Sixty North Gold Mining Ltd. Stock Forecast

A very strong day for Sixty North Gold Mining Ltd. stock price on Friday
(Updated on May 17, 2024)

SXTY.CN Signals & Forecast

The Sixty North Gold Mining Ltd. 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 $0.0800 and $0.0743. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 16, 2024, and so far it has risen 14.29%. 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. 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.

Support, Risk & Stop-loss for Sixty North Gold Mining Ltd. stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.0750 and $0.0700. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $0.0700 may give a huge drop in the stock price.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0%

Our recommended stop-loss: $0.0761 (-4.89%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 22 days ago.)

Trading Expectations (SXTY.CN) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect Sixty North Gold Mining Ltd. to open at $0.0800, and during the day (based on 14 day Average True Range), to move between $0.0703 and $0.0897, which gives a possible trading interval of +/-$0.0097 (+/-12.17%) up or down from last closing price. If Sixty North Gold Mining Ltd. takes out the full calculated possible swing range there will be an estimated 24.34% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0850 (6.25%) than the support at $0.0750 (6.25%), 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 Sixty North Gold Mining Ltd. 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 Sixty North Gold Mining Ltd. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 3.175 Buy Candidate Upgraded

Predicted Opening Price for Sixty North Gold Mining Ltd. of Tuesday, May 21, 2024

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