TRX GOLD CORP (TNX.CA) Stock Technical Analysis
TSX:TNX - Toronto Stock Exchange - CA87283P1099 - Common Stock - Currency: CAD
We assign a technical rating of 3 out of 10 to TNX. TNX's overall performance in the market is below average. Also recent evolutions are not that positive. Both the medium and short term picture give negative signs.
When comparing the yearly performance of all stocks, TNX is a bad performer in the overall market: 76% of all stocks are doing better.
TNX is one of the lesser performing stocks in the Metals & Mining industry. 60% of 811 stocks in the same industry do better.
TNX is currently trading in the lower part of its 52 week range, which is not a good signal. Certainly not because the S&P500 Index is trading near new highs.
Warning: TNX has an average volume of 16114 traded shares per day. This is quite low and it might be dangerous to invest in illiquid stocks.
The long and short term trends are both neutral. This gives a pretty neutral overall picture!
In the last month TNX has a been trading in the 0.41 - 0.60 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
The technical rating of TNX is bad and it also does not present a quality setup at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
More info and screens
0.43
0.58
When analyzing the support we can see 3 important areas.
- Support @0.45 from a trend line in the weekly time frame.
- Support @0.44 from a horizontal line in the weekly time frame.
- Support @0.43 from a horizontal line in the weekly time frame.
We can see 2 important resistance areas.
- Resistance @0.54 from a trend line in the daily time frame.
- A resistance zone ranging from 0.57 to 0.57. This zone is formed by a combination of multiple trend lines in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | NEUTRAL | NEUTRAL | The long term trend for TNX.CA is neutral. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for TNX.CA is neutral. |
| ChartMill Relative Strength | 24.1 | NEGATIVE | TNX.CA has a low relative strength, it was outperformed by 75.9% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of TNX.CA is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | MIXED | The current price of TNX.CA is above a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of TNX.CA is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 51.5 | NEUTRAL | The RSI value for TNX.CA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | POSITIVE | The MACD value suggests TNX.CA has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 52.85 | NEUTRAL | The Stochastics value for TNX.CA is a neutral value. |
| Average True Range in percent/ATR (20) | 5.35 | HIGH VOLATILITY | The high ATR as a percentage value for TNX.CA suggests high volalility. |
| Average Directional Index/ADX (14) | 16.67 | NEGATIVE | The low ADX value for TNX.CA suggests a weak or negative trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
TSX:TNX (3/19/2024, 7:00:00 PM)
0.5
-0.02 (-3.85%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorMaterials
GICS IndustryMetals & Mining
Performance
% Chg-3.85%
1 Week-7.41%
2 Weeks8.7%
1 Month5.26%
3 Month-5.66%
6 Month-7.41%
12 Month-25.37%
2 Year28.21%
3 Year-33.33%
5 Year-53.7%
10 Year-81.34%
15 Year-91.09%
Volatility
ATR(14)0.02
ATR(20)%5.35%
ATR Inc-21.13%
Range Today0.03
ADR(20)0.02
ADR(20)%4.7%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS24.1
Mansfield-2.36
10 Day High0.6
10 Day Low0.48
20 Day High0.6
20 Day Low0.41
52 Week High0.81
52 Week Low0.38
CS1 End0.45
CR1 Start0.54
Volume & EV
DER(3)-13.72%
DER(5)-12.03%
Volume25.60K
Volume Incr11.97%
Vol(5)17.01K
Vol(50)16.11K