Kinross Gold Corporation Stock Forecast
Green day on Friday for Kinross Gold Corporation stock after gaining 0.149%
(Updated on Apr 26, 2024)
The Kinross Gold Corporation stock price gained 0.149% on the last trading day (Friday, 26th Apr 2024), rising from $6.73 to $6.74. It has now gained 4 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 2.08% from a day low at $6.73 to a day high of $6.87. The price has risen in 8 of the last 10 days and is up by 5.64% over the past 2 weeks. Volume fell on the last day by -9 million shares and in total, 15 million shares were bought and sold for approximately $98.55 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 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 $6.90 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 31.71% during the next 3 months and, with a 90% probability hold a price between $7.74 and $9.09 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
KGC Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Friday, April 19, 2024, and so far it has fallen -0.443%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 $6.63 and $6.12. A breakdown below any of these levels will issue sell signals. 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
On the downside, the stock finds support just below today's level from accumulated volume at $6.40 and $6.38. 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 $6.40. If this is broken, then the next support from accumulated volume will be at $6.38 and $5.37.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.140 (2.08%) between high and low. For the last week, the stock has had daily average volatility of 3.21%.
Our recommended stop-loss: $6.51 (-3.41%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (KGC) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Kinross Gold Corporation to open at $6.78, and during the day (based on 14 day Average True Range), to move between $6.51 and $6.97, which gives a possible trading interval of +/-$0.228 (+/-3.38%) up or down from last closing price. If Kinross Gold Corporation takes out the full calculated possible swing range there will be an estimated 6.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $6.77 (0.45%) than the support at $6.40 (5.04%), 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.
Current score: 1.857 Buy Candidate Unchanged
Predicted Opening Price for Kinross Gold Corporation of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $6.78 ( 0.593%) | $6.74 |
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 | 6.92 | 2.67 % | |
| R2 | 6.87 | 1.88 % | ||
| R1 | 6.83 | 1.39 % | ||
| Current price: | 6.74 | |||
| Support | S1 | 6.73 | -0.200 % | |
| S2 | 6.69 | -0.690 % | ||
| S3 | 6.64 | -1.48 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 6.77 | 0.445 % | ||
| Current price | 6.74 | |||
| Support | S1 | 6.40 | -5.04% | |
| S2 | 6.38 | -5.34% | ||
| S3 | 5.37 | -20.33% |
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
Click here for our free guide on how to buy Kinross Gold Corporation Stock.
