Usinas Siderúrgicas de Minas Gerais Stock Forecast
Usinas Siderúrgicas de Minas Gerais stock price ended at R$7.54 on Friday, after losing 0.92%.
(Updated on Jun 21, 2024)
The Usinas Siderúrgicas de Minas Gerais stock price fell by -0.92% on the last day (Friday, 21st Jun 2024) from R$7.61 to R$7.54. During the last trading day the stock fluctuated 1.88% from a day low at R$7.46 to a day high of R$7.60. The price has risen in 6 of the last 10 days and is up by 5.01% over the past 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 -8 million shares and in total, 8 million shares were bought and sold for approximately R$63.31 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -31.21% during the next 3 months and, with a 90% probability hold a price between R$4.49 and R$5.55 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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USIM5.SA Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 10, 2024, and so far it has risen 6.95%. 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). 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 a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at R$7.68. On a fall, the stock will find some support from the short-term average at R$7.31. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. 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$7.32 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved R$0.140 between high and low, or 1.88%. For the last week, the stock has had daily average volatility of 3.37%.
Our recommended stop-loss: R$7.11 (-5.74%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 22 days ago.)
Trading Expectations (USIM5.SA) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Usinas Siderúrgicas de Minas Gerais S.A. to open at R$7.53, and during the day (based on 14 day Average True Range), to move between R$7.32 and R$7.76, which gives a possible trading interval of +/-R$0.224 (+/-2.97%) 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 5.95% 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$7.32 (2.92%) than the resistance at R$7.93 (5.17%), 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 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.
Current score: 0.210 Hold/Accumulate Unchanged
Predicted Opening Price for Usinas Siderúrgicas de Minas Gerais S.A. of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| R$7.53 ( 0.0884%) | R$7.54 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for USIM5.SA
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.67 | 1.77% |
| R2 | 7.62 | 1.06% |
| R1 | 7.59 | 0.621% |
| Price | 7.54 | |
| S1 | 7.48 | -0.798% |
| S2 | 7.45 | -1.24% |
| S3 | 7.39 | -1.95% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 9.10 | 20.69% |
| R2 | 8.76 | 16.18% |
| R1 | 7.93 | 5.17% |
| Price | 7.54 | |
| S1 | 7.32 | -2.92% |
| S2 | 7.23 | -4.11% |
| S3 | 7.18 | -4.77% |
USIM5 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 26, 2024 | Apr 26, 2024 | Jun 24, 2024 | R$0.283 | 3.75% |
| 2 | Apr 28, 2023 | Apr 28, 2023 | Apr 28, 2023 | R$0.329 | 4.72% |
| 3 | Apr 29, 2022 | Apr 29, 2022 | Apr 29, 2022 | R$0.629 | 6.03% |
| 4 | Dec 16, 2021 | Dec 16, 2021 | Dec 16, 2021 | R$0.193 | 1.40% |
| 5 | Sep 01, 2021 | Sep 01, 2021 | Sep 01, 2021 | R$1.10 | 7.45% |
FAQ
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