P2 Gold Inc. Stock Forecast
Red day on Thursday for P2 Gold Inc.
(Updated on Jul 04, 2024)
No changes to the price of P2 Gold Inc. stock on the last trading day (Thursday, 4th Jul 2024). During the last trading day the stock fluctuated 0% from a day low at $0.0800 to a day high of $0.0800. The price has fallen in 4 of the last 10 days.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -45.71% during the next 3 months and, with a 90% probability hold a price between $0.0298 and $0.0579 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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PGLD.V Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 23.08%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". 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 P2 Gold Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $0.104. On a fall, the stock will find some support from the short-term average at $0.0771. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for P2 Gold Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0750 and $0.0700. 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, P2 Gold Inc. finds support just below today's level at $0.0750. If this is broken, then the next support from accumulated volume will be at $0.0700 and $0.0650.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". 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 5.25%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PGLD.V) For The Upcoming Trading Day Of Friday 5th
For the upcoming trading day on Friday, 5th we expect P2 Gold Inc. to open at $0.0800, and during the day (based on 14 day Average True Range), to move between $0.0724 and $0.0876, which gives a possible trading interval of +/-$0.0076 (+/-9.56%) up or down from last closing price. If P2 Gold Inc. takes out the full calculated possible swing range there will be an estimated 19.11% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0850 (6.25%) than the support at $0.0750 (6.25%), 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.
Is P2 Gold Inc. stock A Buy?
P2 Gold Inc. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -3.276 Sell Candidate Unchanged
Predicted Opening Price for P2 Gold Inc. of Friday, July 5, 2024
Fair opening price July 5, 2024 | Current price |
---|---|
$0.0800 ( 0%) | $0.0800 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PGLD.V
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.0800 | - |
R2 | 0.0800 | - |
R1 | 0.0800 | - |
Price | 0.0800 | |
S1 | 0.0800 | - |
S2 | 0.0800 | - |
S3 | 0.0800 | - |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0 | - |
R2 | 0.0950 | 18.75% |
R1 | 0.0850 | 6.25% |
Price | 0.0800 | |
S1 | 0.0750 | -6.25% |
S2 | 0.0700 | -12.50% |
S3 | 0.0650 | -18.75% |
FAQ
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