Australian Foundation Investment Co Ltd Stock Forecast

Australian Foundation Investment Co Ltd stock price ended at $7.86 on Thursday, after losing 0%.
(Updated on May 23, 2024)

AFI.NZ Signals & Forecast

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Australian Foundation Investment Co 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 $7.87 and $7.91. 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 09, 2024, and so far it has fallen -1.50%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Australian Foundation Investment Co Ltd stock

Australian Foundation Investment Co Ltd finds support from accumulated volume at $7.83 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.0600 between high and low, or 0.769%. For the last week the stock has had daily average volatility of 0.358%.

Our recommended stop-loss: $7.52 (-4.29%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 11 days ago.)

Trading Expectations (AFI.NZ) For The Upcoming Trading Day Of Friday 24th

For the upcoming trading day on Friday, 24th we expect Australian Foundation Investment Company Limited to open at $7.84, and during the day (based on 14 day Average True Range), to move between $7.81 and $7.91, which gives a possible trading interval of +/-$0.0533 (+/-0.68%) up or down from last closing price. If Australian Foundation Investment Company Limited takes out the full calculated possible swing range there will be an estimated 1.36% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $7.87 (0.13%) than the support at $7.83 (0.38%), 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 Company Limited stock A Buy?

Australian Foundation Investment Co Ltd holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Australian Foundation Investment Company Limited of Friday, May 24, 2024

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