AMERIGO RESOURCES Forecast and Stock Analysis
Technical ARREF stock analysis for Wednesday May 22, 2019.
AMERIGO RESOURCES gained 1.04% in the last trading day ( Wednesday, 22nd May 2019 ), rising from $0.51 to $0.52 During day the stock fluctuated 3.90% from a day low at $0.51 to a day high of $0.53. The price has fallen in 6 of the last 10 days and is down by -8.8% for this period. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 750 more shares were traded than the day before. In total, 51 000 shares bought and sold for approximately $26 280.30.
- 30 day high of the ARREF stock price was $0.74 and low was $0.50.
- 90 day high was $0.92 and low was $0.50.
- 52 week high for the AMERIGO RESOURCES - $0.92 and low - $0.50.
AMERIGO RESOURCES lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -37.65% during the next 3 months and, with 90% probability hold a price between $0.29 and $0.39 at the end of this period.
A buy signal was issued from a pivot bottom point on Tuesday May 21, 2019, which indicates further gains until a new top pivot has been found. AMERIGO RESOURCES has rising volume and follows the last lift in the price. This considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. AMERIGO RESOURCES holds sales signals from both short- and long-term moving averages. In addition, there is a general sales 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 $0.54 and $0.64. A break-up above any of these levels will issue buy signals.
Relative Strength Index (RSI)
RSI14 is 38 and the stock is currently not being overbought or oversold
Support & Resistance
AMERIGO RESOURCES finds support from accumulated volume at $0.51.
This stock may move much during a 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 $0.02 between high and low, or 3.90%. For the last week, the stock has had a daily average volatility of 8.19%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
8.19 %Average volatility
Very Low Low Medium High Very High
AMERIGO RESOURCES holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. We have upgraded our recommendation for this stock since last evaluation from a Strong Sell Candidate to a Sell Candidate.
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|ARREF $0.52 ($0.01 1.04%)|
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