RosCan Gold Corporation Stock Forecast

Big movements in RosCan Gold Corporation stock price on Friday moving 18.25% between high and low
(Updated on May 17, 2024)

RCGCF Signals & Forecast

The RosCan Gold Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.0601 and $0.0603. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, May 14, 2024, and so far it has fallen -9.01%. Further fall is indicated until a new bottom pivot has been found. RosCan Gold Corporation gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for RosCan Gold Corporation stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.0550 and $0.0546. 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, RosCan Gold Corporation finds support just below today's level at $0.0550. If this is broken, then the next support from accumulated volume will be at $0.0546 and $0.0481.

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 $0.0104 between high and low, or 18.25%. For the last week, the stock has had daily average volatility of 14.13%.

Our recommended stop-loss: $0.0586 (-4.84%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 3 days ago.)

Trading Expectations (RCGCF) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect RosCan Gold Corporation to open at $0.0620, and during the day (based on 14 day Average True Range), to move between $0.0550 and $0.0682, which gives a possible trading interval of +/-$0.0066 (+/-10.69%) up or down from last closing price. If RosCan Gold Corporation takes out the full calculated possible swing range there will be an estimated 21.39% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0677 (9.90%) than the support at $0.0550 (10.71%), 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 RosCan Gold Corporation stock A Buy?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.

Current score: 1.592 Buy Candidate Unchanged

Predicted Opening Price for RosCan Gold Corporation of Monday, May 20, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.