Victoria Gold Corp. Stock Forecast
Victoria Gold Corp. stock downgraded to Sell Candidate
(Updated on May 08, 2024)
The Victoria Gold Corp. stock price fell by -1.45% on the last day (Wednesday, 8th May 2024) from $4.92 to $4.85. During the last trading day the stock fluctuated 2.48% from a day low at $4.83 to a day high of $4.95. The price has fallen in 7 of the last 10 days and is down by -5.27% for this period. Volume has increased on the last day by 34 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 50 thousand shares were bought and sold for approximately $240.79 thousand.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $4.72 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 21.51% during the next 3 months and, with a 90% probability hold a price between $5.74 and $7.78 at the end of this 3-month period.
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VITFF Signals & Forecast
There are few to no technical positive signals at the moment. The Victoria Gold Corp. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $4.96 and $5.08. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -18.28%. 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). Victoria Gold Corp. 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".
Support, Risk & Stop-loss for Victoria Gold Corp. stock
On the downside, the stock finds support just below today's level from accumulated volume at $4.24 and $4.00. 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, Victoria Gold Corp. finds support just below today's level at $4.24. If this is broken, then the next support from accumulated volume will be at $4.00 and $3.85.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.120 (2.48%) between high and low. For the last week, the stock has had daily average volatility of 2.79%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (VITFF) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Victoria Gold Corp. to open at $4.88, and during the day (based on 14 day Average True Range), to move between $4.65 and $5.05, which gives a possible trading interval of +/-$0.198 (+/-4.09%) up or down from last closing price. If Victoria Gold Corp. takes out the full calculated possible swing range there will be an estimated 8.17% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $5.03 (3.61%) than the support at $4.24 (12.55%), 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.
Earnings coming up
Victoria Gold Corp. will release earnings BMO on Thursday, May 09, 2024. We will update the financials statements for Victoria Gold Corp., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.37% in the first trading day after earnings release.
Is Victoria Gold Corp. stock A Buy?
The Victoria Gold Corp. stock holds several negative signals and despite the positive trend, we believe Victoria Gold Corp. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.318 Sell Candidate Downgraded
Predicted Opening Price for Victoria Gold Corp. of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| $4.88 ( 0.550%) | $4.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VITFF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.00 | 3.02 % | |
| R2 | 4.95 | 2.08 % | ||
| R1 | 4.92 | 1.49 % | ||
| Current price: | 4.85 | |||
| Support | S1 | 4.83 | -0.395 % | |
| S2 | 4.80 | -0.98 % | ||
| S3 | 4.76 | -1.92 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.11 | 5.36 % | |
| R2 | 5.03 | 3.71 % | ||
| R1 | 5.03 | 3.61 % | ||
| Current price | 4.85 | |||
| Support | S1 | 4.24 | -12.55% | |
| S2 | 4.00 | -17.44% | ||
| S3 | 3.85 | -20.62% |
FAQ
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