Australian Foundation Investment Co Fund Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Australian Foundation Investment Co fund price up 0.140% on Friday
(Updated on Jun 28, 2024)
The Australian Foundation Investment Co fund price gained 0.140% on the last trading day (Friday, 28th Jun 2024), rising from A$7.14 to A$7.15. During the last trading day the fund fluctuated 0.702% from a day low at A$7.12 to a day high of A$7.17. The price has fallen in 4 of the last 10 days and is down by -0.14% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 241 thousand more shares were traded than the day before. In total, 511 thousand shares were bought and sold for approximately A$3.65 million.
The fund is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Australian Foundation Investment Co fund with a 90% probability to be traded between A$6.89 and A$7.06 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and funds seldom manage to go directly from the bottom of a trend up to the top. Funds turning up in the middle of a horizontal trend are therefore considered to be potential runners. 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). Volume is rising along with the price. This is considered to be a good technical signal. 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$7.15 and A$7.18. 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 -1.52%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Australian Foundation Investment Co fund
Australian Foundation Investment Co finds support from accumulated volume at A$7.14 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$0.0500 between high and low, or 0.702%. For the last week the fund has had daily average volatility of 0.477%.
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 Monday 1st
For the upcoming trading day on Monday, 1st 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$7.10 and A$7.20, which gives a possible trading interval of +/-A$0.0472 (+/-0.66%) 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 1.32% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at A$7.16 (0.14%) than the support at A$7.14 (0.14%), 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 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: -2.629 Sell Candidate Unchanged
Predicted Opening Price for Australian Foundation Investment Co Ltd-Fund of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| A$7.15 ( 0.0466%) | A$7.15 |
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 | 7.20 | 0.653% |
| R2 | 7.18 | 0.386% |
| R1 | 7.17 | 0.221% |
| Price | 7.15 | |
| S1 | 7.13 | -0.314% |
| S2 | 7.12 | -0.479% |
| S3 | 7.10 | -0.746% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.20 | 0.699% |
| R2 | 7.17 | 0.280% |
| R1 | 7.16 | 0.140% |
| Price | 7.15 | |
| S1 | 7.14 | -0.140% |
| S2 | 7.13 | -0.280% |
| S3 | 7.11 | -0.559% |
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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