Anglo American Platinum Limited Stock Forecast
Anglo American Platinum Limited stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on May 17, 2024)
The Anglo American Platinum Limited stock price gained 1.16% on the last trading day (Friday, 17th May 2024), rising from $7.11 to $7.19. 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 2.40% from a day low at $7.07 to a day high of $7.24. The price has risen in 7 of the last 10 days and is up by 18.3% 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, 13 thousand more shares were traded than the day before. In total, 94 thousand shares were bought and sold for approximately $678.10 thousand.
The stockis at the upper part of a very wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $7.47 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Anglo American Platinum Limited stock with a 90% probability to be traded between $5.68 and $7.49 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
Mostly positive signals in the chart today. The Anglo American Platinum Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $6.83 and $6.68. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 27.08%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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.
Support, Risk & Stop-loss for Anglo American Platinum Limited stock
Anglo American Platinum Limited finds support from accumulated volume at $7.09 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 $0.170 between high and low, or 2.40%. For the last week, the stock has had daily average volatility of 4.62%.
Our recommended stop-loss: $6.93 (-3.64%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 16 days ago.)
Trading Expectations (ANGPY) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Anglo American Platinum Limited to open at $7.17, and during the day (based on 14 day Average True Range), to move between $6.85 and $7.53, which gives a possible trading interval of +/-$0.338 (+/-4.69%) 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 9.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $7.22 (0.38%) than the support at $7.09 (1.43%), 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 American Platinum Limited stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Anglo American Platinum Limited stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.328 Buy Candidate Upgraded
Predicted Opening Price for Anglo American Platinum Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $7.17 ( 0.348%) | $7.19 |
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 | 7.34 | 2.02 % | |
| R2 | 7.27 | 1.11 % | ||
| R1 | 7.23 | 0.555 % | ||
| Current price: | 7.19 | |||
| Support | S1 | 7.10 | -1.25 % | |
| S2 | 7.06 | -1.81 % | ||
| S3 | 7.00 | -2.71 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.46 | 3.72 % | |
| R2 | 7.42 | 3.16 % | ||
| R1 | 7.22 | 0.382 % | ||
| Current price | 7.19 | |||
| Support | S1 | 7.09 | -1.43% | |
| S2 | 7.00 | -2.75% | ||
| S3 | 5.66 | -21.31% |
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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