Seabridge Gold Inc Stock Forecast
Big movements in Seabridge Gold Inc stock price on Thursday moving 10.10% between high and low
(Updated on Mar 28, 2024)
The Seabridge Gold Inc stock price gained 9.41% on the last trading day (Thursday, 28th Mar 2024), rising from $13.82 to $15.12. During the last trading day the stock fluctuated 10.10% from a day low at $13.86 to a day high of $15.26. The price has fallen in 6 of the last 10 days but is still up by 13.43% 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, 895 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $19.83 million.
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 $15.22 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 25.49% during the next 3 months and, with a 90% probability hold a price between $13.80 and $19.10 at the end of this 3-month period.
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SA Signals & Forecast
The Seabridge 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 $13.59 and $12.27. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, February 13, 2024, and so far it has risen 60.34%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Seabridge Gold Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $13.72 and $13.33. 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, Seabridge Gold Inc finds support just below today's level at $13.72. If this is broken, then the next support from accumulated volume will be at $13.33 and $11.86.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.40 between high and low, or 10.10%. For the last week, the stock has had daily average volatility of 4.45%.
Our recommended stop-loss: $14.57 (-3.66%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 31 days ago.)
Trading Expectations (SA) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Seabridge Gold Inc to open at $14.75, and during the day (based on 14 day Average True Range), to move between $14.57 and $15.67, which gives a possible trading interval of +/-$0.552 (+/-3.65%) up or down from last closing price. If Seabridge Gold Inc takes out the full calculated possible swing range there will be an estimated 7.31% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $13.72, some $1.40 (9.26%) from the current price of $15.12, our system finds the risk reward attractive.
Is Seabridge Gold Inc stock A Buy?
Seabridge 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
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 Seabridge Gold Inc of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$14.75 ( 2.47%) | $15.12 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SA
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 16.15 | 6.79 % | |
R2 | 15.61 | 3.25 % | ||
R1 | 15.28 | 1.07 % | ||
Current price: | 15.12 | |||
Support | S1 | 14.21 | -6.01 % | |
S2 | 13.88 | -8.19 % | ||
S3 | 13.35 | -11.73 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 15.12 | |||
Support | S1 | 13.72 | -9.26% | |
S2 | 13.33 | -11.84% | ||
S3 | 11.86 | -21.56% |
FAQ
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