Lundin Mining Corporation Stock Forecast
Lundin Mining Corporation stock price ended at $16.06 on Friday, after gaining 0.753%.
(Updated on May 10, 2024)
The Lundin Mining Corporation stock price gained 0.753% on the last trading day (Friday, 10th May 2024), rising from $15.94 to $16.06. During the last trading day the stock fluctuated 2.12% from a day low at $16.06 to a day high of $16.40. The price has risen in 6 of the last 10 days but is still down by -1.05% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 172 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $17.96 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 59.59% during the next 3 months and, with a 90% probability hold a price between $24.99 and $27.81 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 $15.72 and $15.28. 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 29, 2024, and so far it has fallen -2.55%. 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 $15.35 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.340 (2.12%) between high and low. For the last week, the stock has had daily average volatility of 3.23%.
Our recommended stop-loss: $15.34 (-4.50%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (LUN.TO) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Lundin Mining Corporation to open at $16.17, and during the day (based on 14 day Average True Range), to move between $15.51 and $16.61, which gives a possible trading interval of +/-$0.552 (+/-3.44%) up or down from last closing price. If Lundin Mining Corporation takes out the full calculated possible swing range there will be an estimated 6.87% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $16.23 (1.06%) than the support at $15.35 (4.42%), 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: 3.194 Buy Candidate Unchanged
Predicted Opening Price for Lundin Mining Corporation of Monday, May 13, 2024
Fair opening price May 13, 2024 | Current price |
---|---|
$16.17 ( 0.706%) | $16.06 |
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 | 16.51 | 2.82 % | |
R2 | 16.38 | 2.01 % | ||
R1 | 16.30 | 1.51 % | ||
Current price: | 16.06 | |||
Support | S1 | 16.04 | -0.103 % | |
S2 | 15.96 | -0.603 % | ||
S3 | 15.83 | -1.41 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 16.48 | 2.62 % | |
R2 | 16.47 | 2.55 % | ||
R1 | 16.23 | 1.06 % | ||
Current price | 16.06 | |||
Support | S1 | 15.35 | -4.42% | |
S2 | 13.23 | -17.62% | ||
S3 | 12.94 | -19.43% |
LUN Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 31, 2024 | May 31, 2024 | May 31, 2024 | $0 | 0% |
2 | Apr 18, 2024 | Apr 18, 2024 | Apr 18, 2024 | $0.0900 | 0.561% |
3 | Feb 21, 2024 | Mar 21, 2024 | Apr 10, 2024 | $0.0900 | 0.567% |
4 | Nov 01, 2023 | Nov 30, 2023 | Dec 13, 2023 | $0.0900 | 0.88% |
5 | Aug 02, 2023 | Aug 31, 2023 | Sep 13, 2023 | $0.0900 | 0.88% |
FAQ
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