.539 ( 1.22%) | $0.533 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GXSFF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.559 | 4.88 % | |
| R2 | 0.551 | 3.48 % | ||
| R1 | 0.547 | 2.62 % | ||
| Current price: | 0.533 | |||
| Support | S1 | 0.532 | -0.178 % | |
| S2 | 0.527 | -1.04 % | ||
| S3 | 0.520 | -2.44 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.585 | 9.82 % | |
| R2 | 0.561 | 5.37 % | ||
| R1 | 0.538 | 0.92 % | ||
| Current price | 0.533 | |||
| Support | S1 | 0.503 | -5.56% | |
| S2 | 0.486 | -8.77% | ||
| S3 | 0.452 | -15.07% |
FAQ
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