Umicore SA Stock Forecast
Evaluation of Umicore SA stock downgraded after the last trading session.
(Updated on May 09, 2024)
The Umicore SA stock price fell by -1.68% on the last day (Thursday, 9th May 2024) from $5.95 to $5.85. During the last trading day the stock fluctuated 1.39% from a day low at $5.77 to a day high of $5.85. The price has been going up and down for this period, and there has been a 4.28% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -6 thousand shares and in total, 109 thousand shares were bought and sold for approximately $635.83 thousand.
The stock lies in the middle of a wide and weak 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 6.48% during the next 3 months and, with a 90% probability hold a price between $5.81 and $6.40 at the end of this 3-month period.
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UMICY Signals & Forecast
The Umicore SA 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 $5.77 and $5.60. 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 Tuesday, May 07, 2024, and so far it has fallen -2.50%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Umicore SA stock
Umicore SA finds support from accumulated volume at $5.63 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0800 between high and low, or 1.39%. For the last week the stock has had daily average volatility of 2.03%.
Our recommended stop-loss: $5.57 (-4.72%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (UMICY) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Umicore SA to open at $5.82, and during the day (based on 14 day Average True Range), to move between $5.68 and $6.02, which gives a possible trading interval of +/-$0.173 (+/-2.95%) up or down from last closing price. If Umicore SA takes out the full calculated possible swing range there will be an estimated 5.90% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $5.92 (1.15%) than the support at $5.63 (3.76%), 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 Umicore SA stock A Buy?
Umicore SA holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.738 Hold/Accumulate Downgraded
Predicted Opening Price for Umicore SA of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| $5.82 ( 0.456%) | $5.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UMICY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.90 | 0.91 % | |
| R2 | 5.87 | 0.389 % | ||
| R1 | 5.85 | 0.0666 % | ||
| Current price: | 5.85 | |||
| Support | S1 | 5.79 | -0.98 % | |
| S2 | 5.77 | -1.30 % | ||
| S3 | 5.74 | -1.82 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.00 | 2.56 % | |
| R2 | 5.95 | 1.71 % | ||
| R1 | 5.92 | 1.15 % | ||
| Current price | 5.85 | |||
| Support | S1 | 5.63 | -3.76% | |
| S2 | 5.56 | -4.96% | ||
| S3 | 5.54 | -5.30% |
UMICY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 29, 2024 | Apr 29, 2024 | May 17, 2024 | $0.0909 | 1.55% |
| 2 | Jul 29, 2023 | Aug 18, 2023 | Sep 06, 2023 | $0.0690 | 1.07% |
| 3 | Aug 01, 2023 | May 02, 2023 | Sep 06, 2023 | $0.151 | 2.33% |
| 4 | Aug 19, 2022 | Aug 19, 2022 | May 19, 2023 | $0.0640 | 0.83% |
| 5 | May 02, 2022 | May 02, 2022 | May 02, 2022 | $0.148 | 1.52% |
FAQ
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