Sandstorm Gold Ltd Forecast and Stock Analysis
Technical SAND stock analysis for February 15, 2019.
|Shorts||1.75% ( 2019-01-31 )|
Sandstorm Gold Ltd gained 1.29% in the last trading day, rising from $5.42 to $5.49 , and has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. The price has risen in 7 of the last 10 days and is up by 4.57% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 0.66 million more shares were traded than the day before. In total, 1.70 million shares bought and sold for approximately $9.35 million.
Close price at the end of the last trading day (Friday, 15th Feb 2019) of the SAND stock was $5.49. This is 1.29% more than the trading day before Thursday, 14th Feb 2019.
During day the stock fluctuated 3.86% from a day low at $5.31 to a day high of $5.51.
30 day high of the SAND stock price was $5.55 and low was $4.40.
90 day high was $5.55 and low was $3.90.
52 week high for the Sandstorm Gold Ltd - $5.55 and low - $3.48.
Sandstorm Gold Ltd lies in the upper part of a wide and strong rising trend in the short term, and this will 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 $5.63 will firstly indicate a stronger raising rate. Given the current short-term trend, the stock is expected to rise 32.13% during the next 3 months and, with 90% probability hold a price between $6.40 and $7.44 at the end of this period.
Sandstorm Gold Ltd holds buy signals from both short- and long-term moving averages. In addition, 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 $5.42 and $4.91. A break down below any of these levels will issue sell signals. 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. A sales signal was issued from a pivot top point on Friday February 08, 2019, which indicates further falls until a new bottom pivot has been found.
Relative Strength Index (RSI)
RSI14 is 85 and the stock is extremely overbought on RSI14, but may also ontinue to gain. Some stocks see their best performance while being overbought, but very seldom does RSI remain so high for a long time without short corrections. Risk has therefore increased and larger daily movements can be expected for the next couple of days.
Support & Resistance
Sandstorm Gold Ltd finds support from accumulated volume at $5.25.
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 $0.21 between high and low, or 3.86%. For the last week, the stock has had a daily average volatility of 2.64%.
The stock is overbought on RSI14 and lies in the upper part of the trend. Normally this will 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 stoploss: $5.25 (-4.33%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 85 and this increases the risk substantially. There is a sell signal from pivot top found 5 days ago.)
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Evaluation: Buy Candidate
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for this stock to perform well in the short-term.