Lundin Gold Inc. Stock Forecast

Green day on Monday for Lundin Gold Inc. stock after gaining 0.91%
(Updated on May 27, 2024)

LUG.ST Signals & Forecast

The Lundin Gold Inc. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately kr157.86. On a fall, the stock will find some support from the long-term average at approximately kr153.05. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. 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, May 20, 2024, and so far it has fallen -4.18%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Lundin Gold Inc. stock

Lundin Gold Inc. finds support from accumulated volume at kr154.00 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 kr2.80 between high and low, or 1.80%. For the last week, the stock has had daily average volatility of 2.24%.

Our recommended stop-loss: kr150.01 (-3.72%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 15 days ago.)

Trading Expectations (LUG.ST) For The Upcoming Trading Day Of Tuesday 28th

For the upcoming trading day on Tuesday, 28th we expect Lundin Gold Inc. to open at kr156.33, and during the day (based on 14 day Average True Range), to move between kr151.18 and kr160.42, which gives a possible trading interval of +/-kr4.62 (+/-2.96%) up or down from last closing price. If Lundin Gold Inc. takes out the full calculated possible swing range there will be an estimated 5.93% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at kr154.00 (1.16%) than the resistance at kr159.40 (2.31%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Lundin Gold Inc. 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 Lundin Gold Inc. stock to perform well in the short-term.

Current score: 1.133 Buy Candidate Unchanged

Predicted Opening Price for Lundin Gold Inc. of Tuesday, May 28, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.