Alumina Ltd Stock Forecast
Green day on Friday for Alumina Ltd
(Updated on Jun 28, 2024)
The Alumina Ltd stock price gained 0.682% on the last trading day (Friday, 28th Jun 2024), rising from $4.40 to $4.43. During the last trading day the stock fluctuated 0.226% from a day low at $4.43 to a day high of $4.44. The price has risen in 6 of the last 10 days and is up by 1.14% 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, 800 more shares were traded than the day before. In total, 900 shares were bought and sold for approximately $3.99 thousand.
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 $4.34 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 20.56% during the next 3 months and, with a 90% probability hold a price between $5.23 and $6.38 at the end of this 3-month period.
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AWCMY Signals & Forecast
Alumina Ltd 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. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Alumina Ltd 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 $4.45 and $4.56. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 30, 2024, and so far it has fallen -11.40%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Alumina Ltd stock
Alumina Ltd finds support from accumulated volume at $4.37 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 $0.0100 between high and low, or 0.226%. For the last week, the stock has had daily average volatility of 0.711%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AWCMY) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Alumina Ltd to open at $4.43, and during the day (based on 14 day Average True Range), to move between $4.31 and $4.55, which gives a possible trading interval of +/-$0.124 (+/-2.80%) up or down from last closing price. If Alumina Ltd takes out the full calculated possible swing range there will be an estimated 5.60% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $4.37 (1.35%) than the resistance at $4.77 (7.67%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Alumina Ltd stock A Buy?
The Alumina Ltd stock holds several negative signals and despite the positive trend, we believe Alumina Ltd will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.457 Sell Candidate Unchanged
Predicted Opening Price for Alumina Ltd of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $4.43 ( 0.0752%) | $4.43 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AWCMY
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.44 | 0.301% |
| R2 | 4.44 | 0.215% |
| R1 | 4.44 | 0.161% |
| Price | 4.43 | |
| S1 | 4.43 | -0.0110% |
| S2 | 4.43 | -0.0643% |
| S3 | 4.42 | -0.150% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.89 | 10.38% |
| R2 | 4.85 | 9.48% |
| R1 | 4.77 | 7.67% |
| Price | 4.43 | |
| S1 | 4.37 | -1.35% |
| S2 | 4.02 | -9.16% |
| S3 | 4.00 | -9.71% |
AWCMY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 01, 2022 | Sep 01, 2022 | Sep 20, 2022 | $0.168 | 4.40% |
| 2 | Mar 03, 2022 | Mar 03, 2022 | Mar 03, 2022 | $0.112 | 1.84% |
| 3 | Aug 24, 2021 | Sep 02, 2021 | Sep 27, 2021 | $1.36 | 23.56% |
| 4 | Feb 23, 2021 | Mar 04, 2021 | Mar 26, 2021 | $0.116 | 2.38% |
| 5 | Sep 03, 2020 | Sep 03, 2020 | Sep 03, 2020 | $0.112 | 2.90% |
FAQ
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