Afrimat Limited Stock Forecast
Green day on Tuesday for Afrimat Limited stock after gaining 0.392%
(Updated on May 28, 2024)
The Afrimat Limited stock price gained 0.392% on the last trading day (Tuesday, 28th May 2024), rising from $6,880.00 to $6,907.00. During the last trading day the stock fluctuated 2.02% from a day low at $6,828.00 to a day high of $6,966.00. The price has risen in 8 of the last 10 days and is up by 4.43% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 215 thousand more shares were traded than the day before. In total, 332 thousand shares were bought and sold for approximately $2.29 billion.
The stock lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 18.72% during the next 3 months and, with a 90% probability hold a price between $7,722.69 and $8,364.92 at the end of this 3-month period.
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AFT.JO Signals & Forecast
The Afrimat Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $6,872.00 and $6,529.97. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Monday, May 20, 2024, and so far it has fallen -0.375%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Afrimat Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at $6,425.00 and $6,300.00. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Afrimat Limited finds support just below today's level at $6,425.00. If this is broken, then the next support from accumulated volume will be at $6,300.00 and $5,620.00.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $138.00 (2.02%) between high and low. For the last week, the stock has had daily average volatility of 1.67%.
Our recommended stop-loss: $6,637.45 (-3.90%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 47 days ago.)
Trading Expectations (AFT.JO) For The Upcoming Trading Day Of Thursday 30th
For the upcoming trading day on Thursday, 30th we expect Afrimat Limited to open at $6,900.33, and during the day (based on 14 day Average True Range), to move between $6,734.69 and $7,079.31, which gives a possible trading interval of +/-$172.31 (+/-2.49%) up or down from last closing price. If Afrimat Limited takes out the full calculated possible swing range there will be an estimated 4.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $6,933.00 (0.38%) than the support at $6,425.00 (6.98%), 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 Afrimat Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Afrimat Limited stock to perform well in the short-term.
Current score: 3.528 Buy Candidate Unchanged
Predicted Opening Price for Afrimat Limited of Thursday, May 30, 2024
| Fair opening price May 30, 2024 | Current price |
|---|---|
| $6,900.33 ( 0.0965%) | $6,907.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AFT.JO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7,038.33 | 1.90 % | |
| R2 | 6,985.62 | 1.14 % | ||
| R1 | 6,953.05 | 0.667 % | ||
| Current price: | 6,907.00 | |||
| Support | S1 | 6,847.62 | -0.86 % | |
| S2 | 6,815.05 | -1.33 % | ||
| S3 | 6,762.33 | -2.09 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 6,933.00 | 0.376 % | ||
| Current price | 6,907.00 | |||
| Support | S1 | 6,425.00 | -6.98% | |
| S2 | 6,300.00 | -8.79% | ||
| S3 | 5,620.00 | -18.63% |
AFT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 05, 2024 | Jun 05, 2024 | Jun 10, 2024 | $154.00 | 2.23% |
| 2 | Nov 22, 2023 | Nov 22, 2023 | Nov 22, 2023 | $40.00 | 0.714% |
| 3 | Jun 07, 2023 | Jun 07, 2023 | Jun 07, 2023 | $110.00 | 2.12% |
| 4 | Nov 23, 2022 | Nov 23, 2022 | Nov 23, 2022 | $40.00 | 0.81% |
| 5 | Jun 08, 2022 | Jun 08, 2022 | Jun 08, 2022 | $146.00 | 2.35% |
FAQ
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