Argosy Property Limited Stock Forecast
Stronger technical forecast for Argosy Property Limited stock price after Monday trading.
(Updated on Apr 22, 2024)
The Argosy Property Limited stock price gained 0.88% on the last trading day (Monday, 22nd Apr 2024), rising from $1.14 to $1.15. During the last trading day the stock fluctuated 2.69% from a day low at $1.12 to a day high of $1.15. The price has risen in 5 of the last 10 days but is still down by -0.87% for this period. Volume fell on the last day by -38 thousand shares and in total, 285 thousand shares were bought and sold for approximately $326.11 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Argosy Property Limited stock with a 90% probability to be traded between $1.10 and $1.17 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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ARG.NZ Signals & Forecast
The Argosy Property 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 $1.14 and $1.13. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 1.33%. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
A buy signal from a double bottom formation was found on Thursday, March 14, 2024 with a target of $1.13. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for Argosy Property Limited stock
Argosy Property Limited finds support from accumulated volume at $1.14 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 $0.0300 between high and low, or 2.69%. For the last week the stock has had daily average volatility of 1.78%
Our recommended stop-loss: $1.09 (-4.96%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (ARG.NZ) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Argosy Property Limited to open at $1.14, and during the day (based on 14 day Average True Range), to move between $1.12 and $1.17, which gives a possible trading interval of +/-$0.0242 (+/-2.12%) up or down from last closing price. If Argosy Property Limited takes out the full calculated possible swing range there will be an estimated 4.24% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.15 (0.44%) than the support at $1.14 (0.87%), 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 Argosy Property Limited stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Argosy Property Limited stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.827 Buy Candidate Upgraded
Predicted Opening Price for Argosy Property Limited of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $1.14 ( 0.87%) | $1.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ARG.NZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.17 | 1.75 % | |
| R2 | 1.15 | 0.746 % | ||
| R1 | 1.15 | 0.128 % | ||
| Current price: | 1.15 | |||
| Support | S1 | 1.12 | -1.87 % | |
| S2 | 1.12 | -2.49 % | ||
| S3 | 1.11 | -3.49 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.17 | 2.18 % | |
| R2 | 1.16 | 1.31 % | ||
| R1 | 1.15 | 0.437 % | ||
| Current price | 1.15 | |||
| Support | S1 | 1.14 | -0.87% | |
| S2 | 1.13 | -1.31% | ||
| S3 | 1.11 | -3.06% |
ARG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 05, 2023 | Dec 05, 2023 | Dec 05, 2023 | $0 | 0% |
| 2 | Sep 12, 2023 | Sep 12, 2023 | Sep 12, 2023 | $0.0166 | 1.51% |
| 3 | Jun 06, 2023 | Jun 06, 2023 | Jun 06, 2023 | $0.0166 | 1.53% |
| 4 | Mar 14, 2023 | Mar 14, 2023 | Mar 14, 2023 | $0.0166 | 1.46% |
| 5 | Dec 06, 2022 | Dec 06, 2022 | Dec 06, 2022 | $0.0166 | 1.42% |
FAQ
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