Austal Limited Stock Forecast
Stronger technical forecast for Austal Limited stock price after Friday trading.
(Updated on Jun 28, 2024)
The Austal Limited stock price gained 0.81% on the last trading day (Friday, 28th Jun 2024), rising from $2.47 to $2.49. During the last trading day the stock fluctuated 2.65% from a day low at $2.46 to a day high of $2.52. The price has risen in 6 of the last 10 days and is up by 4.62% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 192 thousand more shares were traded than the day before. In total, 562 thousand shares were bought and sold for approximately $1.40 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 4.09% during the next 3 months and, with a 90% probability hold a price between $2.42 and $2.69 at the end of this 3-month period.
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ASB.AX Signals & Forecast
Mostly positive signals in the chart today. The Austal 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 $2.44 and $2.42. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 5.96%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Austal Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for Austal Limited stock
Austal Limited finds support from accumulated volume at $2.43 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.0650 between high and low, or 2.65%. For the last week the stock has had daily average volatility of 2.41%.
Our recommended stop-loss: $2.39 (-4.03%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 34 days ago.)
Trading Expectations (ASB.AX) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Austal Limited to open at $2.49, and during the day (based on 14 day Average True Range), to move between $2.43 and $2.55, which gives a possible trading interval of +/-$0.0604 (+/-2.43%) up or down from last closing price. If Austal Limited takes out the full calculated possible swing range there will be an estimated 4.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.52 (1.20%) than the support at $2.43 (2.41%), 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 Austal Limited stock A Buy?
Austal Limited holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 6.933 Strong Buy Candidate Upgraded
Predicted Opening Price for Austal Limited of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $2.49 ( 0.0669%) | $2.49 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ASB.AX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.55 | 2.54% |
| R2 | 2.53 | 1.55% |
| R1 | 2.51 | 0.93% |
| Price | 2.49 | |
| S1 | 2.46 | -1.06% |
| S2 | 2.45 | -1.68% |
| S3 | 2.42 | -2.68% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 2.53 | 1.61% |
| R1 | 2.52 | 1.20% |
| Price | 2.49 | |
| S1 | 2.43 | -2.41% |
| S2 | 2.42 | -2.81% |
| S3 | 2.38 | -4.42% |
ASB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 14, 2023 | Sep 14, 2023 | Oct 20, 2023 | $0.0300 | 1.68% |
| 2 | Mar 15, 2023 | Mar 15, 2023 | Mar 15, 2023 | $0.0400 | 2.23% |
| 3 | Sep 07, 2022 | Sep 07, 2022 | Sep 07, 2022 | $0.0400 | 1.58% |
| 4 | Mar 16, 2022 | Mar 16, 2022 | Mar 16, 2022 | $0.0400 | 1.97% |
| 5 | Sep 08, 2021 | Sep 08, 2021 | Sep 08, 2021 | $0.0400 | 2.21% |
FAQ
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