Argo Investments Ltd Fund Forecast
Red day on Friday for Argo Investments Ltd fund after losing 0.116%
(Updated on Jun 28, 2024)
The Argo Investments Ltd fund price fell by -0.116% on the last day (Friday, 28th Jun 2024) from A$8.65 to A$8.64. During the last trading day the fund fluctuated 0.579% from a day low at A$8.64 to a day high of A$8.69. The price has risen in 5 of the last 10 days. Volume has increased on the last day by 200 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 371 thousand shares were bought and sold for approximately A$3.20 million.
The fund is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Argo Investments Ltd fund with a 90% probability to be traded between A$8.50 and A$8.70 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 funds seldom manage to go directly from the bottom of a trend up to the top. Funds turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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ARG.AX Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 0.348%. 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 Argo Investments Ltd fund 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 A$8.65 and A$8.65. 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 rose on falling prices yesterday. This may be an early warning and the fund should be followed more closely.
A buy signal from a double bottom formation was found on Monday, June 17, 2024 and based on theory for this formation the price should go up by 2.35% to A$8.84 within 11 trading days since signal was issued (Tuesday, July 02, 2024).
Support, Risk & Stop-loss for Argo Investments Ltd fund
Argo Investments Ltd finds support from accumulated volume at A$8.63 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the fund tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the fund moved A$0.0500 between high and low, or 0.579%. For the last week the fund has had daily average volatility of 0.743%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ARG.AX) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Argo Investments Ltd to open at A$8.66, and during the day (based on 14 day Average True Range), to move between A$8.58 and A$8.70, which gives a possible trading interval of +/-A$0.0649 (+/-0.75%) up or down from last closing price. If Argo Investments Ltd takes out the full calculated possible swing range there will be an estimated 1.50% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at A$8.63 (0.12%) than the resistance at A$8.67 (0.35%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Argo Investments Ltd fund A Buy?
Argo Investments 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 fund.
Current score: -2.225 Sell Candidate Unchanged
Predicted Opening Price for Argo Investments Ltd of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| A$8.66 ( 0.193%) | A$8.64 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ARG.AX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 8.71 | 0.772% |
| R2 | 8.69 | 0.551% |
| R1 | 8.68 | 0.414% |
| Price | 8.64 | |
| S1 | 8.64 | -0.0282% |
| S2 | 8.63 | -0.165% |
| S3 | 8.61 | -0.386% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 8.72 | 0.93% |
| R2 | 8.70 | 0.694% |
| R1 | 8.67 | 0.347% |
| Price | 8.64 | |
| S1 | 8.63 | -0.116% |
| S2 | 8.62 | -0.231% |
| S3 | 8.61 | -0.347% |
ARG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 16, 2024 | Feb 16, 2024 | Mar 08, 2024 | A$0.165 | 1.85% |
| 2 | Aug 25, 2023 | Aug 25, 2023 | Aug 25, 2023 | A$0.180 | 2.08% |
| 3 | Feb 17, 2023 | Feb 17, 2023 | Feb 17, 2023 | A$0.165 | 1.78% |
| 4 | Aug 26, 2022 | Aug 26, 2022 | Aug 26, 2022 | A$0.170 | 1.82% |
| 5 | Feb 18, 2022 | Feb 18, 2022 | Feb 18, 2022 | A$0.160 | 1.62% |
FAQ
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