Australian Bauxite Ltd Stock Forecast
Red day on Friday for Australian Bauxite Ltd
(Updated on Jun 28, 2024)
No changes to the price of Australian Bauxite Ltd stock on the last trading day (Friday, 28th Jun 2024). During the last trading day the stock fluctuated 2.17% from a day low at A$0.0460 to a day high of A$0.0470. The price has been going up and down for this period, and there has been a -4.08% loss 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 -28.52% during the next 3 months and, with a 90% probability hold a price between A$0.0288 and A$0.0360 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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ABX.AX Signals & Forecast
There are mixed signals in the stock today. The Australian Bauxite Ltd 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 A$0.0473 and A$0.0514. A break-up above any of these levels will issue buy signals. 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. A buy signal was issued from a pivot bottom point on Wednesday, June 26, 2024, and so far it has risen 14.63%. 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).
Support, Risk & Stop-loss for Australian Bauxite Ltd stock
Australian Bauxite Ltd finds support from accumulated volume at A$0.0450 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved A$0.0010 between high and low, or 2.17%. For the last week the stock has had daily average volatility of 12.00%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ABX.AX) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Australian Bauxite Ltd to open at A$0.0467, and during the day (based on 14 day Average True Range), to move between A$0.0439 and A$0.0501, which gives a possible trading interval of +/-A$0.0031 (+/-6.62%) up or down from last closing price. If Australian Bauxite Ltd takes out the full calculated possible swing range there will be an estimated 13.24% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at A$0.0450 (4.26%) than the resistance at A$0.0500 (6.38%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Australian Bauxite Ltd stock A Buy?
Australian Bauxite Ltd holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -3.082 Sell Candidate Unchanged
Predicted Opening Price for Australian Bauxite Ltd of Monday, July 1, 2024
Fair opening price July 1, 2024 | Current price |
---|---|
A$0.0467 ( 0.709%) | A$0.0470 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ABX.AX
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.0477 | 1.42% |
R2 | 0.0473 | 0.606% |
R1 | 0.0470 | 0.104% |
Price | 0.0470 | |
S1 | 0.0463 | -1.52% |
S2 | 0.0460 | -2.02% |
S3 | 0.0457 | -2.84% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.0560 | 19.15% |
R2 | 0.0510 | 8.51% |
R1 | 0.0500 | 6.38% |
Price | 0.0470 | |
S1 | 0.0450 | -4.26% |
S2 | 0.0410 | -12.77% |
S3 | 0 | - |
FAQ
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