Tesoro Gold Ltd Stock Forecast
Volatile ride for Tesoro Gold Ltd stock price on Friday moving between $0.0270 and $0.0300
(Updated on Jun 28, 2024)
The Tesoro Gold Ltd stock price gained 11.11% on the last trading day (Friday, 28th Jun 2024), rising from $0.0270 to $0.0300. During the last trading day the stock fluctuated 11.11% from a day low at $0.0270 to a day high of $0.0300. The price has fallen in 6 of the last 10 days and is down by -9.09% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $45.14 thousand.
The stock lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.0270 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 5.25% during the next 3 months and, with a 90% probability hold a price between $0.0285 and $0.0474 at the end of this 3-month period.
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TSO.AX Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 27, 2024, and so far it has risen 11.11%. Further rise is indicated until a new top pivot has been found. Tesoro Gold Ltd 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 Tesoro Gold Ltd stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $0.0369. On a fall, the stock will find some support from the short-term average at $0.0287. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Tesoro Gold Ltd stock
Tesoro Gold Ltd finds support from accumulated volume at $0.0290 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 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 $0.0030 between high and low, or 11.11%. For the last week, the stock has had daily average volatility of 7.25%.
Our recommended stop-loss: $0.0286 (-4.52%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 28 days ago.)
Trading Expectations (TSO.AX) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Tesoro Gold Ltd to open at $0.0290, and during the day (based on 14 day Average True Range), to move between $0.0272 and $0.0328, which gives a possible trading interval of +/-$0.0028 (+/-9.18%) up or down from last closing price. If Tesoro Gold Ltd takes out the full calculated possible swing range there will be an estimated 18.36% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0290 (3.33%) than the resistance at $0.0320 (6.67%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Tesoro Gold Ltd stock A Buy?
Tesoro Gold Ltd 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.197 Hold/Accumulate Upgraded
Predicted Opening Price for Tesoro Gold Ltd of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $0.0290 ( 3.33%) | $0.0300 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TSO.AX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0320 | 6.67% |
| R2 | 0.0309 | 2.85% |
| R1 | 0.0301 | 0.487% |
| Price | 0.0300 | |
| S1 | 0.0279 | -7.15% |
| S2 | 0.0271 | -9.51% |
| S3 | 0.0260 | -13.33% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0370 | 23.33% |
| R2 | 0.0340 | 13.33% |
| R1 | 0.0320 | 6.67% |
| Price | 0.0300 | |
| S1 | 0.0290 | -3.33% |
| S2 | 0.0280 | -6.67% |
| S3 | 0.0260 | -13.33% |
TSO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Oct 12, 2010 | Oct 12, 2010 | Oct 12, 2010 | $0.141 | 30.70% |
| 2 | Aug 16, 2010 | Aug 16, 2010 | Aug 16, 2010 | $9.91 | 94.56% |
| 3 | Aug 12, 2009 | Aug 12, 2009 | Aug 12, 2009 | $0.281 | 2.86% |
| 4 | Jun 24, 2008 | Jun 24, 2008 | Jun 24, 2008 | $0.563 | 5.15% |
| 5 | Dec 11, 2007 | Dec 11, 2007 | Dec 11, 2007 | $0.563 | 3.58% |
FAQ
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