Anglo Asian Mining Stock Forecast
Green day on Friday for Anglo Asian Mining
(Updated on Apr 26, 2024)
The Anglo Asian Mining stock price gained 2.44% on the last trading day (Friday, 26th Apr 2024), rising from £61.50 to £63.00. During the last trading day the stock fluctuated 8.15% from a day low at £60.10 to a day high of £65.00. The price has fallen in 4 of the last 10 days and is down by -2.33% for this period. Volume fell on the last day by -45 thousand shares and in total, 49 thousand shares were bought and sold for approximately £3.06 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 middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 5.89% during the next 3 months and, with a 90% probability hold a price between £59.14 and £72.86 at the end of this 3-month period.
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AAZ.L Signals & Forecast
The Anglo Asian Mining stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately £65.16. On a fall, the stock will find some support from the long-term average at approximately £59.75. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 2.44%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The stock had a Golden Star Signal on Wednesday, March 27, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Wednesday, March 27, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
A buy signal from a double bottom formation was found on Thursday, February 29, 2024 and based on theory for this formation the price should go up by 0% to £63.00 within 5 trading days since signal was issued (Monday, April 29, 2024).
Support, Risk & Stop-loss for Anglo Asian Mining stock
Anglo Asian Mining finds support from accumulated volume at £62.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 £4.90 between high and low, or 8.15%. For the last week, the stock has had daily average volatility of 8.57%.
Our recommended stop-loss: £60.13 (-4.55%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (AAZ.L) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Anglo Asian Mining to open at £62.70, and during the day (based on 14 day Average True Range), to move between £57.55 and £68.45, which gives a possible trading interval of +/-£5.45 (+/-8.65%) up or down from last closing price. If Anglo Asian Mining takes out the full calculated possible swing range there will be an estimated 17.29% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £63.50 (0.79%) than the support at £62.50 (0.79%), 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 Anglo Asian Mining stock A Buy?
Anglo Asian Mining holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.471 Hold/Accumulate Unchanged
Predicted Opening Price for Anglo Asian Mining of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| £62.70 ( 0.476%) | £63.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AAZ.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 67.60 | 7.30 % | |
| R2 | 65.73 | 4.33 % | ||
| R1 | 64.57 | 2.49 % | ||
| Current price: | 63.00 | |||
| Support | S1 | 60.83 | -3.45 % | |
| S2 | 59.67 | -5.28 % | ||
| S3 | 57.80 | -8.25 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 68.50 | 8.73 % | |
| R2 | 64.50 | 2.38 % | ||
| R1 | 63.50 | 0.794 % | ||
| Current price | 63.00 | |||
| Support | S1 | 62.50 | -0.794% | |
| S2 | 60.00 | -4.76% | ||
| S3 | 59.50 | -5.56% |
AAZ Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 29, 2023 | Jun 29, 2023 | Jun 29, 2023 | £3.14 | 3.22% |
| 2 | Sep 15, 2022 | Sep 29, 2022 | Nov 03, 2022 | £3.56 | 4.47% |
| 3 | May 17, 2022 | Jun 30, 2022 | Jul 28, 2022 | £2.92 | 3.16% |
| 4 | Sep 23, 2021 | Oct 07, 2021 | Nov 04, 2021 | £4.50 | 4.05% |
| 5 | May 20, 2021 | Jul 01, 2021 | Jul 29, 2021 | £2.54 | 1.82% |
FAQ
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