Maple Gold Mines Ltd Stock Forecast
Maple Gold Mines Ltd stock upgraded from Strong Sell Candidate to Sell Candidate after Friday trading session.
(Updated on May 03, 2024)
The Maple Gold Mines Ltd stock price fell by -4.93% on the last day (Friday, 3rd May 2024) from $0.0500 to $0.0475. During the last trading day the stock fluctuated 7.68% from a day low at $0.0475 to a day high of $0.0512. The price has fallen in 6 of the last 10 days and is down by -9.11% for this period. Volume has increased on the last day by 76 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 158 thousand shares were bought and sold for approximately $7.50 thousand.
Given the current short-term trend, the stock is expected to rise 38.61% during the next 3 months and, with a 90% probability hold a price between $0.0659 and $0.0837 at the end of this 3-month period.
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MGMLF Signals & Forecast
There are few to no technical positive signals at the moment. The Maple Gold Mines Ltd 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 $0.0501 and $0.0501. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 02, 2024, and so far it has fallen -12.22%. 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). Maple Gold Mines Ltd gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Maple Gold Mines Ltd stock
Maple Gold Mines Ltd finds support from accumulated volume at $0.0472 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 $0.0037 between high and low, or 7.68%. For the last week, the stock has had daily average volatility of 2.81%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MGMLF) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Maple Gold Mines Ltd to open at $0.0487, and during the day (based on 14 day Average True Range), to move between $0.0442 and $0.0508, which gives a possible trading interval of +/-$0.0033 (+/-6.93%) up or down from last closing price. If Maple Gold Mines Ltd takes out the full calculated possible swing range there will be an estimated 13.86% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0472 (0.70%) than the resistance at $0.0517 (8.76%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Maple Gold Mines Ltd stock A Buy?
The Maple Gold Mines Ltd stock holds several negative signals and despite the positive trend, we believe Maple Gold Mines Ltd will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -2.780 Sell Candidate Upgraded
Predicted Opening Price for Maple Gold Mines Ltd of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $0.0487 ( 2.51%) | $0.0475 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MGMLF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0524 | 10.19 % | |
| R2 | 0.0510 | 7.26 % | ||
| R1 | 0.0501 | 5.44 % | ||
| Current price: | 0.0475 | |||
| Support | S1 | 0.0473 | -0.423 % | |
| S2 | 0.0465 | -2.23 % | ||
| S3 | 0.0451 | -5.17 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0540 | 13.60 % | |
| R2 | 0.0520 | 9.39 % | ||
| R1 | 0.0517 | 8.76 % | ||
| Current price | 0.0475 | |||
| Support | S1 | 0.0472 | -0.705% | |
| S2 | 0.0450 | -5.33% | ||
| S3 | 0.0439 | -7.59% |
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