8I Holdings Ltd Fund Forecast

8I Holdings Ltd fund price down 0% on Friday
(Updated on Jun 28, 2024)

8IH.AX Signals & Forecast

The 8I Holdings Ltd fund holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at A$0.0117 and A$0.0110. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Thursday, June 27, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. 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.

Buy

Special Signal Notification

Double Bottom Formation

A buy signal from a double bottom formation was found on Wednesday, June 05, 2024 and based on theory for this formation the price should go up by 54.76% to A$0.0186 within 7 trading days since signal was issued (Monday, June 17, 2024).

Support, Risk & Stop-loss for 8I Holdings Ltd fund

On the downside, the fund finds support just below today's level from accumulated volume at A$0.0110 and A$0.0100. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at A$0.0100 may give a huge drop in the fund price.

In general the fund 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 fund During the last day, the fund moved A$0 between high and low, or 0%. For the last week the fund has had daily average volatility of 0%

Our recommended stop-loss: A$0.0115 (-4.00%) (This fund has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (8IH.AX) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect 8I Holdings Ltd to open at A$0.0120, and during the day (based on 14 day Average True Range), to move between A$0.0115 and A$0.0125, which gives a possible trading interval of +/-A$0.0005 (+/-4.08%) up or down from last closing price. If 8I Holdings Ltd takes out the full calculated possible swing range there will be an estimated 8.16% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ A$0.0110, some A$0.0010 (8.33%) from the current price of A$0.0120, our system finds the risk reward attractive.

Is 8I Holdings Ltd fund A Buy?

8I Holdings Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for 8I Holdings Ltd of Monday, July 1, 2024

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