Argonaut Gold Inc. Stock Forecast
Argonaut Gold Inc. stock price ended at $0.415 on Wednesday, after gaining 1.22%.
(Updated on Apr 24, 2024)
The Argonaut Gold Inc. stock price gained 1.22% on the last trading day (Wednesday, 24th Apr 2024), rising from $0.410 to $0.415. During the last trading day the stock fluctuated 3.66% from a day low at $0.410 to a day high of $0.425. The price has risen in 5 of the last 10 days. Volume fell on the last day by -1 million shares and in total, 2 million shares were bought and sold for approximately $732.73 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 upper part of a very wide and strong rising 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 $0.436 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 10.06% during the next 3 months and, with a 90% probability hold a price between $0.280 and $0.480 at the end of this 3-month period.
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AR.TO Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -3.49%. 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 also not. The Argonaut Gold Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.409 and $0.358. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Argonaut Gold Inc. stock
Argonaut Gold Inc. finds support from accumulated volume at $0.400 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 much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0150 between high and low, or 3.66%. For the last week the stock has had daily average volatility of 3.47%.
Our recommended stop-loss: $0.398 (-4.07%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (AR.TO) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Argonaut Gold Inc. to open at $0.417, and during the day (based on 14 day Average True Range), to move between $0.396 and $0.434, which gives a possible trading interval of +/-$0.0195 (+/-4.70%) up or down from last closing price. If Argonaut Gold Inc. takes out the full calculated possible swing range there will be an estimated 9.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.420 (1.20%) than the support at $0.400 (3.61%), 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 Argonaut Gold Inc. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Argonaut Gold Inc. stock to perform well in the short-term.
Current score: 1.283 Buy Candidate Unchanged
Predicted Opening Price for Argonaut Gold Inc. of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $0.417 ( 0.402%) | $0.415 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AR.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.432 | 4.02 % | |
| R2 | 0.426 | 2.64 % | ||
| R1 | 0.422 | 1.78 % | ||
| Current price: | 0.415 | |||
| Support | S1 | 0.411 | -0.98 % | |
| S2 | 0.407 | -1.83 % | ||
| S3 | 0.402 | -3.21 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0.430 | 3.61 % | ||
| R1 | 0.420 | 1.20 % | ||
| Current price | 0.415 | |||
| Support | S1 | 0.400 | -3.61% | |
| S2 | 0.395 | -4.82% | ||
| S3 | 0.390 | -6.02% |
FAQ
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