Xtra-Gold Resources Corp. Stock Forecast

Red day on Friday for Xtra-Gold Resources Corp. stock after losing 2.20%
(Updated on Jun 28, 2024)

XTGRF 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. 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 $0.93 and $0.95. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, June 12, 2024, and so far it has fallen -11.00%. 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). Xtra-Gold Resources 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". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Xtra-Gold Resources Corp. stock

Xtra-Gold Resources Corp. finds support from accumulated volume at $0.88 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 and with good trading volume, the risk is considered to be medium. 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 0%.

Xtra-Gold Resources Corp. is oversold on RSI14 (13). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

Our recommended stop-loss: $0.84 (-5.50%) (This stock has medium daily movements and this gives medium risk. Low RSI14 is 13 which reduces the risk some. There is a sell signal from a pivot top found 12 days ago.)

Trading Expectations (XTGRF) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Xtra-Gold Resources Corp. to open at $0.89, and during the day (based on 14 day Average True Range), to move between $0.88 and $0.90, which gives a possible trading interval of +/-$0.0113 (+/-1.27%) 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 2.53% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.88 (1.16%) than the resistance at $0.91 (2.37%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Xtra-Gold Resources Corp. stock A Buy?

Xtra-Gold Resources Corp. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.000 Hold/Accumulate Unchanged

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 Xtra-Gold Resources Corp. of Monday, July 1, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.