GOLD RESOURCE CORP (GORO)       1.65  +0.02 (+1.23%)

1.65  +0.02 (+1.23%)

US38068T1051 - Common Stock

Technical Rating

3

We assign a technical rating of 3 out of 10 to GORO. GORO has been an average performer in the overall market. Recently some decent action could be observed, but in the medium term time frame this is still negative.



In the last month GORO has a been trading in the 1.53 - 1.75 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.
When compared to the yearly performance of all other stocks, GORO outperforms 53% of them, which is more or less in line with the market.
GORO is part of the Metals & Mining industry. There are 988 other stocks in this industry, GORO did better than 66% of them.
The long term trend is still negative, but the short term trend is neutral. It is advised to wait a little bit longer to see how this turns out.
GORO is currently trading in the lower part of its 52 week range, which is not a good signal. Agreed, the S&P500 Index is also not doing fantastic, but it still sitting in the middle of its 52 week range.

Statistics

1 Month 3 Months 6 Months 12 Months 5.16% -6.86% -22.01% -8.94% SMA(20) SMA(50) SMA(100) SMA(200) RS 52 Wk Range ST Trend LT Trend 53.67 1.5 - 2.63
GORO Weekly chart
GORO Daily chart

Support/Resistance Analysis


1.50

2.24
When analyzing the support we can see 2 important areas.
  • Support @1.61 from a trend line in the daily time frame.
  • A support zone ranging from 1.52 to 1.56. This zone is formed by a combination of multiple trend lines in multiple time frames.
We can see 4 important resistance areas.
  • A resistance zone ranging from 1.66 to 1.67. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
  • A resistance zone ranging from 1.70 to 1.73. This zone is formed by a combination of multiple trend lines in multiple time frames.
  • Resistance @1.77 from a horizontal line in the daily time frame.
  • Resistance @2.22 from a trend line in the weekly time frame.

Setup Analysis

Setup Rating

8

Although the technical rating is bad, GORO does present a nice setup opportunity. Prices have been consolidating lately. Very recently a Pocket Pivot signal was observed. This is another positive sign.

  • A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.

GORO Daily chart

GOLD RESOURCE CORP1.65

NYSEARCA:GORO (12/6/2022, 10:10:07 AM)+0.02 (+1.23%)

Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS Sector Materials
GICS Industry Metals & Mining
Performance
Today 1.23% 1 Week 2.52%
2 Weeks -3.55% 1 Month 5.16%
3 Month -6.86% 6 Month -22.01%
Volatility
ATR(14) 0.07 ATR(20)% 4.33%
ATR Inc -2.85% Range Today 0.05
Trend & SMA
ST Trend LT Trend
SMA(5) SMA(10)
SMA(20) SMA(50)
SMA(100) SMA(200)
Relative Strength & Ranges
CRS 53.67 Mansfield -0.63
10 Day High 1.75 10 Day Low 1.59
20 Day High 1.75 20 Day Low 1.53
52 Week High 2.63 52 Week Low 1.5
CS1 End 1.61 CR1 Start 1.64
Volume & EV
DER(3) -1.24% DER(5) 2.01%
Volume 109.93K Volume Incr -38.17%
Vol(5) 406.30K Vol(50) 583.99K

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