AngloGold Ashanti Limited Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Stronger technical forecast for AngloGold Ashanti Limited stock price after Tuesday trading.
(Updated on Jul 02, 2024)
The AngloGold Ashanti Limited stock price gained 1.63% on the last trading day (Tuesday, 2nd Jul 2024), rising from $25.11 to $25.52. During the last trading day the stock fluctuated 2.84% from a day low at $24.98 to a day high of $25.69. The price has risen in 8 of the last 10 days and is up by 12.57% 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, 120 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $30.22 million.
The stock lies in the upper part of a wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $26.25 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 3.30% during the next 3 months and, with a 90% probability hold a price between $23.32 and $27.12 at the end of this 3-month period.
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AU Signals & Forecast
Mostly positive signals in the chart today. The AngloGold Ashanti 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 $24.77 and $24.13. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 11, 2024, and so far it has risen 13.98%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for AngloGold Ashanti Limited stock
AngloGold Ashanti Limited finds support from accumulated volume at $24.26 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 $0.710 between high and low, or 2.84%. For the last week, the stock has had daily average volatility of 2.24%.
The AngloGold Ashanti Limited stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $24.65 (-3.42%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 79 and this increases the risk substantially. There is a buy signal from a pivot bottom found 29 days ago.)
Trading Expectations (AU) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect AngloGold Ashanti Limited to open at $25.40, and during the day (based on 14 day Average True Range), to move between $24.75 and $26.29, which gives a possible trading interval of +/-$0.766 (+/-3.00%) up or down from last closing price. If AngloGold Ashanti Limited takes out the full calculated possible swing range there will be an estimated 6.00% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $25.86 (1.33%) than the support at $24.26 (4.94%), 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 AngloGold Ashanti Limited stock A Buy?
AngloGold Ashanti Limited holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 7.150 Strong Buy Candidate Upgraded
Predicted Opening Price for AngloGold Ashanti Limited of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $25.40 ( 0.483%) | $25.52 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AU
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 26.11 | 2.30% |
| R2 | 25.84 | 1.24% |
| R1 | 25.67 | 0.579% |
| Price | 25.52 | |
| S1 | 25.13 | -1.55% |
| S2 | 24.96 | -2.20% |
| S3 | 24.69 | -3.27% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 25.86 | 1.33% |
| Price | 25.52 | |
| S1 | 24.26 | -4.94% |
| S2 | 23.85 | -6.54% |
| S3 | 22.03 | -13.68% |
AU Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 23, 2024 | Mar 14, 2024 | Mar 28, 2024 | $0.0732 | 0.330% |
| 2 | Feb 23, 2024 | Mar 13, 2024 | Mar 28, 2024 | $0.190 | 0.86% |
| 3 | Aug 14, 2023 | Aug 24, 2023 | Sep 18, 2023 | $0.0367 | 0.203% |
| 4 | Feb 22, 2023 | Mar 16, 2023 | Apr 10, 2023 | $0.177 | 0.664% |
| 5 | Aug 08, 2022 | Aug 25, 2022 | Sep 19, 2022 | $0.294 | 2.25% |
FAQ
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