NuLegacy Gold Corp Stock Forecast
Green day on Friday for NuLegacy Gold Corp
(Updated on May 17, 2024)
The NuLegacy Gold Corp stock price gained 1.25% on the last trading day (Friday, 17th May 2024), rising from $0.0080 to $0.0081. During the last trading day the stock fluctuated 7.41% from a day low at $0.0081 to a day high of $0.0087. The price has been going up and down for this period, and there has been a -14.74% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 460 thousand more shares were traded than the day before. In total, 470 thousand shares were bought and sold for approximately $3.80 thousand.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.0076 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -2.91% during the next 3 months and, with a 90% probability hold a price between $0.0073 and $0.0104 at the end of this 3-month period.
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NULGF Signals & Forecast
NuLegacy Gold 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. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The NuLegacy Gold 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 $0.0085 and $0.0088. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 19, 2024, and so far it has fallen -19.00%. 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).
Support, Risk & Stop-loss for NuLegacy Gold Corp stock
NuLegacy Gold Corp finds support from accumulated volume at $0.0080 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 $0.0006 between high and low, or 7.41%. For the last week, the stock has had daily average volatility of 5.12%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NULGF) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect NuLegacy Gold Corp to open at $0.0083, and during the day (based on 14 day Average True Range), to move between $0.0072 and $0.0090, which gives a possible trading interval of +/-$0.0009 (+/-11.31%) up or down from last closing price. If NuLegacy Gold Corp takes out the full calculated possible swing range there will be an estimated 22.61% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0080 (1.23%) than the resistance at $0.0082 (1.23%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is NuLegacy Gold Corp stock A Buy?
NuLegacy Gold Corp holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.660 Sell Candidate Unchanged
Predicted Opening Price for NuLegacy Gold Corp of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.0083 ( 2.47%) | $0.0081 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NULGF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0089 | 9.88 % | |
| R2 | 0.0087 | 7.05 % | ||
| R1 | 0.0085 | 5.30 % | ||
| Current price: | 0.0081 | |||
| Support | S1 | 0.0081 | -0.360 % | |
| S2 | 0.0079 | -2.11 % | ||
| S3 | 0.0077 | -4.94 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0100 | 23.46 % | |
| R2 | 0.0095 | 17.28 % | ||
| R1 | 0.0082 | 1.23 % | ||
| Current price | 0.0081 | |||
| Support | S1 | 0.0080 | -1.23% | |
| S2 | 0.0078 | -4.32% | ||
| S3 | 0 | . |
FAQ
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