Akita Drilling Ltd. Stock Forecast
Akita Drilling Ltd. stock price down 0% on Friday
(Updated on May 17, 2024)
No changes to the price of Akita Drilling Ltd. stock on the last trading day (Friday, 17th May 2024). During the last trading day the stock fluctuated 0.676% from a day low at $1.48 to a day high of $1.49. The price has fallen in 4 of the last 10 days but is still up by 1.36% over the past 2 weeks.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -7.93% during the next 3 months and, with a 90% probability hold a price between $1.29 and $1.55 at the end of this 3-month period.
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AKT-A.TO Signals & Forecast
There are mixed signals in the stock today. The Akita Drilling 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 $1.50 and $1.51. A break-up above any of these levels will issue buy signals. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 2.76%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Akita Drilling Ltd. stock
Akita Drilling Ltd. finds support from accumulated volume at $1.48 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 0.676%. For the last week the stock has had daily average volatility of 2.88%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AKT-A.TO) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Akita Drilling Ltd. to open at $1.49, and during the day (based on 14 day Average True Range), to move between $1.44 and $1.54, which gives a possible trading interval of +/-$0.0470 (+/-3.16%) up or down from last closing price. If Akita Drilling Ltd. takes out the full calculated possible swing range there will be an estimated 6.31% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.48 (0.67%) than the resistance at $1.51 (1.34%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Akita Drilling Ltd. stock A Buy?
Akita Drilling Ltd. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.115 Sell Candidate Unchanged
Predicted Opening Price for Akita Drilling Ltd. of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| $1.49 ( 0.224%) | $1.49 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AKT-A.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.50 | 0.447 % | |
| R2 | 1.49 | 0.191 % | ||
| R1 | 1.49 | 0.0327 % | ||
| Current price: | 1.49 | |||
| Support | S1 | 1.48 | -0.480 % | |
| S2 | 1.48 | -0.638 % | ||
| S3 | 1.48 | -0.89 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.79 | 20.13 % | |
| R2 | 1.58 | 6.04 % | ||
| R1 | 1.51 | 1.34 % | ||
| Current price | 1.49 | |||
| Support | S1 | 1.48 | -0.671% | |
| S2 | 1.46 | -2.01% | ||
| S3 | 1.45 | -2.68% |
AKT-A Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 18, 2019 | Jun 18, 2019 | Jun 18, 2019 | $0.0850 | 3.15% |
| 2 | Mar 14, 2019 | Mar 14, 2019 | Mar 14, 2019 | $0.0850 | 2.30% |
| 3 | Dec 13, 2018 | Dec 13, 2018 | Dec 13, 2018 | $0.0850 | 2.12% |
| 4 | Sep 14, 2018 | Sep 14, 2018 | Sep 14, 2018 | $0.0850 | 1.61% |
| 5 | Jun 15, 2018 | Jun 15, 2018 | Jun 15, 2018 | $0.0850 | 1.48% |
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