Iluka Resources Limited Stock Forecast
Green day on Monday for Iluka Resources Limited
(Updated on Jun 03, 2024)
The Iluka Resources Limited stock price gained 1.82% on the last trading day (Monday, 3rd Jun 2024), rising from $7.15 to $7.28. During the last trading day the stock fluctuated 1.80% from a day low at $7.23 to a day high of $7.36. The price has fallen in 7 of the last 10 days and is down by -7.38% for this period. Volume fell on the last day by -848 shares and in total, 1 million shares were bought and sold for approximately $10.70 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $7.05 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 9.71% during the next 3 months and, with a 90% probability hold a price between $7.74 and $9.10 at the end of this 3-month period.
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ILU.AX Signals & Forecast
There are mixed signals in the stock today. The Iluka Resources Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $7.52. On a fall, the stock will find some support from the short-term average at $7.24. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Thursday, May 30, 2024, and so far it has risen 3.56%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Iluka Resources Limited stock
Iluka Resources Limited finds support from accumulated volume at $7.26 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 $0.130 between high and low, or 1.80%. For the last week, the stock has had daily average volatility of 2.83%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ILU.AX) For The Upcoming Trading Day Of Tuesday 4th
For the upcoming trading day on Tuesday, 4th we expect Iluka Resources Limited to open at $7.29, and during the day (based on 14 day Average True Range), to move between $7.03 and $7.53, which gives a possible trading interval of +/-$0.245 (+/-3.37%) up or down from last closing price. If Iluka Resources Limited takes out the full calculated possible swing range there will be an estimated 6.73% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $7.26 (0.27%) than the resistance at $7.38 (1.37%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Iluka Resources Limited stock A Buy?
Iluka Resources Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.696 Sell Candidate Unchanged
Predicted Opening Price for Iluka Resources Limited of Tuesday, June 4, 2024
| Fair opening price June 4, 2024 | Current price |
|---|---|
| $7.29 ( 0.137%) | $7.28 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ILU.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.42 | 1.92 % | |
| R2 | 7.37 | 1.24 % | ||
| R1 | 7.34 | 0.82 % | ||
| Current price: | 7.28 | |||
| Support | S1 | 7.24 | -0.545 % | |
| S2 | 7.21 | -0.97 % | ||
| S3 | 7.16 | -1.65 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.08 | 10.99 % | |
| R2 | 7.59 | 4.26 % | ||
| R1 | 7.38 | 1.37 % | ||
| Current price | 7.28 | |||
| Support | S1 | 7.26 | -0.275% | |
| S2 | 7.24 | -0.549% | ||
| S3 | 7.21 | -0.96% |
ILU Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 05, 2024 | Mar 05, 2024 | Mar 28, 2024 | $0.0400 | 0.555% |
| 2 | Mar 06, 2023 | Mar 06, 2023 | Mar 06, 2023 | $0.200 | 1.89% |
| 3 | Sep 05, 2022 | Sep 05, 2022 | Sep 05, 2022 | $0.250 | 2.54% |
| 4 | Mar 08, 2022 | Mar 08, 2022 | Mar 08, 2022 | $0.120 | 1.17% |
| 5 | Sep 07, 2021 | Sep 07, 2021 | Sep 07, 2021 | $0.120 | 1.20% |
FAQ
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