Usinas Siderúrgicas de Minas Gerais Stock Forecast
Red day on Tuesday for Usinas Siderúrgicas de Minas Gerais stock after losing 0.132%
(Updated on May 07, 2024)
The Usinas Siderúrgicas de Minas Gerais stock price fell by -0.132% on the last day (Tuesday, 7th May 2024) from R$7.55 to R$7.54. During the last trading day the stock fluctuated 1.74% from a day low at R$7.48 to a day high of R$7.61. The price has fallen in 6 of the last 10 days and is down by -9.7% for this period. 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 -400 shares and in total, 591 thousand shares were bought and sold for approximately R$4.45 million.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at R$7.29 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -20.00% during the next 3 months and, with a 90% probability hold a price between R$5.83 and R$7.29 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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USIM3.SA Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 0.80%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Usinas Siderúrgicas de Minas Gerais stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at R$7.55 and R$8.95. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Usinas Siderúrgicas de Minas Gerais stock
Usinas Siderúrgicas de Minas Gerais finds support from accumulated volume at R$7.51 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 R$0.130 between high and low, or 1.74%. For the last week, the stock has had daily average volatility of 1.84%.
Usinas Siderúrgicas de Minas Gerais is oversold on RSI14 (22). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (USIM3.SA) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Usinas Siderúrgicas de Minas Gerais S.A. to open at R$7.54, and during the day (based on 14 day Average True Range), to move between R$7.25 and R$7.83, which gives a possible trading interval of +/-R$0.295 (+/-3.91%) up or down from last closing price. If Usinas Siderúrgicas de Minas Gerais S.A. takes out the full calculated possible swing range there will be an estimated 7.81% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at R$7.51 (0.40%) than the resistance at R$7.66 (1.59%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Usinas Siderúrgicas de Minas Gerais S.A. stock A Buy?
Usinas Siderúrgicas de Minas Gerais holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.542 Sell Candidate Unchanged
Predicted Opening Price for Usinas Siderúrgicas de Minas Gerais S.A. of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| R$7.54 ( 0.0442%) | R$7.54 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for USIM3.SA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.67 | 1.77 % | |
| R2 | 7.62 | 1.11 % | ||
| R1 | 7.59 | 0.703 % | ||
| Current price: | 7.54 | |||
| Support | S1 | 7.49 | -0.614 % | |
| S2 | 7.46 | -1.02 % | ||
| S3 | 7.41 | -1.68 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.35 | 24.01 % | |
| R2 | 8.35 | 10.74 % | ||
| R1 | 7.66 | 1.59 % | ||
| Current price | 7.54 | |||
| Support | S1 | 7.51 | -0.398% | |
| S2 | 7.48 | -0.796% | ||
| S3 | 0 | . |
USIM3 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 26, 2024 | Apr 26, 2024 | Jun 24, 2024 | R$0.257 | 3.41% |
| 2 | Apr 28, 2023 | Apr 28, 2023 | Apr 28, 2023 | R$0.299 | 4.38% |
| 3 | Apr 29, 2022 | Apr 29, 2022 | Apr 29, 2022 | R$0.572 | 5.86% |
| 4 | Dec 16, 2021 | Dec 16, 2021 | Dec 16, 2021 | R$0.175 | 1.35% |
| 5 | Sep 01, 2021 | Sep 01, 2021 | Sep 01, 2021 | R$1.00 | 6.73% |
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