Solitario Exploration & Royalty Co (USA) Stock Forecast
Solitario Exploration & Royalty Co (USA) stock price up more than 5.67% on Wednesday
(Updated on Mar 27, 2024)
The Solitario Exploration & Royalty Co (USA) stock price gained 5.67% on the last trading day (Wednesday, 27th Mar 2024), rising from $0.568 to $0.600. During the last trading day the stock fluctuated 8.82% from a day low at $0.557 to a day high of $0.606. The price has risen in 7 of the last 10 days and is up by 19.81% 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, 42 thousand more shares were traded than the day before. In total, 101 thousand shares were bought and sold for approximately $60.75 thousand.
The stock lies the upper part of a very wide and falling 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 $0.604 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -2.52% during the next 3 months and, with a 90% probability hold a price between $0.442 and $0.588 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
XPL Signals & Forecast
The Solitario Exploration & Royalty Co (USA) 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 $0.570 and $0.534. A breakdown below any of these levels will issue sell signals. Solitario Exploration & Royalty Co (USA) has increased 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. 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. A sell signal was issued from a pivot top point on Monday, March 25, 2024, and so far it has fallen -0.695%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Solitario Exploration & Royalty Co (USA) stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.510 and $0.507. 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, Solitario Exploration & Royalty Co (USA) finds support just below today's level at $0.510. If this is broken, then the next support from accumulated volume will be at $0.507 and $0.480.
This stock may move much during the 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 $0.0491 between high and low, or 8.82%. For the last week, the stock has had daily average volatility of 8.41%.
Our recommended stop-loss: $0.575 (-4.13%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (XPL) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Solitario Exploration & Royalty Company (USA) to open at $0.587, and during the day (based on 14 day Average True Range), to move between $0.558 and $0.642, which gives a possible trading interval of +/-$0.0416 (+/-6.93%) up or down from last closing price. If Solitario Exploration & Royalty Company (USA) takes out the full calculated possible swing range there will be an estimated 13.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.604 (0.70%) than the support at $0.510 (14.93%), 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 Solitario Exploration & Royalty Company (USA) stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.040 Buy Candidate Upgraded
Predicted Opening Price for Solitario Exploration & Royalty Company (USA) of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$0.587 ( 2.09%) | $0.600 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for XPL
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.637 | 6.09 % | |
R2 | 0.618 | 2.96 % | ||
R1 | 0.606 | 1.03 % | ||
Current price: | 0.600 | |||
Support | S1 | 0.569 | -5.22 % | |
S2 | 0.557 | -7.15 % | ||
S3 | 0.538 | -10.28 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0.604 | 0.700 % | ||
Current price | 0.600 | |||
Support | S1 | 0.510 | -14.93% | |
S2 | 0.507 | -15.50% | ||
S3 | 0.480 | -20.00% |
FAQ
Click here for our free guide on how to buy Solitario Exploration & Royalty Company (USA) Stock.