Trigon Metals Inc. Stock Forecast

Trigon Metals Inc. stock price took a fall of -7.56% on Friday
(Updated on Jun 14, 2024)

TM.V Signals & Forecast

There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Monday, June 10, 2024, and so far it has fallen -11.29%. Further fall is indicated until a new bottom pivot has been found. Trigon Metals Inc. 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. The Trigon Metals Inc. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $1.18. On a fall, the stock will find some support from the long-term average at approximately $0.389. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Trigon Metals Inc. stock

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0900 between high and low, or 8.18%. For the last week, the stock has had daily average volatility of 6.25%.

The Trigon Metals Inc. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: $1.05 (-4.11%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 85 and this increases the risk substantially. There is a sell signal from a pivot top found 12 days ago.)

Trading Expectations (TM.V) For The Upcoming Trading Day Of Monday 17th

For the upcoming trading day on Monday, 17th we expect Trigon Metals Inc. to open at $1.13, and during the day (based on 14 day Average True Range), to move between $1.02 and $1.18, which gives a possible trading interval of +/-$0.0777 (+/-7.07%) up or down from last closing price. If Trigon Metals Inc. takes out the full calculated possible swing range there will be an estimated 14.14% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $1.17, some $0.0700 (6.36%) from the current price of $1.10, our system finds the risk reward not very attractive.

Is Trigon Metals Inc. 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 Trigon Metals Inc. stock to perform well in the short-term.

Current score: 1.317 Buy Candidate Unchanged

Predicted Opening Price for Trigon Metals Inc. of Monday, June 17, 2024

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