The a2 Milk Company Limited Stock Forecast

Green day on Friday for The a2 Milk Company Limited stock after gaining 0.160%
(Updated on May 10, 2024)

A2M.AX Signals & Forecast

Mostly positive signals in the chart today. The The a2 Milk Company Limited stock 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 $6.11 and $5.97. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 12.16%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

Support, Risk & Stop-loss for The a2 Milk Company Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at $5.91 and $5.77. 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, The a2 Milk Company Limited finds support just below today's level at $5.91. If this is broken, then the next support from accumulated volume will be at $5.77 and $5.68.

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 $0.0800 between high and low, or 1.29%. For the last week, the stock has had daily average volatility of 1.93%.

Our recommended stop-loss: $6.01 (-4.19%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 79 and this increases the risk substantially. There is a buy signal from a pivot bottom found 17 days ago.)

Trading Expectations (A2M.AX) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect The a2 Milk Company Limited to open at $6.24, and during the day (based on 14 day Average True Range), to move between $6.14 and $6.40, which gives a possible trading interval of +/-$0.130 (+/-2.08%) up or down from last closing price. If The a2 Milk Company Limited takes out the full calculated possible swing range there will be an estimated 4.16% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $5.91, some $0.360 (5.74%) from the current price of $6.27, our system finds the risk reward attractive.

Is The a2 Milk Company Limited stock A Buy?

The a2 Milk Company Limited holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.

Current score: 7.357 Strong Buy Candidate Unchanged

Predicted Opening Price for The a2 Milk Company Limited of Monday, May 13, 2024

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