U.s. Goldmining Inc. Stock Forecast
On Friday, U.s. Goldmining Inc. stock price gained an impressive 9.70%
(Updated on Jun 28, 2024)
The U.s. Goldmining Inc. stock price gained 9.70% on the last trading day (Friday, 28th Jun 2024), rising from $5.78 to $6.34. During the last trading day the stock fluctuated 9.31% from a day low at $5.80 to a day high of $6.34. The price has been going up and down for this period, and there has been a 3.09% gain for the last 2 weeks. Volume fell on the last day by -4 thousand shares and in total, 3 thousand shares were bought and sold for approximately $17.07 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 lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $6.53 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -9.81% during the next 3 months and, with a 90% probability hold a price between $4.46 and $5.89 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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USGO Signals & Forecast
A sell signal was issued from a pivot top point on Tuesday, May 28, 2024, and so far it has fallen -4.23%. Further fall is indicated until a new bottom pivot has been found. 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. Some positive signals were issued as well, and these may have some influence on the near short-term development. The U.s. Goldmining Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $5.94 and $5.94. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for U.s. Goldmining Inc. stock
U.s. Goldmining Inc. finds support from accumulated volume at $6.15 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.540 between high and low, or 9.31%. For the last week the stock has had daily average volatility of 4.61%.
Our recommended stop-loss: $6.09 (-3.95%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 27 days ago.)
Trading Expectations (USGO) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect U.s. Goldmining Inc. to open at $6.16, and during the day (based on 14 day Average True Range), to move between $6.03 and $6.65, which gives a possible trading interval of +/-$0.314 (+/-4.95%) up or down from last closing price. If U.s. Goldmining Inc. takes out the full calculated possible swing range there will be an estimated 9.91% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $6.47 (2.05%) than the support at $6.15 (3.00%), 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 U.s. Goldmining Inc. stock A Buy?
The stock is within a very wide and falling trend and holds several negative signals that may affect the stock in the short-term. However, we believe that today's you should hold a possible buying opportunity and expect the price to be higher at the end of the 3-month period. The careful investor would await further signals. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.172 Buy Candidate Upgraded
Predicted Opening Price for U.s. Goldmining Inc. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $6.16 ( 2.84%) | $6.34 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for USGO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 6.70 | 5.68% |
| R2 | 6.49 | 2.42% |
| R1 | 6.37 | 0.415% |
| Price | 6.34 | |
| S1 | 5.95 | -6.09% |
| S2 | 5.83 | -8.10% |
| S3 | 5.62 | -11.36% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.18 | 13.25% |
| R2 | 6.62 | 4.42% |
| R1 | 6.47 | 2.05% |
| Price | 6.34 | |
| S1 | 6.15 | -3.00% |
| S2 | 5.97 | -5.84% |
| S3 | 5.31 | -16.26% |
FAQ
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