Anglo American plc Stock Forecast
Anglo American plc stock price ended at $17.04 on Friday, after losing 2.29%.
(Updated on May 03, 2024)
The Anglo American plc stock price fell by -2.29% on the last day (Friday, 3rd May 2024) from $17.44 to $17.04. During the last trading day the stock fluctuated 4.59% from a day low at $16.60 to a day high of $17.36. The price has been going up and down for this period, and there has been a 25.94% gain for the last 2 weeks. Volume has increased on the last day by 199 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 580 thousand shares were bought and sold for approximately $9.89 million.
The stock lies in the upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $17.52 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 42.04% during the next 3 months and, with a 90% probability hold a price between $19.64 and $24.89 at the end of this 3-month period.
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NGLOY 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 $16.72 and $13.69. 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). 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 Thursday, May 02, 2024, and so far it has fallen -2.29%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Anglo American plc stock
On the downside, the stock finds support just below today's level from accumulated volume at $16.05 and $13.67. 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, Anglo American plc finds support just below today's level at $16.05. If this is broken, then the next support from accumulated volume will be at $13.67 and $13.09.
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 $0.762 between high and low, or 4.59%. For the last week, the stock has had daily average volatility of 3.73%.
Our recommended stop-loss: $16.46 (-3.39%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (NGLOY) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Anglo American plc to open at $17.00, and during the day (based on 14 day Average True Range), to move between $16.40 and $17.68, which gives a possible trading interval of +/-$0.636 (+/-3.73%) up or down from last closing price. If Anglo American plc takes out the full calculated possible swing range there will be an estimated 7.46% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $17.23 (1.12%) than the support at $16.05 (5.81%), 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.
Current score: 2.622 Buy Candidate Unchanged
Predicted Opening Price for Anglo American plc of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $17.00 ( 0.239%) | $17.04 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NGLOY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 17.76 | 4.23 % | |
| R2 | 17.47 | 2.52 % | ||
| R1 | 17.29 | 1.47 % | ||
| Current price: | 17.04 | |||
| Support | S1 | 16.71 | -1.95 % | |
| S2 | 16.53 | -3.00 % | ||
| S3 | 16.24 | -4.71 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 17.44 | 2.35 % | ||
| R1 | 17.23 | 1.12 % | ||
| Current price | 17.04 | |||
| Support | S1 | 16.05 | -5.81% | |
| S2 | 13.67 | -19.78% | ||
| S3 | 13.09 | -23.18% |
NGLOY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 24, 2024 | Mar 14, 2024 | May 10, 2024 | $0.180 | 1.06% |
| 2 | Aug 02, 2023 | Aug 17, 2023 | Oct 03, 2023 | $0.259 | 1.98% |
| 3 | Jun 15, 2023 | Mar 16, 2023 | May 05, 2023 | $0.370 | 2.39% |
| 4 | Aug 13, 2022 | Aug 18, 2022 | Sep 30, 2022 | $0.620 | 4.13% |
| 5 | Mar 17, 2022 | Mar 17, 2022 | Mar 17, 2022 | $0.84 | 3.47% |
FAQ
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