Buenaventura Mining Company Inc Stock Forecast

Stronger technical forecast for Buenaventura Mining Company Inc stock price after Friday trading.
(Updated on Apr 26, 2024)

BVN Signals & Forecast

Mostly positive signals in the chart today. The Buenaventura Mining Company Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $16.23 and $16.38. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 01, 2024, and so far it has risen 12.93%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

Support, Risk & Stop-loss for Buenaventura Mining Company Inc stock

On the downside, the stock finds support just below today's level from accumulated volume at $16.01 and $15.88. 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, Buenaventura Mining Company Inc finds support just below today's level at $16.01. If this is broken, then the next support from accumulated volume will be at $15.88 and $15.68.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.475 (2.81%) between high and low. For the last week, the stock has had daily average volatility of 4.50%.

Our recommended stop-loss: $16.54 (-4.84%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 19 days ago.)

Trading Expectations (BVN) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect Buenaventura Mining Company Inc to open at $17.24, and during the day (based on 14 day Average True Range), to move between $16.70 and $18.06, which gives a possible trading interval of +/-$0.677 (+/-3.90%) up or down from last closing price. If Buenaventura Mining Company Inc takes out the full calculated possible swing range there will be an estimated 7.79% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $17.43 (0.29%) than the support at $16.01 (7.88%), 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 Buenaventura Mining Company Inc stock A Buy?

Buenaventura Mining Company Inc holds several positive signals and is within a weak 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

Current score: 5.734 Strong Buy Candidate Upgraded

Predicted Opening Price for Buenaventura Mining Company Inc of Monday, April 29, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.