Kinross Gold Corporation Stock Forecast
Kinross Gold Corporation stock upgraded from Hold/Accumulate to Buy Candidate after Wednesday trading session.
(Updated on Apr 17, 2024)
The Kinross Gold Corporation stock price gained 1.38% on the last trading day (Wednesday, 17th Apr 2024), rising from $8.72 to $8.84. During the last trading day the stock fluctuated 3.10% from a day low at $8.72 to a day high of $8.99. The price has been going up and down for this period, and there has been a 1.96% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately $35.27 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 $8.97 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 22.89% during the next 3 months and, with a 90% probability hold a price between $9.11 and $11.02 at the end of this 3-month period.
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K.TO Signals & Forecast
The Kinross Gold Corporation 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 $8.79 and $7.92. 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 Thursday, April 11, 2024, and so far it has fallen -0.226%. Further fall is indicated until a new bottom pivot has been found. The stock had a Golden Star Signal on Tuesday, October 10, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Tuesday, October 10, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Kinross Gold Corporation stock
On the downside, the stock finds support just below today's level from accumulated volume at $7.70 and $7.07. 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, Kinross Gold Corporation finds support just below today's level at $7.70. If this is broken, then the next support from accumulated volume will be at $7.07 and $6.64.
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 $0.270 between high and low, or 3.10%. For the last week, the stock has had daily average volatility of 3.84%.
Our recommended stop-loss: $8.52 (-3.57%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (K.TO) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Kinross Gold Corporation to open at $8.85, and during the day (based on 14 day Average True Range), to move between $8.56 and $9.12, which gives a possible trading interval of +/-$0.277 (+/-3.13%) up or down from last closing price. If Kinross Gold Corporation takes out the full calculated possible swing range there will be an estimated 6.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $8.86 (0.23%) than the support at $7.70 (12.90%), 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 Kinross Gold Corporation stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Kinross Gold Corporation stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.334 Buy Candidate Upgraded
Predicted Opening Price for Kinross Gold Corporation of Thursday, April 18, 2024
Fair opening price April 18, 2024 | Current price |
---|---|
$8.85 ( 0.113%) | $8.84 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for K.TO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 9.12 | 3.17 % | |
R2 | 9.02 | 2.00 % | ||
R1 | 8.95 | 1.28 % | ||
Current price: | 8.84 | |||
Support | S1 | 8.75 | -1.05 % | |
S2 | 8.68 | -1.77 % | ||
S3 | 8.58 | -2.94 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 8.86 | 0.226 % | ||
Current price | 8.84 | |||
Support | S1 | 7.70 | -12.90% | |
S2 | 7.07 | -20.02% | ||
S3 | 6.64 | -24.89% |
K Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 14, 2024 | Mar 05, 2024 | Mar 21, 2024 | $0.0404 | 0.521% |
2 | Nov 08, 2023 | Nov 29, 2023 | Dec 14, 2023 | $0.0420 | 0.512% |
3 | Aug 02, 2023 | Aug 23, 2023 | Sep 08, 2023 | $0.0300 | 0.460% |
4 | May 09, 2023 | May 31, 2023 | Sep 08, 2023 | $0.0410 | 0.629% |
5 | Feb 15, 2023 | Mar 07, 2023 | Mar 23, 2023 | $0.0410 | 0.701% |
FAQ
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