Paramount Gold and Silver Corp Stock Forecast

Weaker technical forecast for Paramount Gold and Silver Corp as stock downgraded to Hold/Accumulate.
(Updated on Apr 19, 2024)

PZG Signals & Forecast

The Paramount Gold and Silver Corp 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 $0.449. On a fall, the stock will find some support from the long-term average at approximately $0.408. 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. Paramount Gold and Silver Corp 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 Thursday, April 11, 2024, and so far it has fallen -5.70%. 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 Paramount Gold and Silver Corp stock

Paramount Gold and Silver Corp finds support from accumulated volume at $0.437 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 $0.0191 between high and low, or 4.37%. For the last week, the stock has had daily average volatility of 5.45%.

Our recommended stop-loss: $0.418 (-5.58%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 6 days ago.)

Trading Expectations (PZG) For The Upcoming Trading Day Of Monday 22nd

For the upcoming trading day on Monday, 22nd we expect Paramount Gold and Silver Corp to open at $0.445, and during the day (based on 14 day Average True Range), to move between $0.416 and $0.470, which gives a possible trading interval of +/-$0.0266 (+/-6.00%) up or down from last closing price. If Paramount Gold and Silver Corp takes out the full calculated possible swing range there will be an estimated 12.01% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.437 (1.35%) than the resistance at $0.451 (1.85%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Paramount Gold and Silver Corp stock A Buy?

Paramount Gold and Silver Corp 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: 0.678 Hold/Accumulate Downgraded

Predicted Opening Price for Paramount Gold and Silver Corp of Monday, April 22, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.