TriStar Gold, Inc. Stock Forecast
A very strong day for TriStar Gold, Inc. stock price on Monday
(Updated on Jun 24, 2024)
The TriStar Gold, Inc. stock price gained 8.25% on the last trading day (Monday, 24th Jun 2024), rising from $0.160 to $0.173. During the last trading day the stock fluctuated 0% from a day low at $0.173 to a day high of $0.173. The price has risen in 6 of the last 10 days and is up by 60.37% over the past 2 weeks. Volume fell on the last day by -16 thousand shares and in total, 21 thousand shares were bought and sold for approximately $3.70 thousand. 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 $0.153, a level that may pose a second chance to hit a runner. According to fan-theory $0.202 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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TSGZF Signals & Forecast
The TriStar Gold, Inc. 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 $0.155 and $0.116. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, May 03, 2024, and so far it has risen 116.50%. 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 TriStar Gold, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.158 and $0.155. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, TriStar Gold, Inc. finds support just below today's level at $0.158. If this is broken, then the next support from accumulated volume will be at $0.155 and $0.140.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very 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 9.16%.
The TriStar Gold, Inc. stock is extremely overbought on RSI14 (81). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: $0.168 (-2.88%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 81 and this increases the risk substantially. There is a buy signal from a pivot bottom found 54 days ago.)
Trading Expectations (TSGZF) For The Upcoming Trading Day Of Tuesday 25th
For the upcoming trading day on Tuesday, 25th we expect TriStar Gold, Inc. to open at $0.173, and during the day (based on 14 day Average True Range), to move between $0.162 and $0.184, which gives a possible trading interval of +/-$0.0110 (+/-6.32%) up or down from last closing price. If TriStar Gold, Inc. takes out the full calculated possible swing range there will be an estimated 12.65% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $0.158, some $0.0152 (8.78%) from the current price of $0.173, our system finds the risk reward attractive.
Is TriStar Gold, Inc. stock A Buy?
TriStar Gold, Inc. 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
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 TriStar Gold, Inc. of Tuesday, June 25, 2024
| Fair opening price June 25, 2024 | Current price |
|---|---|
| $0.173 ( 0%) | $0.173 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TSGZF
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.173 | - |
| R2 | 0.173 | - |
| R1 | 0.173 | - |
| Price | 0.173 | |
| S1 | 0.173 | - |
| S2 | 0.173 | - |
| S3 | 0.173 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 0.173 | |
| S1 | 0.158 | -8.78% |
| S2 | 0.155 | -10.28% |
| S3 | 0.140 | -19.17% |
FAQ
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