IAMGOLD Corp Stock Forecast
IAMGOLD Corp stock upgraded from Buy Candidate to Strong Buy Candidate after Thursday trading session.
(Updated on May 02, 2024)
The IAMGOLD Corp stock price gained 3.03% on the last trading day (Thursday, 2nd May 2024), rising from £173.05 to £178.30. During the last trading day the stock fluctuated 3.75% from a day low at £172.00 to a day high of £178.45. The price has risen in 6 of the last 10 days and is up by 5.01% 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, 29 million more shares were traded than the day before. In total, 33 million shares were bought and sold for approximately £5.82 billion.
The stock lies in the middle of a 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 23.56% during the next 3 months and, with a 90% probability hold a price between £203.77 and £234.52 at the end of this 3-month period.
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IAG.L Signals & Forecast
Mostly positive signals in the chart today. The IAMGOLD Corp 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 £176.15 and £168.77. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 12.99%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for IAMGOLD Corp stock
On the downside, the stock finds support just below today's level from accumulated volume at £166.70 and £158.15. 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, IAMGOLD Corp finds support just below today's level at £166.70. If this is broken, then the next support from accumulated volume will be at £158.15 and £147.25.
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 £6.45 between high and low, or 3.75%. For the last week, the stock has had daily average volatility of 2.85%.
Our recommended stop-loss: £171.95 (-3.56%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (IAG.L) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect IAMGOLD Corp to open at £176.25, and during the day (based on 14 day Average True Range), to move between £173.00 and £183.60, which gives a possible trading interval of +/-£5.30 (+/-2.97%) up or down from last closing price. If IAMGOLD Corp takes out the full calculated possible swing range there will be an estimated 5.94% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ £166.70, some £11.60 (6.51%) from the current price of £178.30, our system finds the risk reward attractive.
Earnings coming up
IAMGOLD Corp will release earnings BMO on Friday, May 10, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.0700. We will update the financials statements for IAMGOLD Corp, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 7.33% in the first trading day after earnings release.
Is IAMGOLD Corp stock A Buy?
IAMGOLD Corp 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: 6.238 Strong Buy Candidate Upgraded
Predicted Opening Price for IAMGOLD Corp of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| £176.25 ( 1.15%) | £178.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IAG.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 182.70 | 2.47 % | |
| R2 | 180.24 | 1.09 % | ||
| R1 | 178.71 | 0.232 % | ||
| Current price: | 178.30 | |||
| Support | S1 | 173.79 | -2.53 % | |
| S2 | 172.26 | -3.39 % | ||
| S3 | 169.80 | -4.77 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 178.30 | |||
| Support | S1 | 166.70 | -6.51% | |
| S2 | 158.15 | -11.30% | ||
| S3 | 147.25 | -17.41% |
IAG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 27, 2020 | Jul 02, 2020 | Jul 06, 2020 | £17.00 | 7.46% |
| 2 | Oct 30, 2019 | Nov 28, 2019 | Dec 02, 2019 | £14.50 | 2.67% |
| 3 | Feb 27, 2019 | Jul 04, 2019 | Jul 08, 2019 | £35.00 | 7.77% |
| 4 | Oct 25, 2018 | Nov 29, 2018 | Dec 03, 2018 | £14.50 | 2.32% |
| 5 | Feb 23, 2018 | Jun 28, 2018 | Jul 02, 2018 | £14.50 | 2.22% |
FAQ
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