Fresnillo PLC Stock Forecast
Fresnillo PLC stock upgraded to Strong Buy Candidate.
(Updated on May 17, 2024)
The Fresnillo PLC stock price gained 3.36% on the last trading day (Friday, 17th May 2024), rising from £595.00 to £615.00. During the last trading day the stock fluctuated 5.76% from a day low at £590.00 to a day high of £624.00. The price has risen in 5 of the last 10 days and is up by 10.22% 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, 770 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately £1.01 billion.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 31.76% during the next 3 months and, with a 90% probability hold a price between £712.70 and £906.13 at the end of this 3-month period.
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FRES.L Signals & Forecast
The Fresnillo PLC 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 £585.29 and £567.61. A breakdown below any of these levels will issue sell signals. 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 Friday, April 12, 2024, and so far it has fallen -1.20%. 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 Fresnillo PLC stock
Fresnillo PLC finds support from accumulated volume at £587.00 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 £34.00 between high and low, or 5.76%. For the last week, the stock has had daily average volatility of 3.55%.
Our recommended stop-loss: £591.16 (-3.88%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 24 days ago.)
Trading Expectations (FRES.L) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Fresnillo PLC to open at £609.67, and during the day (based on 14 day Average True Range), to move between £593.36 and £636.64, which gives a possible trading interval of +/-£21.64 (+/-3.52%) up or down from last closing price. If Fresnillo PLC takes out the full calculated possible swing range there will be an estimated 7.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £622.50 (1.22%) than the support at £587.00 (4.55%), 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 Fresnillo PLC stock A Buy?
Fresnillo PLC holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.440 Strong Buy Candidate Upgraded
Predicted Opening Price for Fresnillo PLC of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| £609.67 ( 0.87%) | £615.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FRES.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 643.67 | 4.66 % | |
| R2 | 630.68 | 2.55 % | ||
| R1 | 622.65 | 1.24 % | ||
| Current price: | 615.00 | |||
| Support | S1 | 596.68 | -2.98 % | |
| S2 | 588.65 | -4.28 % | ||
| S3 | 575.67 | -6.40 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 622.50 | 1.22 % | ||
| Current price | 615.00 | |||
| Support | S1 | 587.00 | -4.55% | |
| S2 | 579.00 | -5.85% | ||
| S3 | 578.00 | -6.02% |
FRES Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 18, 2024 | Apr 18, 2024 | May 29, 2024 | £3.30 | 0.536% |
| 2 | Mar 07, 2023 | Apr 27, 2023 | May 26, 2023 | £10.68 | 1.63% |
| 3 | Aug 02, 2022 | Aug 11, 2022 | Sep 14, 2022 | £2.81 | 0.383% |
| 4 | Mar 08, 2022 | Apr 28, 2022 | May 27, 2022 | £19.18 | 2.39% |
| 5 | Aug 03, 2021 | Aug 12, 2021 | Sep 15, 2021 | £7.14 | 0.84% |
FAQ
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