TNR Gold Corporation Stock Forecast
Strong day for TNR Gold Corporation stock price on Friday rising 48.15% to $0.0600
(Updated on May 10, 2024)
The TNR Gold Corporation stock price gained 48.15% on the last trading day (Friday, 10th May 2024), rising from $0.0405 to $0.0600. During the last trading day the stock fluctuated 0% from a day low at $0.0600 to a day high of $0.0600. The price has been going up and down for this period, and there has been a 25% gain for the last 2 weeks. Volume fell on the last day by -13 thousand shares and in total, 250 shares were bought and sold for approximately $15.00 . You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock has broken the very wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $0.0537, a level that may pose a second chance to hit a runner. According to fan-theory $0.0690 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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TRRXF Signals & Forecast
The TNR Gold Corporation 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 $0.0464 and $0.0431. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 60.00%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 TNR Gold Corporation stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0480 and $0.0470. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $0.0470 may give a huge drop in the stock price.
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 between high and low, or 0%. For the last week the stock has had daily average volatility of 1.57%.
Our recommended stop-loss: $0.0578 (-3.74%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 19 days ago.)
Trading Expectations (TRRXF) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect TNR Gold Corporation to open at $0.0600, and during the day (based on 14 day Average True Range), to move between $0.0561 and $0.0639, which gives a possible trading interval of +/-$0.0039 (+/-6.46%) up or down from last closing price. If TNR Gold Corporation takes out the full calculated possible swing range there will be an estimated 12.93% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $0.0480, some $0.0120 (20.00%) from the current price of $0.0600, our system finds the risk reward attractive.
Is TNR Gold Corporation stock A Buy?
TNR Gold Corporation holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for TNR Gold Corporation of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| $0.0600 ( 0%) | $0.0600 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TRRXF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0600 | . | |
| R2 | 0.0600 | . | ||
| R1 | 0.0600 | . | ||
| Current price: | 0.0600 | |||
| Support | S1 | 0.0600 | . | |
| S2 | 0.0600 | . | ||
| S3 | 0.0600 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 0.0600 | |||
| Support | S1 | 0.0480 | -20.00% | |
| S2 | 0.0470 | -21.67% | ||
| S3 | 0 | . |
FAQ
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