Ashley Services Group Limited Stock Forecast
Red day on Thursday for Ashley Services Group Limited stock after losing 2.04%
(Updated on May 09, 2024)
The Ashley Services Group Limited stock price fell by -2.04% on the last day (Thursday, 9th May 2024) from $0.245 to $0.240. During the last trading day the stock fluctuated 4.17% from a day low at $0.240 to a day high of $0.250. The price has fallen in 6 of the last 10 days and is down by -9.43% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -107 thousand shares and in total, 3 thousand shares were bought and sold for approximately $671.04 .
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -18.07% during the next 3 months and, with a 90% probability hold a price between $0.129 and $0.226 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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ASH.AX Signals & Forecast
There are few to no technical positive signals at the moment. The Ashley Services 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 $0.253 and $0.264. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 04, 2024, and so far it has fallen -20.00%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Ashley Services Group Limited stock
Ashley Services Group Limited finds support from accumulated volume at $0.235 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0100 between high and low, or 4.17%. For the last week the stock has had daily average volatility of 2.88%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ASH.AX) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Ashley Services Group Limited to open at $0.243, and during the day (based on 14 day Average True Range), to move between $0.226 and $0.254, which gives a possible trading interval of +/-$0.0144 (+/-5.99%) up or down from last closing price. If Ashley Services Group Limited takes out the full calculated possible swing range there will be an estimated 11.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.235 (2.08%) than the resistance at $0.250 (4.17%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Ashley Services Group Limited stock A Buy?
Ashley Services Group Limited holds several negative signals and is within a very wide 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 stock.
Current score: -3.092 Sell Candidate Unchanged
Predicted Opening Price for Ashley Services Group Limited of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| $0.243 ( 1.39%) | $0.240 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ASH.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.253 | 5.56 % | |
| R2 | 0.250 | 3.96 % | ||
| R1 | 0.247 | 2.98 % | ||
| Current price: | 0.240 | |||
| Support | S1 | 0.240 | -0.203 % | |
| S2 | 0.237 | -1.19 % | ||
| S3 | 0.233 | -2.78 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.270 | 12.50 % | |
| R2 | 0.260 | 8.33 % | ||
| R1 | 0.250 | 4.17 % | ||
| Current price | 0.240 | |||
| Support | S1 | 0.235 | -2.08% | |
| S2 | 0.225 | -6.25% | ||
| S3 | 0.215 | -10.42% |
ASH Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 04, 2024 | Mar 04, 2024 | Mar 15, 2024 | $0.0050 | 1.92% |
| 2 | Mar 02, 2023 | Mar 02, 2023 | Mar 02, 2023 | $0.0300 | 4.00% |
| 3 | Aug 31, 2022 | Aug 31, 2022 | Aug 31, 2022 | $0.0300 | 4.24% |
| 4 | Mar 02, 2022 | Mar 02, 2022 | Mar 02, 2022 | $0.0300 | 4.55% |
| 5 | Sep 01, 2021 | Sep 01, 2021 | Sep 01, 2021 | $0.0240 | 4.62% |
FAQ
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