Kenmare Resources Plc Stock Forecast
Green day on Friday for Kenmare Resources Plc
(Updated on Apr 26, 2024)
The Kenmare Resources Plc stock price gained 0.91% on the last trading day (Friday, 26th Apr 2024), rising from £330.00 to £333.00. During the last trading day the stock fluctuated 1.66% from a day low at £331.50 to a day high of £337.00. The price has fallen in 5 of the last 10 days and is down by -1.62% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 29 thousand more shares were traded than the day before. In total, 82 thousand shares were bought and sold for approximately £27.24 million.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 11.83% during the next 3 months and, with a 90% probability hold a price between £350.58 and £418.16 at the end of this 3-month period.
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KMR.L Signals & Forecast
The Kenmare Resources Plc 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 £332.43 and £324.67. A breakdown below any of these levels will issue sell signals. 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 Monday, April 08, 2024, and so far it has fallen -8.77%. 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).
Support, Risk & Stop-loss for Kenmare Resources Plc stock
Kenmare Resources Plc finds support from accumulated volume at £322.50 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 £5.50 between high and low, or 1.66%. For the last week, the stock has had daily average volatility of 2.61%.
Kenmare Resources Plc is oversold on RSI14 (19). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: £314.11 (-5.67%) (This stock has medium daily movements and this gives medium risk. Low RSI14 is 19 which reduces the risk some. There is a sell signal from a pivot top found 14 days ago.)
Trading Expectations (KMR.L) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Kenmare Resources Plc to open at £333.83, and during the day (based on 14 day Average True Range), to move between £319.76 and £346.24, which gives a possible trading interval of +/-£13.24 (+/-3.98%) up or down from last closing price. If Kenmare Resources Plc takes out the full calculated possible swing range there will be an estimated 7.95% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £334.00 (0.30%) than the support at £322.50 (3.15%), 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 Kenmare Resources Plc 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 Kenmare Resources Plc stock to perform well in the short-term.
Current score: 3.415 Buy Candidate Unchanged
Predicted Opening Price for Kenmare Resources Plc of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| £333.83 ( 0.250%) | £333.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KMR.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 339.33 | 1.90 % | |
| R2 | 337.23 | 1.27 % | ||
| R1 | 335.93 | 0.88 % | ||
| Current price: | 333.00 | |||
| Support | S1 | 331.73 | -0.381 % | |
| S2 | 330.43 | -0.770 % | ||
| S3 | 328.33 | -1.40 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 361.50 | 8.56 % | |
| R2 | 338.50 | 1.65 % | ||
| R1 | 334.00 | 0.300 % | ||
| Current price | 333.00 | |||
| Support | S1 | 322.50 | -3.15% | |
| S2 | 305.50 | -8.26% | ||
| S3 | 301.50 | -9.46% |
KMR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 11, 2024 | Apr 11, 2024 | May 17, 2024 | £0.303 | 0.0911% |
| 2 | Apr 13, 2023 | Apr 13, 2023 | Apr 13, 2023 | £43.33 | 9.12% |
| 3 | Aug 17, 2022 | Sep 22, 2022 | Oct 21, 2022 | £10.98 | 2.59% |
| 4 | Mar 23, 2022 | Apr 28, 2022 | Jun 01, 2022 | £25.42 | 5.25% |
| 5 | Aug 18, 2021 | Sep 23, 2021 | Oct 22, 2021 | £7.29 | 1.65% |
FAQ
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