Patriot Gold Corp. Stock Forecast
High volatility in Patriot Gold Corp. stock price on Monday which ended trading at $0.0799
(Updated on May 13, 2024)
No changes to the price of Patriot Gold Corp. stock on the last trading day (Monday, 13th May 2024). During the last trading day the stock fluctuated 17.50% from a day low at $0.0680 to a day high of $0.0799. The price has been going up and down for this period, and there has been a 13.33% gain for the last 2 weeks.
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 -21.84% during the next 3 months and, with a 90% probability hold a price between $0.0520 and $0.0694 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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PGOL Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, May 07, 2024, and so far it has risen 17.16%. 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 Patriot Gold Corp. 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 $0.0807. On a fall, the stock will find some support from the short-term average at $0.0762. 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 Patriot Gold Corp. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0709 and $0.0705. 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, Patriot Gold Corp. finds support just below today's level at $0.0709. If this is broken, then the next support from accumulated volume will be at $0.0705 and $0.0682.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0119 between high and low, or 17.50%. For the last week, the stock has had daily average volatility of 8.09%.
Our recommended stop-loss: $0.0768 (-3.94%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (PGOL) For The Upcoming Trading Day Of Tuesday 14th
For the upcoming trading day on Tuesday, 14th we expect Patriot Gold Corp. to open at $0.0759, and during the day (based on 14 day Average True Range), to move between $0.0735 and $0.0863, which gives a possible trading interval of +/-$0.0064 (+/-8.01%) up or down from last closing price. If Patriot Gold Corp. takes out the full calculated possible swing range there will be an estimated 16.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0849 (6.26%) than the support at $0.0709 (11.26%), 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 Patriot Gold Corp. stock A Buy?
Patriot Gold Corp. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, 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: 0.000 Hold/Accumulate Upgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Patriot Gold Corp. of Tuesday, May 14, 2024
| Fair opening price May 14, 2024 | Current price |
|---|---|
| $0.0759 ( 4.96%) | $0.0799 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PGOL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0878 | 9.93 % | |
| R2 | 0.0833 | 4.24 % | ||
| R1 | 0.0805 | 0.725 % | ||
| Current price: | 0.0799 | |||
| Support | S1 | 0.0714 | -10.65 % | |
| S2 | 0.0686 | -14.17 % | ||
| S3 | 0.0640 | -19.86 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0990 | 23.90 % | |
| R2 | 0.0903 | 13.02 % | ||
| R1 | 0.0849 | 6.26 % | ||
| Current price | 0.0799 | |||
| Support | S1 | 0.0709 | -11.26% | |
| S2 | 0.0705 | -11.76% | ||
| S3 | 0.0682 | -14.64% |
FAQ
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