Companhia Siderúrgica Nacional Stock Forecast
Companhia Siderúrgica Nacional stock upgraded to Hold/Accumulate.
(Updated on May 29, 2024)
The Companhia Siderúrgica Nacional stock price fell by -0.601% on the last day (Wednesday, 29th May 2024) from R$13.31 to R$13.23. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 1.69% from a day low at R$13.04 to a day high of R$13.26. The price has been going up and down for this period, and there has been a 1.15% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -471 thousand shares and in total, 5 million shares were bought and sold for approximately R$64.89 million.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -20.55% during the next 3 months and, with a 90% probability hold a price between R$9.94 and R$10.78 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
CSNA3.SA Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 15, 2024, and so far it has risen 1.15%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Companhia Siderúrgica Nacional 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 R$13.33 and R$13.92. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Companhia Siderúrgica Nacional stock
Companhia Siderúrgica Nacional finds support from accumulated volume at R$13.10 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 R$0.220 between high and low, or 1.69%. For the last week, the stock has had daily average volatility of 2.53%.
Our recommended stop-loss: R$12.50 (-5.55%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 49 days ago.)
Trading Expectations (CSNA3.SA) For The Upcoming Trading Day Of Friday 31st
For the upcoming trading day on Friday, 31st we expect Companhia Siderúrgica Nacional to open at R$13.18, and during the day (based on 14 day Average True Range), to move between R$12.81 and R$13.65, which gives a possible trading interval of +/-R$0.416 (+/-3.14%) up or down from last closing price. If Companhia Siderúrgica Nacional takes out the full calculated possible swing range there will be an estimated 6.28% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at R$13.10 (0.98%) than the resistance at R$14.32 (8.24%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Companhia Siderúrgica Nacional stock A Buy?
Companhia Siderúrgica Nacional holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.146 Hold/Accumulate Upgraded
Predicted Opening Price for Companhia Siderúrgica Nacional of Friday, May 31, 2024
| Fair opening price May 31, 2024 | Current price |
|---|---|
| R$13.18 ( 0.403%) | R$13.23 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CSNA3.SA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.40 | 1.26 % | |
| R2 | 13.31 | 0.625 % | ||
| R1 | 13.26 | 0.232 % | ||
| Current price: | 13.23 | |||
| Support | S1 | 13.09 | -1.04 % | |
| S2 | 13.04 | -1.43 % | ||
| S3 | 12.96 | -2.07 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.85 | 19.80 % | |
| R2 | 14.35 | 8.47 % | ||
| R1 | 14.32 | 8.24 % | ||
| Current price | 13.23 | |||
| Support | S1 | 13.10 | -0.98% | |
| S2 | 13.08 | -1.13% | ||
| S3 | 0 | . |
CSNA3 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 15, 2024 | May 15, 2024 | May 29, 2024 | R$0.716 | 5.41% |
| 2 | Nov 21, 2023 | Nov 21, 2023 | Nov 21, 2023 | R$0.743 | 5.00% |
| 3 | May 02, 2023 | May 02, 2023 | May 02, 2023 | R$0.631 | 5.48% |
| 4 | Dec 29, 2022 | Dec 29, 2022 | Dec 29, 2022 | R$0.528 | 4.37% |
| 5 | Nov 28, 2022 | Nov 28, 2022 | Nov 28, 2022 | R$1.18 | 11.09% |
FAQ
Click here for our free guide on how to buy Companhia Siderúrgica Nacional Stock.
