Austin Engineering Limited Stock Forecast

Red day on Friday for Austin Engineering Limited stock after losing 0%
(Updated on May 03, 2024)

ANG.AX Signals & Forecast

The Austin Engineering 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 $0.494 and $0.481. 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 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. A sell signal was issued from a pivot top point on Tuesday, April 30, 2024, and so far it has fallen -0.99%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Austin Engineering Limited stock

Austin Engineering Limited finds support from accumulated volume at $0.480 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 $0.0100 between high and low, or 2.04%. For the last week, the stock has had daily average volatility of 2.86%.

Our recommended stop-loss: $0.479 (-4.14%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 3 days ago.)

Trading Expectations (ANG.AX) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Austin Engineering Limited to open at $0.497, and during the day (based on 14 day Average True Range), to move between $0.481 and $0.519, which gives a possible trading interval of +/-$0.0192 (+/-3.84%) up or down from last closing price. If Austin Engineering Limited takes out the full calculated possible swing range there will be an estimated 7.68% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.505 (1.00%) than the support at $0.480 (4.00%), 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 Austin Engineering 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 Austin Engineering Limited stock to perform well in the short-term.

Current score: 2.679 Buy Candidate Unchanged

Predicted Opening Price for Austin Engineering Limited of Monday, May 6, 2024

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