First Quantum Minerals Ltd. Stock Forecast
Red day on Wednesday for First Quantum Minerals Ltd.
(Updated on May 29, 2024)
The First Quantum Minerals Ltd. stock price fell by -4.38% on the last day (Wednesday, 29th May 2024) from $18.50 to $17.69. During the last trading day the stock fluctuated 4.00% from a day low at $17.51 to a day high of $18.21. The price has been going up and down for this period, and there has been a -9.42% loss for the last 2 weeks. Volume has increased on the last day by 498 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, 2 million shares were bought and sold for approximately $39.27 million.
Given the current short-term trend, the stock is expected to rise 43.14% during the next 3 months and, with a 90% probability hold a price between $25.32 and $29.50 at the end of this 3-month period.
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FM.TO Signals & Forecast
A sell signal was issued from a pivot top point on Tuesday, May 21, 2024, and so far it has fallen -11.55%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. Some positive signals were issued as well, and these may have some influence on the near short-term development. The First Quantum Minerals Ltd. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $18.42. On a fall, the stock will find some support from the long-term average at approximately $17.37. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal.
Support, Risk & Stop-loss for First Quantum Minerals Ltd. stock
First Quantum Minerals Ltd. finds support from accumulated volume at $17.48 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 $0.700 between high and low, or 4.00%. For the last week, the stock has had daily average volatility of 4.16%.
Our recommended stop-loss: $17.06 (-3.54%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 18 days ago.)
Trading Expectations (FM.TO) For The Upcoming Trading Day Of Thursday 30th
For the upcoming trading day on Thursday, 30th we expect First Quantum Minerals Ltd. to open at $17.80, and during the day (based on 14 day Average True Range), to move between $16.70 and $18.68, which gives a possible trading interval of +/-$0.99 (+/-5.59%) up or down from last closing price. If First Quantum Minerals Ltd. takes out the full calculated possible swing range there will be an estimated 11.17% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $17.48 (1.19%) than the resistance at $18.27 (3.28%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is First Quantum Minerals Ltd. stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.
Current score: 1.908 Buy Candidate Unchanged
Predicted Opening Price for First Quantum Minerals Ltd. of Thursday, May 30, 2024
| Fair opening price May 30, 2024 | Current price |
|---|---|
| $17.80 ( 0.641%) | $17.69 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FM.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 18.50 | 4.60 % | |
| R2 | 18.24 | 3.09 % | ||
| R1 | 18.07 | 2.15 % | ||
| Current price: | 17.69 | |||
| Support | S1 | 17.54 | -0.87 % | |
| S2 | 17.37 | -1.80 % | ||
| S3 | 17.10 | -3.32 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 20.00 | 13.06 % | |
| R2 | 18.58 | 5.03 % | ||
| R1 | 18.27 | 3.28 % | ||
| Current price | 17.69 | |||
| Support | S1 | 17.48 | -1.19% | |
| S2 | 15.01 | -15.15% | ||
| S3 | 13.91 | -21.37% |
FM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 25, 2023 | Aug 25, 2023 | Sep 19, 2023 | $0.0800 | 0.240% |
| 2 | Apr 14, 2023 | Apr 14, 2023 | May 08, 2023 | $0.130 | 0.359% |
| 3 | Jul 26, 2022 | Aug 26, 2022 | Sep 20, 2022 | $0.160 | 0.667% |
| 4 | Feb 16, 2022 | Apr 13, 2022 | May 06, 2022 | $0.0050 | 0.0151% |
| 5 | Jul 27, 2021 | Aug 27, 2021 | Sep 21, 2021 | $0.0050 | 0.0238% |
FAQ
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