Paramount Gold and Silver Corp Stock Forecast
Green day on Friday for Paramount Gold and Silver Corp stock after gaining 0.749%
(Updated on Apr 26, 2024)
The Paramount Gold and Silver Corp stock price gained 0.749% on the last trading day (Friday, 26th Apr 2024), rising from $0.441 to $0.444. During the last trading day the stock fluctuated 1.79% from a day low at $0.441 to a day high of $0.449. The price has been going up and down for this period, and there has been a -3.54% loss for the last 2 weeks. Volume fell on the last day by -21 thousand shares and in total, 40 thousand shares were bought and sold for approximately $17.83 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 35.65% during the next 3 months and, with a 90% probability hold a price between $0.536 and $0.669 at the end of this 3-month period.
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PZG Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -5.55%. 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). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. The Paramount Gold and Silver Corp stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.441 and $0.423. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Paramount Gold and Silver Corp stock
Paramount Gold and Silver Corp finds support from accumulated volume at $0.440 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0079 between high and low, or 1.79%. For the last week the stock has had daily average volatility of 2.94%.
Our recommended stop-loss: $0.423 (-4.64%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 11 days ago.)
Trading Expectations (PZG) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Paramount Gold and Silver Corp to open at $0.445, and during the day (based on 14 day Average True Range), to move between $0.421 and $0.466, which gives a possible trading interval of +/-$0.0224 (+/-5.04%) up or down from last closing price. If Paramount Gold and Silver Corp takes out the full calculated possible swing range there will be an estimated 10.08% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.440 (0.86%) than the resistance at $0.451 (1.69%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Paramount Gold and Silver Corp stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Paramount Gold and Silver Corp stock to perform well in the short-term.
Current score: 1.715 Buy Candidate Unchanged
Predicted Opening Price for Paramount Gold and Silver Corp of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $0.445 ( 0.173%) | $0.444 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PZG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.452 | 1.95 % | |
| R2 | 0.449 | 1.27 % | ||
| R1 | 0.448 | 0.85 % | ||
| Current price: | 0.444 | |||
| Support | S1 | 0.442 | -0.507 % | |
| S2 | 0.440 | -0.93 % | ||
| S3 | 0.437 | -1.61 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.460 | 3.67 % | |
| R2 | 0.460 | 3.65 % | ||
| R1 | 0.451 | 1.69 % | ||
| Current price | 0.444 | |||
| Support | S1 | 0.440 | -0.86% | |
| S2 | 0.437 | -1.51% | ||
| S3 | 0.406 | -8.61% |
FAQ
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