88 Energy Limited Stock Forecast

Volatile ride for 88 Energy Limited stock price on Friday moving between $0.0030 and $0.0040
(Updated on May 03, 2024)

88E.AX Signals & Forecast

There are mixed signals in the stock today. The 88 Energy Limited 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 $0.0052. On a fall, the stock will find some support from the short-term average at $0.0034. 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. A sell signal was issued from a pivot top point on Tuesday, April 30, 2024, and so far it has fallen 0%. 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). 88 Energy Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for 88 Energy Limited stock

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0010 between high and low, or 33.33%. For the last week, the stock has had daily average volatility of 26.67%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (88E.AX) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect 88 Energy Limited to open at $0.0037, and during the day (based on 14 day Average True Range), to move between $0.0030 and $0.0050, which gives a possible trading interval of +/-$0.0010 (+/-24.59%) up or down from last closing price. If 88 Energy Limited takes out the full calculated possible swing range there will be an estimated 49.18% move between the lowest and the highest trading price during the day.

Is 88 Energy Limited stock A Buy?

88 Energy Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -5.610 Strong Sell Candidate Unchanged

Predicted Opening Price for 88 Energy Limited of Monday, May 6, 2024

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