Lundin Mining Corporation Stock Forecast
Lundin Mining Corporation stock price ended at kr128.40 on Friday, after gaining 1.82%.
(Updated on May 10, 2024)
The Lundin Mining Corporation stock price gained 1.82% on the last trading day (Friday, 10th May 2024), rising from kr126.10 to kr128.40. 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 2.04% from a day low at kr127.70 to a day high of kr130.30. The price has risen in 8 of the last 10 days and is up by 5.25% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 133 thousand more shares were traded than the day before. In total, 264 thousand shares were bought and sold for approximately kr33.84 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 69.37% during the next 3 months and, with a 90% probability hold a price between kr207.68 and kr230.65 at the end of this 3-month period.
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LUMI.ST Signals & Forecast
The Lundin Mining 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 kr124.56 and kr118.79. 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 Tuesday, April 30, 2024, and so far it has fallen -1.68%. 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 Lundin Mining Corporation stock
Lundin Mining Corporation finds support from accumulated volume at kr126.00 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 kr2.60 between high and low, or 2.04%. For the last week, the stock has had daily average volatility of 2.57%.
Our recommended stop-loss: kr122.68 (-4.45%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (LUMI.ST) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Lundin Mining Corporation to open at kr128.80, and during the day (based on 14 day Average True Range), to move between kr123.80 and kr133.00, which gives a possible trading interval of +/-kr4.60 (+/-3.58%) up or down from last closing price. If Lundin Mining Corporation takes out the full calculated possible swing range there will be an estimated 7.16% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr129.40 (0.78%) than the support at kr126.00 (1.87%), 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 Lundin Mining 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 Lundin Mining Corporation stock to perform well in the short-term.
Current score: 4.070 Buy Candidate Unchanged
Predicted Opening Price for Lundin Mining Corporation of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| kr128.80 ( 0.312%) | kr128.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LUMI.ST
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 131.40 | 2.34 % | |
| R2 | 130.41 | 1.56 % | ||
| R1 | 129.79 | 1.09 % | ||
| Current price: | 128.40 | |||
| Support | S1 | 127.81 | -0.462 % | |
| S2 | 127.19 | -0.94 % | ||
| S3 | 126.20 | -1.71 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 130.60 | 1.71 % | ||
| R1 | 129.40 | 0.779 % | ||
| Current price | 128.40 | |||
| Support | S1 | 126.00 | -1.87% | |
| S2 | 103.40 | -19.47% | ||
| S3 | 97.85 | -23.79% |
LUMI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 31, 2024 | May 31, 2024 | Jun 19, 2024 | kr0.718 | 0.560% |
| 2 | Mar 21, 2024 | Mar 21, 2024 | Apr 10, 2024 | kr0.691 | 0.548% |
| 3 | Nov 30, 2023 | Nov 30, 2023 | Nov 30, 2023 | kr0 | 0% |
| 4 | Aug 31, 2023 | Aug 31, 2023 | Aug 31, 2023 | kr0.0900 | 0.108% |
| 5 | Jun 01, 2023 | Jun 01, 2023 | Jun 01, 2023 | kr0.0900 | 0.115% |
FAQ
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