Fact Check: What’s wrong with Almaden Minerals Ltd. (AAU) today

The biggest losers of the session on the Wall Street include Almaden Minerals Ltd. (NYSE:AAU), which fell -0.06 points or -7.67% to trade at $0.68 as last check. The stock closed last session at $0.74 and sets an active trading volume day with a reported 161323 contracts so far this session. AAU shares had a relatively better volume day versus average trading capacity of 233.78 thousand shares, but with a 99.99 million float and a 11.62% run over a week, it’s definitely worth keeping an eye on. AAU share price has been trading recently between $0.72 and $0.76. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $0.83. Flipping the other side of the coin, an analyst who is fully bullish set a price target as high as $0.83.

During the recent trading session for Almaden Minerals Ltd. (NYSE:AAU), the company witnessed their stock rise $0.02 over a week and tumble down $-0.01 from the price 20 days ago. When compared to their established 52-week high of $0.9, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 10/01/19. The recent low of $0.43 stood for a -24.37% since 05/30/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of -0.3 is also allocated to the stock. Since the beta is less than one, it implies that the stock is less volatile than the market, a data that traders are keeping close attention to. At the moment, the median target price for AAU is set at $0.83, a figure which is below the recent 1-year high the stock witnessed.

Looking at the current readings for Almaden Minerals Ltd., the two-week RSI stands at 44.48. This figure suggests that AAU stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current AAU readings is similarly very revealing as it has a stochastic reading of 68.83% at this stage. This figure means that AAU share price today is being neutral.

Technical chart claims that Almaden Minerals Ltd. (AAU) would settle between $0.76/share to $0.78/share level. However, if the stock price goes below the $0.72 mark, then the market for Almaden Minerals Ltd. becomes much weaker. If that happens, the stock price might even plunge as low as $0.7 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.03. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.