Cia de Ferro Ligas da Bahia - FERBASA Stock Forecast
Cia de Ferro Ligas da Bahia - FERBASA stock downgraded from Buy Candidate to Hold/Accumulate after Friday trading session.
(Updated on Jun 28, 2024)
The Cia de Ferro Ligas da Bahia - FERBASA stock price fell by -1.59% on the last day (Friday, 28th Jun 2024) from R$8.20 to R$8.07. During the last trading day the stock fluctuated 2.11% from a day low at R$8.06 to a day high of R$8.23. The price has risen in 6 of the last 10 days and is up by 5.22% over the past 2 weeks. Volume has increased on the last day by 128 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 792 thousand shares were bought and sold for approximately R$6.39 million.
The stock lies in the middle of a wide and 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 -8.28% during the next 3 months and, with a 90% probability hold a price between R$6.88 and R$7.64 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.
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FESA4.SA Signals & Forecast
The Cia de Ferro Ligas da Bahia - FERBASA 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 R$7.95 and R$7.95. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 6.04%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Cia de Ferro Ligas da Bahia - FERBASA stock
Cia de Ferro Ligas da Bahia - FERBASA finds support from accumulated volume at R$8.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved R$0.170 between high and low, or 2.11%. For the last week the stock has had daily average volatility of 2.65%.
Our recommended stop-loss: R$7.72 (-4.40%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 23 days ago.)
Trading Expectations (FESA4.SA) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Cia de Ferro Ligas da Bahia - FERBASA to open at R$8.12, and during the day (based on 14 day Average True Range), to move between R$7.87 and R$8.27, which gives a possible trading interval of +/-R$0.203 (+/-2.52%) up or down from last closing price. If Cia de Ferro Ligas da Bahia - FERBASA takes out the full calculated possible swing range there will be an estimated 5.04% 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$8.00 (0.87%) than the resistance at R$8.19 (1.49%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Cia de Ferro Ligas da Bahia - FERBASA stock A Buy?
Cia de Ferro Ligas da Bahia - FERBASA 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.924 Hold/Accumulate Downgraded
Predicted Opening Price for Cia de Ferro Ligas da Bahia - FERBASA of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| R$8.12 ( 0.620%) | R$8.07 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FESA4.SA
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 8.29 | 2.73% |
| R2 | 8.23 | 1.92% |
| R1 | 8.18 | 1.42% |
| Price | 8.07 | |
| S1 | 8.06 | -0.185% |
| S2 | 8.01 | -0.682% |
| S3 | 7.95 | -1.49% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 8.54 | 5.82% |
| R2 | 8.26 | 2.35% |
| R1 | 8.19 | 1.49% |
| Price | 8.07 | |
| S1 | 8.00 | -0.87% |
| S2 | 7.95 | -1.49% |
| S3 | 7.82 | -3.10% |
FESA4 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 06, 2024 | Jun 06, 2024 | Jun 20, 2024 | R$0.0451 | 0.566% |
| 2 | Dec 19, 2023 | Dec 19, 2023 | Dec 27, 2023 | R$0.212 | 1.88% |
| 3 | Dec 08, 2023 | Dec 08, 2023 | Dec 08, 2023 | R$0.504 | 4.69% |
| 4 | Sep 08, 2023 | Sep 08, 2023 | Sep 08, 2023 | R$0.507 | 4.47% |
| 5 | Jun 09, 2023 | Jun 09, 2023 | Jun 09, 2023 | R$0.88 | 7.57% |
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