Australian Foundation Investment Co Ltd Stock Forecast

Australian Foundation Investment Co Ltd stock downgraded to Sell Candidate
(Updated on Jun 14, 2024)

AFI.NZ Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, June 11, 2024, and so far it has risen 0.130%. Further rise is indicated until a new top pivot has been found. 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 $7.74 and $7.83. A break-up above any of these levels will issue buy signals. 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 Australian Foundation Investment Co Ltd stock

Australian Foundation Investment Co Ltd finds support from accumulated volume at $7.70 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.0100 between high and low, or 0.130%. For the last week the stock has had daily average volatility of 0.364%

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

Trading Expectations (AFI.NZ) For The Upcoming Trading Day Of Monday 17th

For the upcoming trading day on Monday, 17th we expect Australian Foundation Investment Company Limited to open at $7.71, and during the day (based on 14 day Average True Range), to move between $7.66 and $7.76, which gives a possible trading interval of +/-$0.0546 (+/-0.71%) 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 1.42% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $7.70 (0.13%) than the resistance at $7.82 (1.43%), 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 Company Limited stock A Buy?

Australian Foundation Investment Co Ltd 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 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 Hold/Accumulate to a Sell candidate.

Current score: -2.501 Sell Candidate Downgraded

Predicted Opening Price for Australian Foundation Investment Company Limited of Monday, June 17, 2024

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