Centamin plc Stock Forecast
Centamin plc stock price ended at £125.80 on Wednesday, after gaining 1.21%.
(Updated on Apr 24, 2024)
The Centamin plc stock price gained 1.21% on the last trading day (Wednesday, 24th Apr 2024), rising from £124.30 to £125.80. During the last trading day the stock fluctuated 1.99% from a day low at £123.54 to a day high of £126.00. The price has been going up and down for this period, and there has been a 0.64% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 759 thousand more shares were traded than the day before. In total, 5 million shares were bought and sold for approximately £672.18 million.
The stock lies in the middle of a wide and strong 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 42.75% during the next 3 months and, with a 90% probability hold a price between £163.47 and £193.47 at the end of this 3-month period.
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CEY.L Signals & Forecast
The Centamin plc stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately £127.09. On a fall, the stock will find some support from the long-term average at approximately £115.05. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Volume is rising along with the price. This is considered to be a good technical signal. 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 Friday, April 12, 2024, and so far it has fallen -3.45%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Centamin plc stock
On the downside, the stock finds support just below today's level from accumulated volume at £110.00 and £106.50. 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, Centamin plc finds support just below today's level at £110.00. If this is broken, then the next support from accumulated volume will be at £106.50 and £106.00.
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 £2.46 between high and low, or 1.99%. For the last week, the stock has had daily average volatility of 3.18%.
Our recommended stop-loss: £120.10 (-4.53%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (CEY.L) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Centamin plc to open at £125.11, and during the day (based on 14 day Average True Range), to move between £122.13 and £129.47, which gives a possible trading interval of +/-£3.67 (+/-2.92%) up or down from last closing price. If Centamin plc takes out the full calculated possible swing range there will be an estimated 5.83% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £127.90 (1.67%) than the support at £110.00 (12.56%), 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 Centamin plc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Centamin plc stock to perform well in the short-term.
Current score: 2.018 Buy Candidate Unchanged
Predicted Opening Price for Centamin plc of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| £125.11 ( 0.545%) | £125.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CEY.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 127.57 | 1.41 % | |
| R2 | 126.63 | 0.662 % | ||
| R1 | 126.05 | 0.201 % | ||
| Current price: | 125.80 | |||
| Support | S1 | 124.18 | -1.29 % | |
| S2 | 123.60 | -1.75 % | ||
| S3 | 122.66 | -2.50 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 128.20 | 1.91 % | |
| R2 | 128.10 | 1.83 % | ||
| R1 | 127.90 | 1.67 % | ||
| Current price | 125.80 | |||
| Support | S1 | 110.00 | -12.56% | |
| S2 | 106.50 | -15.34% | ||
| S3 | 106.00 | -15.74% |
CEY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 30, 2024 | May 30, 2024 | Jun 19, 2024 | £1.58 | 1.26% |
| 2 | Jun 01, 2023 | Jun 01, 2023 | Jun 01, 2023 | £2.01 | 1.98% |
| 3 | Aug 04, 2022 | Sep 01, 2022 | Oct 07, 2022 | £2.18 | 2.43% |
| 4 | Mar 16, 2022 | May 19, 2022 | Jun 10, 2022 | £3.98 | 4.81% |
| 5 | Aug 05, 2021 | Sep 02, 2021 | Sep 30, 2021 | £4.00 | 4.18% |
FAQ
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