United Company RUSAL Plc Stock Forecast
Red day on Friday for United Company RUSAL Plc stock after losing 0.784%
(Updated on May 17, 2024)
The United Company RUSAL Plc stock price fell by -0.784% on the last day (Friday, 17th May 2024) from HK$2.55 to HK$2.53. During the last trading day the stock fluctuated 2.78% from a day low at HK$2.52 to a day high of HK$2.59. The price has fallen in 7 of the last 10 days and is down by -2.32% for this period. Volume has increased on the last day by 1 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 2 million shares were bought and sold for approximately HK$5.04 million.
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 HK$2.53 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 10.76% during the next 3 months and, with a 90% probability hold a price between HK$2.80 and HK$3.40 at the end of this 3-month period.
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0486.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, May 13, 2024, and so far it has risen 0.797%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The United Company RUSAL Plc 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 HK$2.55 and HK$2.56. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for United Company RUSAL Plc stock
United Company RUSAL Plc finds support from accumulated volume at HK$2.43 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved HK$0.0700 between high and low, or 2.78%. For the last week the stock has had daily average volatility of 3.35%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (0486.HK) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect United Company RUSAL Plc to open at HK$2.55, and during the day (based on 14 day Average True Range), to move between HK$2.44 and HK$2.62, which gives a possible trading interval of +/-HK$0.0904 (+/-3.57%) up or down from last closing price. If United Company RUSAL Plc takes out the full calculated possible swing range there will be an estimated 7.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at HK$2.55 (0.79%) than the support at HK$2.43 (3.95%), 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 United Company RUSAL Plc stock A Buy?
The United Company RUSAL Plc stock holds several negative signals and despite the positive trend, we believe United Company RUSAL Plc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.532 Sell Candidate Unchanged
Predicted Opening Price for United Company RUSAL Plc of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| HK$2.55 ( 0.659%) | HK$2.53 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0486.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.62 | 3.43 % | |
| R2 | 2.59 | 2.37 % | ||
| R1 | 2.57 | 1.72 % | ||
| Current price: | 2.53 | |||
| Support | S1 | 2.52 | -0.398 % | |
| S2 | 2.50 | -1.05 % | ||
| S3 | 2.48 | -2.11 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.93 | 15.81 % | |
| R2 | 2.73 | 7.91 % | ||
| R1 | 2.55 | 0.791 % | ||
| Current price | 2.53 | |||
| Support | S1 | 2.43 | -3.95% | |
| S2 | 2.39 | -5.53% | ||
| S3 | 2.30 | -9.09% |
0486 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Oct 19, 2022 | Oct 19, 2022 | Oct 19, 2022 | HK$0.0200 | 0.597% |
| 2 | Oct 17, 2022 | Oct 17, 2022 | Oct 17, 2022 | HK$0.0200 | 0.597% |
| 3 | Sep 07, 2017 | Sep 07, 2017 | Sep 07, 2017 | HK$0.0197 | 0.351% |
| 4 | Sep 29, 2016 | Sep 29, 2016 | Sep 29, 2016 | HK$0.0165 | 0.648% |
| 5 | Oct 27, 2015 | Oct 27, 2015 | Oct 27, 2015 | HK$0.0165 | 0.533% |
FAQ
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