Ashot Ashkelon Industries Ltd. Stock Forecast
Ashot Ashkelon Industries Ltd. stock downgraded from Hold/Accumulate to Sell Candidate after Monday trading session.
(Updated on Jun 17, 2024)
The Ashot Ashkelon Industries Ltd. stock price gained 3.22% on the last trading day (Monday, 17th Jun 2024), rising from ₪3,011.00 to ₪3,108.00. During the last trading day the stock fluctuated 4.67% from a day low at ₪3,000.00 to a day high of ₪3,140.00. The price has fallen in 5 of the last 10 days and is down by -7.2% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 thousand more shares were traded than the day before. In total, 8 thousand shares were bought and sold for approximately ₪24.10 million.
The stock lies in the middle of a very wide and strong 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 27.70% during the next 3 months and, with a 90% probability hold a price between ₪3,722.96 and ₪4,801.50 at the end of this 3-month period.
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ASHO.TA Signals & Forecast
There are mixed signals in the stock today. The Ashot Ashkelon Industries Ltd. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ₪3,234.63. On a fall, the stock will find some support from the short-term average at ₪3,047.43. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Friday, May 31, 2024, and so far it has fallen -13.52%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Ashot Ashkelon Industries Ltd. stock
Ashot Ashkelon Industries Ltd. finds support from accumulated volume at ₪3,062.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ₪140.00 between high and low, or 4.67%. For the last week, the stock has had daily average volatility of 3.34%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ASHO.TA) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Ashot Ashkelon Industries Ltd. to open at ₪3,082.67, and during the day (based on 14 day Average True Range), to move between ₪2,988.80 and ₪3,227.20, which gives a possible trading interval of +/-₪119.20 (+/-3.84%) up or down from last closing price. If Ashot Ashkelon Industries Ltd. takes out the full calculated possible swing range there will be an estimated 7.67% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₪3,133.00 (0.80%) than the support at ₪3,062.00 (1.48%), 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 Ashot Ashkelon Industries Ltd. stock A Buy?
Ashot Ashkelon Industries Ltd. holds several negative signals and we believe that 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 Hold/Accumulate to a Sell candidate.
Current score: -3.852 Sell Candidate Downgraded
Predicted Opening Price for Ashot Ashkelon Industries Ltd. of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| ₪3,082.67 ( 0.82%) | ₪3,108.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ASHO.TA
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3,222.67 | 3.69% |
| R2 | 3,169.19 | 1.97% |
| R1 | 3,136.15 | 0.91% |
| Price | 3,108.00 | |
| S1 | 3,029.19 | -2.54% |
| S2 | 2,996.15 | -3.60% |
| S3 | 2,942.67 | -5.32% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3,474.00 | 11.78% |
| R2 | 3,428.00 | 10.30% |
| R1 | 3,133.00 | 0.80% |
| Price | 3,108.00 | |
| S1 | 3,062.00 | -1.48% |
| S2 | 2,683.00 | -13.67% |
| S3 | 2,390.00 | -23.10% |
ASHO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 29, 2024 | May 29, 2024 | Jun 06, 2024 | ₪33.94 | 1.12% |
| 2 | Aug 28, 2023 | Aug 28, 2023 | Aug 28, 2023 | ₪42.42 | 2.46% |
| 3 | Apr 09, 2023 | Apr 09, 2023 | Apr 09, 2023 | ₪42.42 | 2.88% |
| 4 | Nov 23, 2022 | Nov 23, 2022 | Nov 23, 2022 | ₪14.85 | 0.89% |
| 5 | Jul 25, 2013 | Jul 25, 2013 | Jul 25, 2013 | ₪12.73 | 1.36% |
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