SRG Mining Inc. Stock Forecast

SRG Mining Inc. stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Jun 28, 2024)

SRG.V Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, June 25, 2024, and so far it has risen 10.64%. Further rise is indicated until a new top pivot has been found. SRG Mining Inc. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The SRG Mining Inc. 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 $0.531 and $0.552. 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).

Support, Risk & Stop-loss for SRG Mining Inc. stock

SRG Mining Inc. finds support from accumulated volume at $0.500 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 $0.0200 between high and low, or 4.00%. For the last week, the stock has had daily average volatility of 6.04%.

Our recommended stop-loss: $0.499 (-4.10%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 9 days ago.)

Trading Expectations (SRG.V) For The Upcoming Trading Day Of Tuesday 2nd

For the upcoming trading day on Tuesday, 2nd we expect SRG Mining Inc. to open at $0.513, and during the day (based on 14 day Average True Range), to move between $0.496 and $0.544, which gives a possible trading interval of +/-$0.0238 (+/-4.58%) up or down from last closing price. If SRG Mining Inc. takes out the full calculated possible swing range there will be an estimated 9.16% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.530 (1.92%) than the support at $0.500 (3.85%), 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 SRG Mining Inc. stock A Buy?

SRG Mining Inc. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.510 Hold/Accumulate Upgraded

Predicted Opening Price for SRG Mining Inc. of Tuesday, July 2, 2024

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