Allied Farmers Limited Stock Forecast
Allied Farmers Limited stock price down 0% on Friday
(Updated on Jun 21, 2024)
No changes to the price of Allied Farmers Limited stock on the last trading day (Friday, 21st Jun 2024). During the last trading day the stock fluctuated 0% from a day low at $0.740 to a day high of $0.740. The price has been going up and down for this period, and there has been a -3.9% loss for the last 2 weeks.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Allied Farmers Limited stock with a 90% probability to be traded between $0.726 and $0.81 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 stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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ALF.NZ Signals & Forecast
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 Allied Farmers Limited 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 $0.740 and $0.754. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, June 05, 2024, and so far it has fallen -6.33%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
A sell signal from a double top formation was found on Wednesday, June 05, 2024 and based on theory for this formation the price should fall by -9.01% to $0.673 within 24 trading days since signal was issued (Wednesday, July 10, 2024).
Support, Risk & Stop-loss for Allied Farmers Limited stock
Allied Farmers Limited finds support from accumulated volume at $0.730 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0 between high and low, or 0%. For the last week, the stock has had daily average volatility of 1.08%.
Our recommended stop-loss: $0.704 (-4.89%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (ALF.NZ) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Allied Farmers Limited to open at $0.740, and during the day (based on 14 day Average True Range), to move between $0.730 and $0.750, which gives a possible trading interval of +/-$0.0100 (+/-1.35%) up or down from last closing price. If Allied Farmers Limited takes out the full calculated possible swing range there will be an estimated 2.69% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.750 (1.35%) than the support at $0.730 (1.35%), 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 Allied Farmers Limited stock A Buy?
Allied Farmers Limited 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: -0.634 Hold/Accumulate Unchanged
Predicted Opening Price for Allied Farmers Limited of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $0.740 ( 0.00000000%) | $0.740 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ALF.NZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.740 | 0.00000000% |
| R2 | 0.740 | 0.00000000% |
| R1 | 0.740 | 0.00000000% |
| Price | 0.740 | |
| S1 | 0.740 | 0.00000000% |
| S2 | 0.740 | 0.00000000% |
| S3 | 0.740 | 0.00000000% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.790 | 6.76% |
| R2 | 0.760 | 2.70% |
| R1 | 0.750 | 1.35% |
| Price | 0.740 | |
| S1 | 0.730 | -1.35% |
| S2 | 0.720 | -2.70% |
| S3 | 0.710 | -4.05% |
ALF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 11, 2020 | Dec 11, 2020 | Dec 11, 2020 | $0.0120 | 1.85% |
| 2 | Dec 13, 2019 | Dec 13, 2019 | Dec 13, 2019 | $0.0183 | 3.12% |
| 3 | Dec 13, 2018 | Dec 13, 2018 | Jan 18, 2019 | $0.0183 | 2.86% |
| 4 | Dec 14, 2017 | Dec 14, 2017 | Jan 19, 2018 | $0.0183 | 1.76% |
| 5 | Jun 09, 2008 | Jun 09, 2008 | Jun 09, 2008 | $18.99 | 1.95% |
FAQ
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