BRIGUS GOLD CORP. (Foreign) Forecast and Stock Analysis
Technical BRD.L stock analysis for March 22, 2019.
BRIGUS GOLD CORP. (Foreign) gained 2.00% in the last trading day, rising from £0.25 to £0.26 The price has been going up and down for this period, and there has been a -5.56% loss for the last 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 4.69 million more shares were traded than the day before. In total, 4.69 million shares bought and sold for approximately £1.20 million.
Close price at the end of the last trading day (Friday, 22nd Mar 2019) of the BRD.L stock was £0.26. This is 2% more than the trading day before Thursday, 21st Mar 2019.
During day the stock fluctuated 6.25% from a day low at £0.24 to a day high of £0.26.
30 day high of the BRD.L stock price was £0.31 and low was £0.24.
90 day high was £0.39 and low was £0.24.
52 week high for the BRIGUS GOLD CORP. (Foreign) - £1.70 and low - £0.24.
BRIGUS GOLD CORP. (Foreign) lies in the lower of a very wide and falling trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at £0.24 will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -13.22% during the next 3 months and, with 90% probability hold a price between £0.21 and £0.30 at the end of this period.
A buy signal was issued from a pivot bottom point on Thursday March 14, 2019, which indicates further gains until a new top pivot has been found. BRIGUS GOLD CORP. (Foreign) has rising volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. BRIGUS GOLD CORP. (Foreign) holds a buysignal from the short-term moving average; at the same time, however, a sales signal from the long-term average. Since the longterm average is above the short-term average there is a general sales signal in the stock. On further gains, the stock will meet resistance from the long-term moving average at £0.29. On a fall, the stock will find some support from the short-term average at £0.25. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sales signal and strengthen the general signal.
Relative Strength Index (RSI)
RSI14 is 9 and the stock is extremely oversold on RSI14 and is now having a minor correction up. Further gains in the short-term can be expected, and some stocks will provide a very good short-term return from this kind of RSI position unless there is a fundamental risk for bankruptcy or other issues that may affect the stock negatively.
Support & Resistance
BRIGUS GOLD CORP. (Foreign) finds support from accumulated volume at £0.25.
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 6.25%. For the last week, the stock has had a daily average volatility of 1.25%.
BRIGUS GOLD CORP. (Foreign) is overbought on RSI14 (9). Some stocks may go long and hard while being overbought on RSI, but overbought increases the general risk as higher volatility could be expected, and at some level the stock will have a reaction back to gain new strength.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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Evaluation: Sell Candidate
BRIGUS GOLD CORP. (Foreign) holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.