Yancoal Australia Ltd Stock Forecast
Yancoal Australia Ltd stock price ended at $7.02 on Tuesday, after gaining 1.45%.
(Updated on Jul 02, 2024)
The Yancoal Australia Ltd stock price gained 1.45% on the last trading day (Tuesday, 2nd Jul 2024), rising from $6.92 to $7.02. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 3.96% from a day low at $6.82 to a day high of $7.09. The price has risen in 7 of the last 10 days and is up by 16.42% 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, 2 million more shares were traded than the day before. In total, 5 million shares were bought and sold for approximately $32.03 million.
The stock has broken the wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $7.01, a level that may pose a second chance to hit a runner. According to fan-theory $7.85 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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YAL.AX Signals & Forecast
The Yancoal Australia Ltd 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 $6.54 and $6.28. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, June 19, 2024, and so far it has risen 17.00%. 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 Yancoal Australia Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at $6.42 and $6.40. 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, Yancoal Australia Ltd finds support just below today's level at $6.42. If this is broken, then the next support from accumulated volume will be at $6.40 and $5.86.
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 $0.270 between high and low, or 3.96%. For the last week, the stock has had daily average volatility of 3.38%.
The Yancoal Australia Ltd stock is extremely overbought on RSI14 (80). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: $6.71 (-4.38%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 80 and this increases the risk substantially. There is a buy signal from a pivot bottom found 23 days ago.)
Trading Expectations (YAL.AX) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Yancoal Australia Ltd to open at $6.98, and during the day (based on 14 day Average True Range), to move between $6.84 and $7.20, which gives a possible trading interval of +/-$0.179 (+/-2.54%) up or down from last closing price. If Yancoal Australia Ltd takes out the full calculated possible swing range there will be an estimated 5.09% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $6.42, some $0.600 (8.55%) from the current price of $7.02, our system finds the risk reward attractive.
Is Yancoal Australia Ltd stock A Buy?
Yancoal Australia Ltd 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: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Yancoal Australia Ltd of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $6.98 ( 0.617%) | $7.02 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for YAL.AX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.25 | 3.23% |
| R2 | 7.14 | 1.76% |
| R1 | 7.08 | 0.85% |
| Price | 7.02 | |
| S1 | 6.87 | -2.09% |
| S2 | 6.81 | -2.99% |
| S3 | 6.71 | -4.46% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 7.02 | |
| S1 | 6.42 | -8.55% |
| S2 | 6.40 | -8.83% |
| S3 | 5.86 | -16.52% |
YAL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 12, 2024 | Mar 12, 2024 | Apr 30, 2024 | $0.325 | 5.86% |
| 2 | Sep 05, 2023 | Sep 05, 2023 | Sep 20, 2023 | $0.370 | 7.17% |
| 3 | Mar 14, 2023 | Mar 14, 2023 | Mar 14, 2023 | $0.700 | 12.28% |
| 4 | Sep 05, 2022 | Sep 05, 2022 | Sep 05, 2022 | $0.527 | 8.35% |
| 5 | Mar 15, 2022 | Mar 15, 2022 | Mar 15, 2022 | $0.204 | 4.87% |
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