Ivanhoe Mines Ltd. Class A Stock Forecast
Evaluation of Ivanhoe Mines Ltd. Class A stock downgraded after the last trading session.
(Updated on Jun 17, 2024)
No changes to the price of Ivanhoe Mines Ltd. Class A stock on the last trading day (Monday, 17th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at $17.48 to a day high of $17.48. The price has fallen in 5 of the last 10 days and is down by -8.67% for this period.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $17.40 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 14.95% during the next 3 months and, with a 90% probability hold a price between $20.00 and $25.49 at the end of this 3-month period.
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IVN.TO Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 13, 2024, and so far it has risen 0.98%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Ivanhoe Mines Ltd. Class A stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $17.74 and $19.21. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Ivanhoe Mines Ltd. Class A stock
Ivanhoe Mines Ltd. Class A finds support from accumulated volume at $16.86 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 2.50%
Ivanhoe Mines Ltd. Class A is oversold on RSI14 (22). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (IVN.TO) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Ivanhoe Mines Ltd. Class A to open at $17.48, and during the day (based on 14 day Average True Range), to move between $16.80 and $18.16, which gives a possible trading interval of +/-$0.682 (+/-3.90%) up or down from last closing price. If Ivanhoe Mines Ltd. Class A takes out the full calculated possible swing range there will be an estimated 7.81% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $16.86 (3.55%) than the resistance at $18.66 (6.75%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Ivanhoe Mines Ltd. Class A will release earnings BMO on Friday, June 21, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.0600. We will update the financials statements for Ivanhoe Mines Ltd. Class A, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.48% in the first trading day after earnings release.
Is Ivanhoe Mines Ltd. Class A stock A Buy?
The Ivanhoe Mines Ltd. Class A stock holds several negative signals and despite the positive trend, we believe Ivanhoe Mines Ltd. Class A will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.440 Sell Candidate Downgraded
Predicted Opening Price for Ivanhoe Mines Ltd. Class A of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| $17.48 ( 0%) | $17.48 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IVN.TO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 17.48 | - |
| R2 | 17.48 | - |
| R1 | 17.48 | - |
| Price | 17.48 | |
| S1 | 17.48 | - |
| S2 | 17.48 | - |
| S3 | 17.48 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 20.36 | 16.48% |
| R2 | 19.21 | 9.90% |
| R1 | 18.66 | 6.75% |
| Price | 17.48 | |
| S1 | 16.86 | -3.55% |
| S2 | 16.49 | -5.66% |
| S3 | 16.26 | -6.98% |
FAQ
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