Kinross Gold Corporation Stock Forecast
Stronger technical forecast for Kinross Gold Corporation stock price after Wednesday trading.
(Updated on Mar 27, 2024)
The Kinross Gold Corporation stock price gained 3.16% on the last trading day (Wednesday, 27th Mar 2024), rising from $5.70 to $5.88. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 3.24% from a day low at $5.71 to a day high of $5.89. The price has been going up and down for this period, and there has been a 2.98% gain for the last 2 weeks. Volume fell on the last day by -1 million shares and in total, 10 million shares were bought and sold for approximately $61.17 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.
Given the current short-term trend, the stock is expected to fall -4.33% during the next 3 months and, with a 90% probability hold a price between $4.49 and $5.63 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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KGC Signals & Forecast
Mostly positive signals in the chart today. 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 $5.71 and $5.32. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, February 28, 2024, and so far it has risen 23.01%. 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 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 Kinross Gold Corporation stock
Kinross Gold Corporation finds support from accumulated volume at $5.72 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 $0.185 between high and low, or 3.24%. For the last week, the stock has had daily average volatility of 3.34%.
Our recommended stop-loss: $5.57 (-5.20%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 20 days ago.)
Trading Expectations (KGC) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Kinross Gold Corporation to open at $5.83, and during the day (based on 14 day Average True Range), to move between $5.69 and $6.07, which gives a possible trading interval of +/-$0.191 (+/-3.25%) up or down from last closing price. If Kinross Gold Corporation takes out the full calculated possible swing range there will be an estimated 6.50% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $5.89 (0.17%) than the support at $5.72 (2.72%), 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 are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for 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: 4.896 Buy Candidate Upgraded
Predicted Opening Price for Kinross Gold Corporation of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$5.83 ( 0.94%) | $5.88 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KGC
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 6.01 | 2.21 % | |
R2 | 5.94 | 1.01 % | ||
R1 | 5.90 | 0.266 % | ||
Current price: | 5.88 | |||
Support | S1 | 5.75 | -2.14 % | |
S2 | 5.71 | -2.88 % | ||
S3 | 5.64 | -4.08 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 6.08 | 3.40 % | |
R2 | 5.92 | 0.680 % | ||
R1 | 5.89 | 0.170 % | ||
Current price | 5.88 | |||
Support | S1 | 5.72 | -2.72% | |
S2 | 5.63 | -4.25% | ||
S3 | 5.37 | -8.67% |
KGC Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 14, 2024 | Mar 05, 2024 | Mar 21, 2024 | $0.0300 | 0.524% |
2 | Nov 08, 2023 | Nov 29, 2023 | Dec 14, 2023 | $0.0300 | 0.490% |
3 | Aug 02, 2023 | Aug 23, 2023 | Sep 08, 2023 | $0.0300 | 0.629% |
4 | May 09, 2023 | May 31, 2023 | Jun 15, 2023 | $0.0300 | 0.616% |
5 | Feb 15, 2023 | Mar 07, 2023 | Mar 23, 2023 | $0.0300 | 0.703% |
FAQ
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