Lundin Mining Corporation Stock Forecast
Green day on Friday for Lundin Mining Corporation stock after gaining 4.04%
(Updated on Apr 26, 2024)
The Lundin Mining Corporation stock price gained 4.04% on the last trading day (Friday, 26th Apr 2024), rising from $15.60 to $16.23. It has now gained 3 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 3.95% from a day low at $15.70 to a day high of $16.32. The price has been going up and down for this period, and there has been a 3.91% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 802 thousand more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately $68.01 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 54.10% during the next 3 months and, with a 90% probability hold a price between $22.38 and $27.40 at the end of this 3-month period.
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LUN.TO 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 $15.73 and $14.41. 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 09, 2024, and so far it has fallen -1.46%. 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
On the downside, the stock finds support just below today's level from accumulated volume at $13.58 and $13.23. 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, Lundin Mining Corporation finds support just below today's level at $13.58. If this is broken, then the next support from accumulated volume will be at $13.23 and $12.94.
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 $0.620 between high and low, or 3.95%. For the last week, the stock has had daily average volatility of 3.22%.
Our recommended stop-loss: $15.55 (-4.16%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (LUN.TO) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Lundin Mining Corporation to open at $16.08, and during the day (based on 14 day Average True Range), to move between $15.68 and $16.78, which gives a possible trading interval of +/-$0.548 (+/-3.38%) up or down from last closing price. If Lundin Mining Corporation takes out the full calculated possible swing range there will be an estimated 6.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $16.47 (1.48%) than the support at $13.58 (16.33%), 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.
Earnings coming up
Lundin Mining Corporation will release earnings BMO on Wednesday, May 01, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.110. We will update the financials statements for Lundin Mining Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.82% in the first trading day after earnings release.
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: 3.683 Buy Candidate Unchanged
Predicted Opening Price for Lundin Mining Corporation of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $16.08 ( 0.90%) | $16.23 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LUN.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.70 | 2.92 % | |
| R2 | 16.47 | 1.46 % | ||
| R1 | 16.32 | 0.556 % | ||
| Current price: | 16.23 | |||
| Support | S1 | 15.85 | -2.36 % | |
| S2 | 15.70 | -3.26 % | ||
| S3 | 15.46 | -4.72 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 16.47 | 1.48 % | ||
| Current price | 16.23 | |||
| Support | S1 | 13.58 | -16.33% | |
| S2 | 13.23 | -18.48% | ||
| S3 | 12.94 | -20.27% |
LUN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 21, 2024 | Mar 21, 2024 | Apr 10, 2024 | $0.0900 | 0.567% |
| 2 | Nov 01, 2023 | Nov 30, 2023 | Dec 13, 2023 | $0.0900 | 0.88% |
| 3 | Aug 02, 2023 | Aug 31, 2023 | Sep 13, 2023 | $0.0900 | 0.88% |
| 4 | May 03, 2023 | Jun 01, 2023 | Sep 13, 2023 | $0.0900 | 0.88% |
| 5 | Feb 22, 2023 | Mar 23, 2023 | Apr 12, 2023 | $0.0900 | 0.91% |
FAQ
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