Anglo American plc Stock Forecast
Anglo American plc stock upgraded from Hold/Accumulate to Buy Candidate after Thursday trading session.
(Updated on May 09, 2024)
The Anglo American plc stock price gained 3.10% on the last trading day (Thursday, 9th May 2024), rising from 30.92€ to 31.88€. During the last trading day the stock fluctuated 3.83% from a day low at 30.78€ to a day high of 31.96€. The price has risen in 7 of the last 10 days and is up by 23.04% 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, 8 thousand more shares were traded than the day before. In total, 21 thousand shares were bought and sold for approximately 678.37€ thousand.
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 51.43% during the next 3 months and, with a 90% probability hold a price between 40.40€ and 50.33€ at the end of this 3-month period.
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NGLB.F Signals & Forecast
The Anglo American 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 31.15€ and 26.17€. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Anglo American plc has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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 -0.125%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Anglo American plc stock
Anglo American plc finds support from accumulated volume at 30.70€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved 1.18€ between high and low, or 3.83%. For the last week, the stock has had daily average volatility of 2.91%.
Our recommended stop-loss: 30.76€ (-3.51%) (This stock has high daily movements and this gives high risk. The RSI14 is 76 and this increases the risk substantially. There is a sell signal from a pivot top found 7 days ago.)
Trading Expectations (NGLB.F) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Anglo American plc to open at 31.54€, and during the day (based on 14 day Average True Range), to move between 30.77€ and 32.99€, which gives a possible trading interval of +/-1.11€ (+/-3.47%) up or down from last closing price. If Anglo American plc takes out the full calculated possible swing range there will be an estimated 6.94% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 31.92€ (0.13%) than the support at 30.70€ (3.70%), 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 Anglo American 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 Anglo American plc stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 4.365 Buy Candidate Upgraded
Predicted Opening Price for Anglo American plc of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| 31.54€ ( 1.07%) | 31.88€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NGLB.F
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 32.72 | 2.63 % | |
| R2 | 32.27 | 1.22 % | ||
| R1 | 31.99 | 0.347 % | ||
| Current price: | 31.88 | |||
| Support | S1 | 31.09 | -2.48 % | |
| S2 | 30.81 | -3.35 % | ||
| S3 | 30.36 | -4.77 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 31.92 | 0.125 % | ||
| Current price | 31.88 | |||
| Support | S1 | 30.70 | -3.70% | |
| S2 | 29.60 | -7.15% | ||
| S3 | 24.84 | -22.08% |
NGLB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 14, 2024 | Mar 14, 2024 | May 03, 2024 | 0.379€ | 0% |
| 2 | Aug 17, 2023 | Aug 17, 2023 | Aug 17, 2023 | 0.550€ | 0% |
| 3 | Mar 16, 2023 | Mar 16, 2023 | Mar 16, 2023 | 0.740€ | 0% |
| 4 | Aug 18, 2022 | Aug 18, 2022 | Aug 18, 2022 | 1.24€ | 0% |
| 5 | Mar 17, 2022 | Mar 17, 2022 | Mar 17, 2022 | 0.500€ | 0% |
FAQ
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