Australian Foundation Investment Co Fund Forecast
Red day on Tuesday for Australian Foundation Investment Co fund after losing 0.140%
(Updated on Jun 25, 2024)
The Australian Foundation Investment Co fund price fell by -0.140% on the last day (Tuesday, 25th Jun 2024) from A$7.15 to A$7.14. During the last trading day the fund fluctuated 0.420% from a day low at A$7.14 to a day high of A$7.17. The price has fallen in 5 of the last 10 days and is down by -0.14% for this period. Volume has increased on the last day by 78 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 486 thousand shares were bought and sold for approximately A$3.47 million.
The fund lies in the middle of a narrow and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the fund is expected to fall -2.01% during the next 3 months and, with a 90% probability hold a price between A$6.88 and A$7.05 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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AFI.AX Signals & Forecast
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. The Australian Foundation Investment Co fund 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$7.17 and A$7.19. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 16, 2024, and so far it has fallen -1.65%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the fund should be followed more closely.
Support, Risk & Stop-loss for Australian Foundation Investment Co fund
Australian Foundation Investment Co finds support from accumulated volume at A$7.13 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the fund tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the fund moved A$0.0300 between high and low, or 0.420%. For the last week the fund has had daily average volatility of 0.447%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AFI.AX) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Australian Foundation Investment Co Ltd-Fund to open at A$7.15, and during the day (based on 14 day Average True Range), to move between A$7.09 and A$7.19, which gives a possible trading interval of +/-A$0.0491 (+/-0.69%) up or down from last closing price. If Australian Foundation Investment Co Ltd-Fund takes out the full calculated possible swing range there will be an estimated 1.37% 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$7.13 (0.14%) than the resistance at A$7.15 (0.14%), 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 Foundation Investment Co Ltd-Fund fund A Buy?
Australian Foundation Investment Co holds several negative signals and is within a narrow and 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 fund.
Current score: -2.659 Sell Candidate Unchanged
Predicted Opening Price for Australian Foundation Investment Co Ltd-Fund of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| A$7.15 ( 0.140%) | A$7.14 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AFI.AX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.18 | 0.560% |
| R2 | 7.17 | 0.400% |
| R1 | 7.16 | 0.301% |
| Price | 7.14 | |
| S1 | 7.14 | -0.0204% |
| S2 | 7.13 | -0.120% |
| S3 | 7.12 | -0.280% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.20 | 0.84% |
| R2 | 7.17 | 0.420% |
| R1 | 7.15 | 0.140% |
| Price | 7.14 | |
| S1 | 7.13 | -0.140% |
| S2 | 7.11 | -0.420% |
| S3 | 0 | - |
AFI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 02, 2024 | Feb 02, 2024 | Feb 26, 2024 | A$0.115 | 1.55% |
| 2 | Aug 11, 2023 | Aug 11, 2023 | Aug 11, 2023 | A$0.140 | 1.99% |
| 3 | Feb 02, 2023 | Feb 02, 2023 | Feb 02, 2023 | A$0.110 | 1.47% |
| 4 | Aug 10, 2022 | Aug 10, 2022 | Aug 10, 2022 | A$0.140 | 1.75% |
| 5 | Feb 09, 2022 | Feb 09, 2022 | Feb 09, 2022 | A$0.100 | 1.20% |
FAQ
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