Adacel Technologies Limited Stock Forecast

Adacel Technologies Limited stock downgraded from Sell Candidate to Strong Sell Candidate after Tuesday trading session.
(Updated on Jul 02, 2024)

ADA.AX Signals & Forecast

There are few to no technical positive signals at the moment. The Adacel Technologies 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 $0.568 and $0.627. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, June 12, 2024, and so far it has fallen -20.93%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Adacel Technologies Limited stock

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

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 $0.0050 between high and low, or 0.98%. For the last week the stock has had daily average volatility of 3.33%.

Adacel Technologies Limited is oversold on RSI14 (6). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (ADA.AX) For The Upcoming Trading Day Of Wednesday 3rd

For the upcoming trading day on Wednesday, 3rd we expect Adacel Technologies Limited to open at $0.512, and during the day (based on 14 day Average True Range), to move between $0.493 and $0.527, which gives a possible trading interval of +/-$0.0166 (+/-3.26%) up or down from last closing price. If Adacel Technologies Limited takes out the full calculated possible swing range there will be an estimated 6.52% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $0.520, some $0.0100 (1.96%) from the current price of $0.510, our system finds the risk reward not very attractive.

Is Adacel Technologies Limited stock A Buy?

Adacel Technologies Limited holds several negative signals and is within a 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.

Current score: -6.740 Strong Sell Candidate Downgraded

Predicted Opening Price for Adacel Technologies Limited of Wednesday, July 3, 2024

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