Sandfire Resources NL Stock Forecast
Sandfire Resources NL stock price ended at $9.79 on Thursday, after gaining 0.102%.
(Updated on May 09, 2024)
The Sandfire Resources NL stock price gained 0.102% on the last trading day (Thursday, 9th May 2024), rising from $9.78 to $9.79. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 3.27% from a day low at $9.48 to a day high of $9.79. The price has risen in 8 of the last 10 days and is up by 6.76% 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, 401 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $18.30 million.
The stock lies in the middle of a 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 37.74% during the next 3 months and, with a 90% probability hold a price between $12.96 and $13.67 at the end of this 3-month period.
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SFR.AX Signals & Forecast
Mostly positive signals in the chart today. The Sandfire Resources NL 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 $9.56 and $9.07. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 11, 2024, and so far it has risen 28.82%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Sandfire Resources NL stock
On the downside, the stock finds support just below today's level from accumulated volume at $9.17 and $9.07. 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, Sandfire Resources NL finds support just below today's level at $9.17. If this is broken, then the next support from accumulated volume will be at $9.07 and $9.00.
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 $0.310 between high and low, or 3.27%. For the last week, the stock has had daily average volatility of 2.35%.
Since the Sandfire Resources NL has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: $9.44 (-3.54%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 40 days ago.)
Trading Expectations (SFR.AX) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Sandfire Resources NL to open at $9.69, and during the day (based on 14 day Average True Range), to move between $9.53 and $10.05, which gives a possible trading interval of +/-$0.263 (+/-2.69%) up or down from last closing price. If Sandfire Resources NL takes out the full calculated possible swing range there will be an estimated 5.38% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $9.17, some $0.620 (6.33%) from the current price of $9.79, our system finds the risk reward attractive.
Is Sandfire Resources NL stock A Buy?
Sandfire Resources NL holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 5.307 Strong Buy Candidate Unchanged
Predicted Opening Price for Sandfire Resources NL of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| $9.69 ( 1.06%) | $9.79 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SFR.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.00 | 2.11 % | |
| R2 | 9.88 | 0.90 % | ||
| R1 | 9.81 | 0.154 % | ||
| Current price: | 9.79 | |||
| Support | S1 | 9.57 | -2.27 % | |
| S2 | 9.50 | -3.01 % | ||
| S3 | 9.38 | -4.22 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 9.79 | |||
| Support | S1 | 9.17 | -6.33% | |
| S2 | 9.07 | -7.35% | ||
| S3 | 9.00 | -8.07% |
SFR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 15, 2022 | Mar 15, 2022 | Mar 15, 2022 | $0.0297 | 0.568% |
| 2 | Sep 06, 2021 | Sep 06, 2021 | Sep 06, 2021 | $0.240 | 3.60% |
| 3 | Mar 02, 2021 | Mar 02, 2021 | Mar 02, 2021 | $0.0739 | 1.22% |
| 4 | Sep 14, 2020 | Sep 14, 2020 | Sep 14, 2020 | $0.129 | 2.77% |
| 5 | Feb 20, 2020 | Feb 25, 2020 | Mar 11, 2020 | $0.0462 | 1.29% |
FAQ
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