Advantage Oil & Gas Ltd. Stock Forecast
Evaluation of Advantage Oil & Gas Ltd. stock downgraded after the last trading session.
(Updated on Apr 29, 2024)
The Advantage Oil & Gas Ltd. stock price fell by -0.0923% on the last day (Monday, 29th Apr 2024) from $10.84 to $10.83. During the last trading day the stock fluctuated 1.40% from a day low at $10.72 to a day high of $10.87. The price has been going up and down for this period, and there has been a 7.02% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -12 thousand shares and in total, 314 thousand shares were bought and sold for approximately $3.40 million.
The stock lies in the upper part of a strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $10.87 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 18.04% during the next 3 months and, with a 90% probability hold a price between $11.86 and $12.83 at the end of this 3-month period.
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AAV.TO Signals & Forecast
The Advantage Oil & Gas Ltd. 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 $10.61 and $10.16. 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 Friday, April 26, 2024, and so far it has fallen -0.0923%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Advantage Oil & Gas Ltd. stock
Advantage Oil & Gas Ltd. finds support from accumulated volume at $10.35 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.150 between high and low, or 1.40%. For the last week, the stock has had daily average volatility of 2.74%.
Our recommended stop-loss: $10.42 (-3.76%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (AAV.TO) For The Upcoming Trading Day Of Tuesday 30th
For the upcoming trading day on Tuesday, 30th we expect Advantage Oil & Gas Ltd. to open at $10.81, and during the day (based on 14 day Average True Range), to move between $10.53 and $11.13, which gives a possible trading interval of +/-$0.295 (+/-2.73%) up or down from last closing price. If Advantage Oil & Gas Ltd. takes out the full calculated possible swing range there will be an estimated 5.46% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $10.84 (0.09%) than the support at $10.35 (4.43%), 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 Advantage Oil & Gas Ltd. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Advantage Oil & Gas Ltd. stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 1.728 Buy Candidate Downgraded
Predicted Opening Price for Advantage Oil & Gas Ltd. of Tuesday, April 30, 2024
| Fair opening price April 30, 2024 | Current price |
|---|---|
| $10.81 ( 0.215%) | $10.83 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AAV.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.96 | 1.17 % | |
| R2 | 10.90 | 0.641 % | ||
| R1 | 10.86 | 0.314 % | ||
| Current price: | 10.83 | |||
| Support | S1 | 10.75 | -0.745 % | |
| S2 | 10.71 | -1.07 % | ||
| S3 | 10.66 | -1.60 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 10.84 | 0.0923 % | ||
| Current price | 10.83 | |||
| Support | S1 | 10.35 | -4.43% | |
| S2 | 10.34 | -4.52% | ||
| S3 | 10.13 | -6.46% |
AAV Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 12, 2009 | Feb 25, 2009 | Mar 16, 2009 | $0.0400 | 0% |
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