Autosports Group Limited Stock Forecast
Autosports Group Limited stock price ended at $2.10 on Wednesday, after losing 3.23%.
(Updated on Jun 26, 2024)
The Autosports Group Limited stock price fell by -3.23% on the last day (Wednesday, 26th Jun 2024) from $2.17 to $2.10. During the last trading day the stock fluctuated 2.86% from a day low at $2.10 to a day high of $2.16. The price has fallen in 6 of the last 10 days and is down by -5.83% for this period. Volume has increased on the last day by 52 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, 147 thousand shares were bought and sold for approximately $309.44 thousand.
The stock lies in the lower of a falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $2.10 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -22.23% during the next 3 months and, with a 90% probability hold a price between $1.63 and $1.74 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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ASG.AX Signals & Forecast
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. The Autosports Group Limited stock 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 $2.18 and $2.29. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, June 21, 2024, and so far it has fallen -7.49%. Further fall is indicated until a new bottom pivot has been found. Autosports Group Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Autosports Group Limited stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.0600 between high and low, or 2.86%. For the last week the stock has had daily average volatility of 3.96%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ASG.AX) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Autosports Group Limited to open at $2.12, and during the day (based on 14 day Average True Range), to move between $2.03 and $2.17, which gives a possible trading interval of +/-$0.0654 (+/-3.11%) up or down from last closing price. If Autosports Group Limited takes out the full calculated possible swing range there will be an estimated 6.23% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $2.20, some $0.100 (4.76%) from the current price of $2.10, our system finds the risk reward not very attractive.
Is Autosports Group Limited stock A Buy?
Autosports Group Limited holds several negative signals and is within a 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 stock.
Current score: -3.372 Sell Candidate Unchanged
Predicted Opening Price for Autosports Group Limited of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| $2.12 ( 0.95%) | $2.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ASG.AX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.18 | 3.81% |
| R2 | 2.16 | 2.72% |
| R1 | 2.14 | 2.04% |
| Price | 2.10 | |
| S1 | 2.10 | -0.139% |
| S2 | 2.08 | -0.81% |
| S3 | 2.06 | -1.90% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.60 | 23.81% |
| R2 | 2.58 | 22.86% |
| R1 | 2.20 | 4.76% |
| Price | 2.10 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
ASG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 16, 2024 | May 16, 2024 | May 31, 2024 | $0.100 | 4.59% |
| 2 | Oct 31, 2023 | Oct 31, 2023 | Nov 15, 2023 | $0.100 | 4.26% |
| 3 | May 16, 2023 | May 16, 2023 | May 16, 2023 | $0.0900 | 4.15% |
| 4 | Oct 31, 2022 | Oct 31, 2022 | Oct 31, 2022 | $0.0900 | 4.59% |
| 5 | May 16, 2022 | May 16, 2022 | May 16, 2022 | $0.0700 | 3.76% |
FAQ
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