SolGold Plc Stock Forecast

Green day on Friday for SolGold Plc stock after gaining 3.77%
(Updated on May 10, 2024)

SLGGF Signals & Forecast

There are mixed signals in the stock today. The SolGold Plc 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 $0.121. On a fall, the stock will find some support from the short-term average at $0.116. 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. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -15.96%. Further fall is indicated until a new bottom pivot has been found. 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. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for SolGold Plc stock

SolGold Plc finds support from accumulated volume at $0.115 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 $0.0065 between high and low, or 5.80%. For the last week the stock has had daily average volatility of 3.02%.

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

Trading Expectations (SLGGF) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect SolGold Plc to open at $0.116, and during the day (based on 14 day Average True Range), to move between $0.109 and $0.128, which gives a possible trading interval of +/-$0.0097 (+/-8.20%) up or down from last closing price. If SolGold Plc takes out the full calculated possible swing range there will be an estimated 16.41% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.115 (2.95%) than the resistance at $0.125 (5.49%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is SolGold Plc stock A Buy?

SolGold Plc 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: -3.474 Sell Candidate Unchanged

Predicted Opening Price for SolGold Plc of Monday, May 13, 2024

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