ASA International Group PLC Stock Forecast
ASA International Group PLC stock downgraded to Hold/Accumulate
(Updated on May 09, 2024)
No changes to the price of ASA International Group PLC stock on the last trading day (Thursday, 9th May 2024). During the last trading day the stock fluctuated 0% from a day low at £66.00 to a day high of £66.00. The price has risen in 4 of the last 10 days and is up by 6.45% over the past 2 weeks.
The stock lies in the upper part of a very wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at £66.06 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 5.27% during the next 3 months and, with a 90% probability hold a price between £49.05 and £69.53 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
ASAI.L Signals & Forecast
The ASA International Group PLC 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 £64.57 and £53.23. 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). 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 Wednesday, May 08, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. 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.
Support, Risk & Stop-loss for ASA International Group PLC stock
On the downside, the stock finds support just below today's level from accumulated volume at £62.50 and £62.00. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, ASA International Group PLC finds support just below today's level at £62.50. If this is broken, then the next support from accumulated volume will be at £62.00 and £54.75.
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 between high and low, or 0%. For the last week the stock has had daily average volatility of 3.88%
The ASA International Group PLC stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: £63.94 (-3.12%) (This stock has low daily movements and this gives low risk. The RSI14 is 94 and this increases the risk substantially. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (ASAI.L) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect ASA International Group PLC to open at £66.00, and during the day (based on 14 day Average True Range), to move between £62.93 and £69.07, which gives a possible trading interval of +/-£3.07 (+/-4.66%) up or down from last closing price. If ASA International Group PLC takes out the full calculated possible swing range there will be an estimated 9.31% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ £62.50, some £3.50 (5.30%) from the current price of £66.00, our system finds the risk reward attractive.
Is ASA International Group PLC stock A Buy?
ASA International Group PLC holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.581 Hold/Accumulate Downgraded
Predicted Opening Price for ASA International Group PLC of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| £66.00 ( 0%) | £66.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ASAI.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 66.00 | . | |
| R2 | 66.00 | . | ||
| R1 | 66.00 | . | ||
| Current price: | 66.00 | |||
| Support | S1 | 66.00 | . | |
| S2 | 66.00 | . | ||
| S3 | 66.00 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 66.00 | |||
| Support | S1 | 62.50 | -5.30% | |
| S2 | 62.00 | -6.06% | ||
| S3 | 54.75 | -17.05% |
ASAI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 16, 2019 | Jun 06, 2019 | Jun 28, 2019 | £5.58 | 1.59% |
FAQ
Click here for our free guide on how to buy ASA International Group PLC Stock.
