Anglo American Platinum Limited Stock Forecast
Anglo American Platinum Limited stock price up 3.65% on Tuesday
(Updated on May 07, 2024)
The Anglo American Platinum Limited stock price gained 3.65% on the last trading day (Tuesday, 7th May 2024), rising from $6.17 to $6.39. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.27% from a day low at $6.32 to a day high of $6.40. The price has risen in 6 of the last 10 days and is up by 4.24% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 57 thousand more shares were traded than the day before. In total, 102 thousand shares were bought and sold for approximately $654.41 thousand.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Anglo American Platinum Limited stock with a 90% probability to be traded between $5.76 and $7.60 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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ANGPY Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 12.90%. Further rise is indicated until a new top pivot has been found. Anglo American Platinum Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Anglo American Platinum Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $6.70. On a fall, the stock will find some support from the short-term average at $6.13. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Anglo American Platinum Limited stock
Anglo American Platinum Limited finds support from accumulated volume at $6.13 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0800 between high and low, or 1.27%. For the last week, the stock has had daily average volatility of 3.03%.
Our recommended stop-loss: $6.12 (-4.22%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (ANGPY) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Anglo American Platinum Limited to open at $6.37, and during the day (based on 14 day Average True Range), to move between $6.07 and $6.71, which gives a possible trading interval of +/-$0.315 (+/-4.93%) up or down from last closing price. If Anglo American Platinum Limited takes out the full calculated possible swing range there will be an estimated 9.86% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $6.13 (4.07%) than the resistance at $7.04 (10.17%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Anglo American Platinum Limited will release earnings BMO on Thursday, May 09, 2024. We will update the financials statements for Anglo American Platinum Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.32% in the first trading day after earnings release.
Is Anglo American Platinum Limited stock A Buy?
Anglo American Platinum Limited 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 American Platinum Limited of Wednesday, May 8, 2024
Fair opening price May 8, 2024 | Current price |
---|---|
$6.37 ( 0.313%) | $6.39 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ANGPY
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 6.45 | 0.94 % | |
R2 | 6.42 | 0.461 % | ||
R1 | 6.40 | 0.165 % | ||
Current price: | 6.39 | |||
Support | S1 | 6.34 | -0.791 % | |
S2 | 6.32 | -1.09 % | ||
S3 | 6.29 | -1.56 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 7.22 | 12.99 % | |
R2 | 7.09 | 10.95 % | ||
R1 | 7.04 | 10.17 % | ||
Current price | 6.39 | |||
Support | S1 | 6.13 | -4.07% | |
S2 | 5.79 | -9.39% | ||
S3 | 5.66 | -11.42% |
ANGPY Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 27, 2024 | Mar 27, 2024 | Apr 12, 2024 | $0.0573 | 0.772% |
2 | Jul 26, 2023 | Aug 24, 2023 | Sep 07, 2023 | $0.0793 | 1.48% |
3 | Jun 28, 2023 | Mar 30, 2023 | Apr 13, 2023 | $0.309 | 3.21% |
4 | Aug 06, 2022 | Aug 11, 2022 | Aug 25, 2022 | $0.797 | 6.28% |
5 | Mar 05, 2022 | Mar 10, 2022 | Mar 24, 2022 | $1.38 | 5.60% |
FAQ
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