Ashley Services Group Limited Stock Forecast
Ashley Services Group Limited stock downgraded to Strong Sell Candidate
(Updated on May 20, 2024)
The Ashley Services Group Limited stock price fell by -3.20% on the last day (Monday, 20th May 2024) from $0.250 to $0.242. During the last trading day the stock fluctuated 6.25% from a day low at $0.240 to a day high of $0.255. The price has fallen in 6 of the last 10 days and is down by -5.1% for this period. Volume has increased on the last day by 72 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, 104 thousand shares were bought and sold for approximately $25.08 thousand.
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 -4.59% during the next 3 months and, with a 90% probability hold a price between $0.180 and $0.279 at the end of this 3-month period.
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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 $0.243 and $0.263. 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 -19.33%. 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). Ashley Services 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". 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0150 between high and low, or 6.25%. For the last week, the stock has had daily average volatility of 4.18%.
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 Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Ashley Services Group Limited to open at $0.246, and during the day (based on 14 day Average True Range), to move between $0.228 and $0.256, which gives a possible trading interval of +/-$0.0139 (+/-5.75%) 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 11.49% 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 (2.89%) than the resistance at $0.250 (3.31%), 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.782 Strong Sell Candidate Downgraded
Predicted Opening Price for Ashley Services Group Limited of Tuesday, May 21, 2024
Fair opening price May 21, 2024 | Current price |
---|---|
$0.246 ( 1.52%) | $0.242 |
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 | 0.261 | 7.71 % | |
R2 | 0.255 | 5.35 % | ||
R1 | 0.251 | 3.88 % | ||
Current price: | 0.242 | |||
Support | S1 | 0.240 | -0.85 % | |
S2 | 0.236 | -2.32 % | ||
S3 | 0.231 | -4.68 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.270 | 11.57 % | |
R2 | 0.260 | 7.44 % | ||
R1 | 0.250 | 3.31 % | ||
Current price | 0.242 | |||
Support | S1 | 0.235 | -2.89% | |
S2 | 0.225 | -7.02% | ||
S3 | 0.215 | -11.16% |
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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