RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of ARNGF
Powered by GPT-4
Upgraded!
Stock Analysis
Risk Assessment
Trading Strategy

Big movements in ARGONAUT GOLD INC stock price on Wednesday moving 13.59% between high and low
(Updated on Mar 27, 2024)

Hold candidate since Mar 27, 2024 PDF

The ARGONAUT GOLD INC stock price gained 31.70% on the last trading day (Wednesday, 27th Mar 2024), rising from $0.220 to $0.290. During the last trading day the stock fluctuated 13.59% from a day low at $0.255 to a day high of $0.290. The price has fallen in 6 of the last 10 days but is still up by 40.33% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 7 million more shares were traded than the day before. In total, 7 million shares were bought and sold for approximately $2.15 million.

Given the current short-term trend, the stock is expected to fall -31.41% during the next 3 months and, with a 90% probability hold a price between $0.0873 and $0.199 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.

Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.

ARNGF Signals & Forecast

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 $0.235 and $0.231. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, February 29, 2024, and so far it has risen 72.00%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.

Support, Risk & Stop-loss for ARGONAUT GOLD INC stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.275 and $0.258. 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, ARGONAUT GOLD INC finds support just below today's level at $0.275. If this is broken, then the next support from accumulated volume will be at $0.258 and $0.228.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0347 between high and low, or 13.59%. For the last week, the stock has had daily average volatility of 10.38%.

The ARGONAUT GOLD INC stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: $0.278 (-4.02%) (This stock has high daily movements and this gives high risk. The RSI14 is 77 and this increases the risk substantially. There is a buy signal from a pivot bottom found 19 days ago.)

Trading Expectations (ARNGF) For The Upcoming Trading Day Of Thursday 28th

For the upcoming trading day on Thursday, 28th we expect ARGONAUT GOLD INC to open at $0.278, and during the day (based on 14 day Average True Range), to move between $0.267 and $0.313, which gives a possible trading interval of +/-$0.0226 (+/-7.80%) up or down from last closing price. If ARGONAUT GOLD INC takes out the full calculated possible swing range there will be an estimated 15.60% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.296 (2.07%) than the support at $0.275 (5.17%), 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?

ARGONAUT GOLD INC holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Upgraded

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 ARGONAUT GOLD INC of Thursday, March 28, 2024

Fair opening price March 28, 2024 Current price
$0.278 ( 3.99%) $0.290

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

Trading levels for ARNGF

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 0.313 7.97 %
R2 0.300 3.40 %
R1 0.292 0.582 %
Current price: 0.290
Support S1 0.265 -8.56 %
S2 0.257 -11.38 %
S3 0.244 -15.95 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 0.320 10.34 %
R2 0.317 9.41 %
R1 0.296 2.07 %
Current price 0.290
Support S1 0.275 -5.17%
S2 0.258 -11.03%
S3 0.228 -21.55%

FAQ

What is the symbol for ARGONAUT GOLD INC Stock and on which exchange is it traded?
The symbol for ARGONAUT GOLD INC is ARNGF and it is traded on the PINK (Pink Sheets).

Should I buy or sell ARGONAUT GOLD INC Stock?
ARGONAUT GOLD INC holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

How to buy ARGONAUT GOLD INC Stock?
ARGONAUT GOLD INC Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy ARGONAUT GOLD INC Stock.

What's the current price of ARGONAUT GOLD INC Stock?
As of the end of day on the 2024-03-27, the price of an ARGONAUT GOLD INC (ARNGF) share was $0.290.

What is the 52-week high and low for ARGONAUT GOLD INC Stock?
The 52-week high for ARGONAUT GOLD INC Stock is $0.566 and the 52-week low is $0.158.

What is the market capitalization of ARGONAUT GOLD INC Stock?
As of the 2024-03-27, the market capitalization of ARGONAUT GOLD INC is 240.229M.
Click to get the best stock tips daily for free!

About ARGONAUT GOLD INC

ARGONAUT GOLD INC Argonaut Gold Inc. is a Canadian company engaged in gold mining, mine development, and mineral exploration activities at gold-bearing mineral properties in North America. Its primary assets include the El Castillo and San Agustin mines, which together form the El Castillo Complex located in Durango, Mexico; the La Colorada mine located in Sonora, Mexico; the Florida Canyon mine in Nevada, the United States; and the Cerro del Gallo project in Guan... ARNGF Profile

Top Fintech Company

StockInvest.us featured in The Global Fintech Index 2020 as the top Fintech company of the country.

Full report by FINDEXABLE

ROCKIT