Roscan Gold Corporation Stock Forecast

Volatile ride for Roscan Gold Corporation stock price on Tuesday moving between $0.0750 and $0.0850
(Updated on Jun 25, 2024)

ROS.V Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 6.25%. 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 Roscan Gold Corporation 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 $0.0884. On a fall, the stock will find some support from the short-term average at $0.0836. 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. 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.

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Thursday, June 13, 2024 and based on theory for this formation the price should fall by 0% to $0.0850 within 12 trading days since signal was issued (Tuesday, July 02, 2024).

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 $0.0800 and $0.0750. 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 $0.0800. If this is broken, then the next support from accumulated volume will be at $0.0750 and $0.0700.

This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0100 between high and low, or 13.33%. For the last week the stock has had daily average volatility of 9.38%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (ROS.V) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect Roscan Gold Corporation to open at $0.0817, and during the day (based on 14 day Average True Range), to move between $0.0769 and $0.0931, which gives a possible trading interval of +/-$0.0081 (+/-9.55%) up or down from last closing price. If Roscan Gold Corporation takes out the full calculated possible swing range there will be an estimated 19.09% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0900 (5.88%) than the support at $0.0800 (5.88%), 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?

Roscan Gold Corporation 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: -3.179 Sell Candidate Unchanged

Predicted Opening Price for Roscan Gold Corporation of Wednesday, June 26, 2024

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