Xtra-Gold Resources Corp. Stock Forecast
Xtra-Gold Resources Corp. stock price ended at $1.30 on Friday, after gaining 4.00%.
(Updated on Jun 14, 2024)
The Xtra-Gold Resources Corp. stock price gained 4.00% on the last trading day (Friday, 14th Jun 2024), rising from $1.25 to $1.30. During the last trading day the stock fluctuated 1.55% from a day low at $1.29 to a day high of $1.31. The price has fallen in 5 of the last 10 days and is down by -2.26% for this period. Volume fell on the last day by -17 thousand shares and in total, 2 thousand shares were bought and sold for approximately $2.73 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 in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 17.50% during the next 3 months and, with a 90% probability hold a price between $1.47 and $1.65 at the end of this 3-month period.
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XTG.TO Signals & Forecast
There are few to no technical positive signals at the moment. The Xtra-Gold Resources Corp. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $1.34 and $1.31. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, June 07, 2024, and so far it has fallen -6.47%. 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.
Support, Risk & Stop-loss for Xtra-Gold Resources Corp. stock
On the downside, the stock finds support just below today's level from accumulated volume at $1.20 and $1.19. 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, Xtra-Gold Resources Corp. finds support just below today's level at $1.20. If this is broken, then the next support from accumulated volume will be at $1.19 and $1.18.
In general the stock tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved $0.0200 between high and low, or 1.55%. For the last week the stock has had daily average volatility of 1.87%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (XTG.TO) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect Xtra-Gold Resources Corp. to open at $1.30, and during the day (based on 14 day Average True Range), to move between $1.26 and $1.34, which gives a possible trading interval of +/-$0.0352 (+/-2.70%) up or down from last closing price. If Xtra-Gold Resources Corp. takes out the full calculated possible swing range there will be an estimated 5.41% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.31 (0.77%) than the support at $1.20 (7.69%), 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 Xtra-Gold Resources Corp. stock A Buy?
The Xtra-Gold Resources Corp. stock holds several negative signals and despite the positive trend, we believe Xtra-Gold Resources Corp. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.468 Sell Candidate Unchanged
Predicted Opening Price for Xtra-Gold Resources Corp. of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| $1.30 ( 0%) | $1.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for XTG.TO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.32 | 1.54% |
| R2 | 1.31 | 0.95% |
| R1 | 1.31 | 0.588% |
| Price | 1.30 | |
| S1 | 1.29 | -0.588% |
| S2 | 1.29 | -0.95% |
| S3 | 1.28 | -1.54% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.38 | 6.15% |
| R2 | 1.32 | 1.54% |
| R1 | 1.31 | 0.769% |
| Price | 1.30 | |
| S1 | 1.20 | -7.69% |
| S2 | 1.19 | -8.46% |
| S3 | 1.18 | -9.23% |
FAQ
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