Gold Fields Limited Stock Forecast
Green day on Wednesday for Gold Fields Limited
(Updated on May 08, 2024)
The Gold Fields Limited stock price gained 0.94% on the last trading day (Wednesday, 8th May 2024), rising from $15.90 to $16.05. During the last trading day the stock fluctuated 3.60% from a day low at $15.54 to a day high of $16.10. The price has risen in 7 of the last 10 days but is still down by -5.37% for this period. Volume fell on the last day by -1 million shares and in total, 2 million shares were bought and sold for approximately $38.28 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $15.98 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 32.44% during the next 3 months and, with a 90% probability hold a price between $21.16 and $26.08 at the end of this 3-month period.
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GFI Signals & Forecast
Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Gold Fields Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $16.27 and $16.71. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -11.76%. 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 Gold Fields Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at $14.68 and $12.92. 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, Gold Fields Limited finds support just below today's level at $14.68. If this is broken, then the next support from accumulated volume will be at $12.92 and $12.73.
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 $0.560 between high and low, or 3.60%. For the last week, the stock has had daily average volatility of 2.84%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GFI) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Gold Fields Limited to open at $15.90, and during the day (based on 14 day Average True Range), to move between $15.38 and $16.72, which gives a possible trading interval of +/-$0.667 (+/-4.16%) up or down from last closing price. If Gold Fields Limited takes out the full calculated possible swing range there will be an estimated 8.32% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $17.28 (7.66%) than the support at $14.68 (8.54%), 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 Gold Fields Limited stock A Buy?
The Gold Fields Limited stock holds several negative signals and despite the positive trend, we believe Gold Fields Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.605 Sell Candidate Unchanged
Predicted Opening Price for Gold Fields Limited of Thursday, May 9, 2024
Fair opening price May 9, 2024 | Current price |
---|---|
$15.90 ( 0.96%) | $16.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GFI
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 16.46 | 2.53 % | |
R2 | 16.24 | 1.20 % | ||
R1 | 16.11 | 0.377 % | ||
Current price: | 16.05 | |||
Support | S1 | 15.68 | -2.29 % | |
S2 | 15.55 | -3.11 % | ||
S3 | 15.34 | -4.44 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 18.16 | 13.15 % | |
R2 | 17.40 | 8.41 % | ||
R1 | 17.28 | 7.66 % | ||
Current price | 16.05 | |||
Support | S1 | 14.68 | -8.54% | |
S2 | 12.92 | -19.50% | ||
S3 | 12.73 | -20.69% |
GFI Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 14, 2024 | Mar 14, 2024 | Mar 28, 2024 | $0.175 | 1.10% |
2 | Aug 22, 2023 | Sep 07, 2023 | Sep 21, 2023 | $0.140 | 1.17% |
3 | Feb 28, 2023 | Mar 16, 2023 | Mar 30, 2023 | $0.243 | 1.80% |
4 | Aug 30, 2022 | Sep 15, 2022 | Sep 29, 2022 | $0.178 | 2.20% |
5 | Feb 18, 2022 | Mar 10, 2022 | Mar 24, 2022 | $0.174 | 1.09% |
FAQ
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