Golden Minerals Company Stock Forecast
Golden Minerals Company stock downgraded from Buy Candidate to Hold/Accumulate after Friday trading session.
(Updated on Apr 19, 2024)
The Golden Minerals Company stock price fell by -3.16% on the last day (Friday, 19th Apr 2024) from $0.635 to $0.615. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 5.03% from a day low at $0.605 to a day high of $0.635. The price has fallen in 8 of the last 10 days and is down by -10.84% for this period. Volume has increased on the last day by 53 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 223 thousand shares were bought and sold for approximately $137.39 thousand.
The stock lies in the middle of a very 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 21.91% during the next 3 months and, with a 90% probability hold a price between $0.384 and $0.97 at the end of this 3-month period.
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AUMN Signals & Forecast
The Golden Minerals Company stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $0.659. On a fall, the stock will find some support from the long-term average at approximately $0.467. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -21.11%. Further fall is indicated until a new bottom pivot has been found. Golden Minerals Company 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".
Support, Risk & Stop-loss for Golden Minerals Company stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.582 and $0.576. 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, Golden Minerals Company finds support just below today's level at $0.582. If this is broken, then the next support from accumulated volume will be at $0.576 and $0.482.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0304 between high and low, or 5.03%. For the last week, the stock has had daily average volatility of 8.54%.
Our recommended stop-loss: $0.586 (-4.74%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (AUMN) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Golden Minerals Company to open at $0.618, and during the day (based on 14 day Average True Range), to move between $0.542 and $0.688, which gives a possible trading interval of +/-$0.0734 (+/-11.94%) up or down from last closing price. If Golden Minerals Company takes out the full calculated possible swing range there will be an estimated 23.88% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.641 (4.20%) than the support at $0.582 (5.41%), 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 Golden Minerals Company stock A Buy?
Golden Minerals Company 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.811 Hold/Accumulate Downgraded
Predicted Opening Price for Golden Minerals Company of Monday, April 22, 2024
Fair opening price April 22, 2024 | Current price |
---|---|
$0.618 ( 0.520%) | $0.615 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AUMN
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.649 | 5.46 % | |
R2 | 0.637 | 3.58 % | ||
R1 | 0.630 | 2.41 % | ||
Current price: | 0.615 | |||
Support | S1 | 0.607 | -1.37 % | |
S2 | 0.599 | -2.53 % | ||
S3 | 0.588 | -4.42 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.690 | 12.16 % | |
R2 | 0.665 | 8.13 % | ||
R1 | 0.641 | 4.20 % | ||
Current price | 0.615 | |||
Support | S1 | 0.582 | -5.41% | |
S2 | 0.576 | -6.34% | ||
S3 | 0.482 | -21.63% |
FAQ
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