K2 Gold Corporation Stock Forecast

Red day on Tuesday for K2 Gold Corporation
(Updated on May 07, 2024)

KTGDF Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, May 06, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The K2 Gold Corporation 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 $0.0851 and $0.0952. 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). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for K2 Gold Corporation stock

K2 Gold Corporation finds support from accumulated volume at $0.0699 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and therefore the general risk is considered very 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 between high and low, or 0%. For the last week the stock has had daily average volatility of 1.52%

K2 Gold Corporation is oversold on RSI14 (15). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

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

Trading Expectations (KTGDF) For The Upcoming Trading Day Of Wednesday 8th

For the upcoming trading day on Wednesday, 8th we expect K2 Gold Corporation to open at $0.0710, and during the day (based on 14 day Average True Range), to move between $0.0641 and $0.0779, which gives a possible trading interval of +/-$0.0069 (+/-9.69%) up or down from last closing price. If K2 Gold Corporation takes out the full calculated possible swing range there will be an estimated 19.38% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0699 (1.55%) than the resistance at $0.0750 (5.63%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is K2 Gold Corporation stock A Buy?

The K2 Gold Corporation stock holds several negative signals and despite the positive trend, we believe K2 Gold Corporation will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -4.237 Sell Candidate Unchanged

Predicted Opening Price for K2 Gold Corporation of Wednesday, May 8, 2024

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