8common Limited Stock Forecast
Red day on Friday for 8common Limited stock after losing 0%
(Updated on May 17, 2024)
No changes to the price of 8common Limited stock on the last trading day (Friday, 17th May 2024). During the last trading day the stock fluctuated 0% from a day low at $0.0310 to a day high of $0.0310. The price has been going up and down for this period, and there has been a 3.33% gain for the last 2 weeks.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -39.35% during the next 3 months and, with a 90% probability hold a price between $0.0144 and $0.0206 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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8CO.AX Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, May 13, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The 8common 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 $0.0311 and $0.0342. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for 8common Limited stock
8common Limited finds support from accumulated volume at $0.0300 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 1.33%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (8CO.AX) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect 8common Limited to open at $0.0310, and during the day (based on 14 day Average True Range), to move between $0.0296 and $0.0324, which gives a possible trading interval of +/-$0.0014 (+/-4.41%) up or down from last closing price. If 8common Limited takes out the full calculated possible swing range there will be an estimated 8.83% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0320 (3.23%) than the support at $0.0300 (3.23%), 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 8common Limited stock A Buy?
8common 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: -2.867 Sell Candidate Unchanged
Predicted Opening Price for 8common Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.0310 ( 0%) | $0.0310 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 8CO.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0310 | . | |
| R2 | 0.0310 | . | ||
| R1 | 0.0310 | . | ||
| Current price: | 0.0310 | |||
| Support | S1 | 0.0310 | . | |
| S2 | 0.0310 | . | ||
| S3 | 0.0310 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0360 | 16.13 % | |
| R2 | 0.0340 | 9.68 % | ||
| R1 | 0.0320 | 3.23 % | ||
| Current price | 0.0310 | |||
| Support | S1 | 0.0300 | -3.23% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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