First Quantum Minerals Ltd. 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
First Quantum Minerals Ltd. stock downgraded to Hold/Accumulate
(Updated on May 17, 2024)
The First Quantum Minerals Ltd. stock price gained 4.46% on the last trading day (Friday, 17th May 2024), rising from $18.60 to $19.43. During the last trading day the stock fluctuated 6.54% from a day low at $18.27 to a day high of $19.46. The price has fallen in 5 of the last 10 days but is still up by 4.57% 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, 3 million more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $57.44 million.
The stock lies in the upper part of a wide and strong 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 $19.86 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 51.55% during the next 3 months and, with a 90% probability hold a price between $26.03 and $30.09 at the end of this 3-month period.
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FM.TO Signals & Forecast
The First Quantum Minerals Ltd. 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 $18.63 and $16.74. A breakdown below any of these levels will issue sell signals. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, May 14, 2024, and so far it has fallen -0.512%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for First Quantum Minerals Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at $17.48 and $15.01. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, First Quantum Minerals Ltd. finds support just below today's level at $17.48. If this is broken, then the next support from accumulated volume will be at $15.01 and $14.86.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $1.20 between high and low, or 6.54%. For the last week, the stock has had daily average volatility of 5.23%.
Our recommended stop-loss: $18.67 (-3.91%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (FM.TO) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect First Quantum Minerals Ltd. to open at $19.05, and during the day (based on 14 day Average True Range), to move between $18.46 and $20.40, which gives a possible trading interval of +/-$0.97 (+/-4.97%) 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 9.94% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $19.53 (0.51%) than the support at $17.48 (10.04%), 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 First Quantum Minerals Ltd. stock A Buy?
First Quantum Minerals Ltd. 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: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for First Quantum Minerals Ltd. of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| $19.05 ( 1.95%) | $19.43 |
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 | 20.25 | 4.20 % | |
| R2 | 19.79 | 1.85 % | ||
| R1 | 19.51 | 0.402 % | ||
| Current price: | 19.43 | |||
| Support | S1 | 18.60 | -4.30 % | |
| S2 | 18.31 | -5.75 % | ||
| S3 | 17.86 | -8.10 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 19.53 | 0.515 % | ||
| Current price | 19.43 | |||
| Support | S1 | 17.48 | -10.04% | |
| S2 | 15.01 | -22.75% | ||
| S3 | 14.86 | -23.52% |
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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