Integra Resources Corp. Stock Forecast
Integra Resources Corp. stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 03, 2024)
The Integra Resources Corp. stock price gained 0.383% on the last trading day (Friday, 3rd May 2024), rising from $0.757 to $0.760. During the last trading day the stock fluctuated 4.12% from a day low at $0.733 to a day high of $0.763. The price has fallen in 6 of the last 10 days and is down by -12.61% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 172 thousand more shares were traded than the day before. In total, 252 thousand shares were bought and sold for approximately $191.67 thousand.
The stock lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.736 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 7.34% during the next 3 months and, with a 90% probability hold a price between $0.790 and $1.02 at the end of this 3-month period.
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ITRG Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 0.635%. Further rise is indicated until a new top pivot has been found. Integra Resources 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. The Integra Resources 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 $0.781 and $0.798. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Integra Resources Corp. stock
Integra Resources Corp. finds support from accumulated volume at $0.756 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0302 between high and low, or 4.12%. For the last week, the stock has had daily average volatility of 4.34%.
Our recommended stop-loss: $0.713 (-6.17%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (ITRG) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Integra Resources Corp. to open at $0.752, and during the day (based on 14 day Average True Range), to move between $0.715 and $0.81, which gives a possible trading interval of +/-$0.0457 (+/-6.01%) up or down from last closing price. If Integra Resources Corp. takes out the full calculated possible swing range there will be an estimated 12.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.756 (0.63%) than the resistance at $0.80 (5.22%), 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
Integra Resources Corp. will release earnings BMO on Friday, May 10, 2024. We will update the financials statements for Integra Resources Corp. , that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.49% in the first trading day after earnings release.
Is Integra Resources Corp. stock A Buy?
Integra Resources Corp. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.452 Hold/Accumulate Upgraded
Predicted Opening Price for Integra Resources Corp. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $0.752 ( 1.09%) | $0.760 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ITRG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.782 | 2.88 % | |
| R2 | 0.771 | 1.37 % | ||
| R1 | 0.764 | 0.430 % | ||
| Current price: | 0.760 | |||
| Support | S1 | 0.740 | -2.60 % | |
| S2 | 0.733 | -3.54 % | ||
| S3 | 0.722 | -5.06 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.87 | 13.77 % | |
| R2 | 0.82 | 7.33 % | ||
| R1 | 0.80 | 5.22 % | ||
| Current price | 0.760 | |||
| Support | S1 | 0.756 | -0.631% | |
| S2 | 0.751 | -1.20% | ||
| S3 | 0.693 | -8.85% |
FAQ
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