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 17, 2024)

88E.AX Signals & Forecast

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The 88 Energy Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.0033 and $0.0045. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 14, 2024, and so far it has fallen -25.00%. Further fall is indicated until a new bottom pivot has been found.

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 20th

For the upcoming trading day on Monday, 20th we expect 88 Energy Limited to open at $0.0033, and during the day (based on 14 day Average True Range), to move between $0.0021 and $0.0039, which gives a possible trading interval of +/-$0.0009 (+/-30.90%) up or down from last closing price. If 88 Energy Limited takes out the full calculated possible swing range there will be an estimated 61.80% 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 is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

Current score: -5.519 Strong Sell Candidate Unchanged

Predicted Opening Price for 88 Energy Limited of Monday, May 20, 2024

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