Kumba Iron Ore Limited Stock Forecast
Red day on Friday for Kumba Iron Ore Limited stock after losing 0.514%
(Updated on Jun 28, 2024)
The Kumba Iron Ore Limited stock price fell by -0.514% on the last day (Friday, 28th Jun 2024) from $44,190.00 to $43,963.00. During the last trading day the stock fluctuated 1.98% from a day low at $43,963.00 to a day high of $44,834.00. The price has been going up and down for this period, and there has been a -0.39% loss for the last 2 weeks. Volume has increased on the last day by 412 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 620 thousand shares were bought and sold for approximately $27.25 billion.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $43,337.07 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -3.05% during the next 3 months and, with a 90% probability hold a price between $42,015.22 and $52,465.95 at the end of this 3-month period.
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KIO.JO Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, June 26, 2024, and so far it has risen 0.687%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Kumba Iron Ore Limited 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 $45,076.71 and $48,648.97. A break-up above any of these levels will issue buy signals. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
A buy signal from a double bottom formation was found on Wednesday, June 26, 2024 and based on theory for this formation the price should go up by 16.06% to $51,024.44 within 9 trading days since signal was issued (Tuesday, July 09, 2024).
Support, Risk & Stop-loss for Kumba Iron Ore Limited stock
Kumba Iron Ore Limited finds support from accumulated volume at $43,944.00 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 $871.00 between high and low, or 1.98%. For the last week, the stock has had daily average volatility of 3.90%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (KIO.JO) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Kumba Iron Ore Limited to open at $44,253.33, and during the day (based on 14 day Average True Range), to move between $41,986.12 and $45,939.88, which gives a possible trading interval of +/-$1,976.88 (+/-4.50%) up or down from last closing price. If Kumba Iron Ore Limited takes out the full calculated possible swing range there will be an estimated 8.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $43,944.00 (0.04%) than the resistance at $45,500.00 (3.50%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Kumba Iron Ore Limited stock A Buy?
Kumba Iron Ore Limited holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.790 Sell Candidate Unchanged
Predicted Opening Price for Kumba Iron Ore Limited of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $44,253.33 ( 0.660%) | $43,963.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KIO.JO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 45,124.33 | 2.64% |
| R2 | 44,791.61 | 1.88% |
| R1 | 44,586.06 | 1.42% |
| Price | 43,963.00 | |
| S1 | 43,920.61 | -0.0964% |
| S2 | 43,715.06 | -0.564% |
| S3 | 43,382.33 | -1.32% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 54,826.00 | 24.71% |
| R2 | 48,000.00 | 9.18% |
| R1 | 45,500.00 | 3.50% |
| Price | 43,963.00 | |
| S1 | 43,944.00 | -0.0432% |
| S2 | 43,668.00 | -0.671% |
| S3 | 43,663.00 | -0.682% |
KIO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 13, 2024 | Mar 13, 2024 | Mar 18, 2024 | $2,420.00 | 5.53% |
| 2 | Aug 16, 2023 | Aug 16, 2023 | Aug 16, 2023 | $2,260.00 | 5.64% |
| 3 | Mar 15, 2023 | Mar 15, 2023 | Mar 15, 2023 | $1,630.00 | 3.71% |
| 4 | Aug 17, 2022 | Aug 17, 2022 | Aug 17, 2022 | $2,870.00 | 6.62% |
| 5 | Mar 16, 2022 | Mar 16, 2022 | Mar 16, 2022 | $3,050.00 | 5.21% |
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