Galleon Gold Corp. Stock Forecast
Galleon Gold Corp. stock downgraded from Hold/Accumulate to Sell Candidate after Monday trading session.
(Updated on Jun 24, 2024)
No changes to the price of Galleon Gold Corp. stock on the last trading day (Monday, 24th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at $0.142 to a day high of $0.142. The price has been going up and down for this period, and there has been a -12.62% loss for the last 2 weeks.
The stock has broken the very wide and strong rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $0.143. A reaction back to this level may hold a second chance to get out before further falls.
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PNCKF Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 21, 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 Galleon 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 $0.148 and $0.169. 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 Galleon Gold Corp. stock
Galleon Gold Corp. finds support from accumulated volume at $0.142 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 2.54%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PNCKF) For The Upcoming Trading Day Of Tuesday 25th
For the upcoming trading day on Tuesday, 25th we expect Galleon Gold Corp. to open at $0.142, and during the day (based on 14 day Average True Range), to move between $0.138 and $0.146, which gives a possible trading interval of +/-$0.0045 (+/-3.16%) up or down from last closing price. If Galleon Gold Corp. takes out the full calculated possible swing range there will be an estimated 6.31% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.142 (0.21%) than the resistance at $0.144 (1.41%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Galleon Gold Corp. stock A Buy?
The Galleon Gold Corp. stock holds several negative signals and despite the positive trend, we believe Galleon Gold Corp. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -4.063 Sell Candidate Downgraded
Predicted Opening Price for Galleon Gold Corp. of Tuesday, June 25, 2024
Fair opening price June 25, 2024 | Current price |
---|---|
$0.142 ( 0%) | $0.142 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PNCKF
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.142 | - |
R2 | 0.142 | - |
R1 | 0.142 | - |
Price | 0.142 | |
S1 | 0.142 | - |
S2 | 0.142 | - |
S3 | 0.142 | - |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.150 | 5.63% |
R2 | 0.145 | 2.11% |
R1 | 0.144 | 1.41% |
Price | 0.142 | |
S1 | 0.142 | -0.211% |
S2 | 0.142 | -0.352% |
S3 | 0.120 | -15.49% |
FAQ
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