ASX Limited Stock Forecast
Red day on Friday for ASX Limited stock after losing 0.582%
(Updated on Apr 19, 2024)
The ASX Limited stock price fell by -0.582% on the last day (Friday, 19th Apr 2024) from $40.37 to $40.13. During the last trading day the stock fluctuated 0.649% from a day low at $40.09 to a day high of $40.35. The price has fallen in 8 of the last 10 days and is down by -5.15% for this period. Volume has increased on the last day by 741 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, 9 thousand shares were bought and sold for approximately $346.72 thousand.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $40.02 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -3.58% during the next 3 months and, with a 90% probability hold a price between $38.59 and $42.84 at the end of this 3-month period.
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ASXFY Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 0.0648%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The ASX 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 $40.68 and $42.79. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). ASX 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 ASX Limited stock
ASX Limited finds support from accumulated volume at $40.10 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 $0.260 between high and low, or 0.649%. For the last week, the stock has had daily average volatility of 1.27%.
ASX Limited is oversold on RSI14 (17). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: $37.87 (-5.64%) (This stock has medium daily movements and this gives medium risk. Low RSI14 is 17 which reduces the risk some. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (ASXFY) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect ASX Limited to open at $40.19, and during the day (based on 14 day Average True Range), to move between $39.37 and $40.89, which gives a possible trading interval of +/-$0.762 (+/-1.90%) up or down from last closing price. If ASX Limited takes out the full calculated possible swing range there will be an estimated 3.80% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $40.10 (0.06%) than the resistance at $42.27 (5.32%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is ASX Limited stock A Buy?
ASX Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.679 Hold/Accumulate Unchanged
Predicted Opening Price for ASX Limited of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $40.19 ( 0.150%) | $40.13 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ASXFY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 40.45 | 0.797 % | |
| R2 | 40.35 | 0.550 % | ||
| R1 | 40.29 | 0.397 % | ||
| Current price: | 40.13 | |||
| Support | S1 | 40.09 | -0.0980 % | |
| S2 | 40.03 | -0.251 % | ||
| S3 | 39.93 | -0.498 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 44.66 | 11.29 % | |
| R2 | 43.69 | 8.87 % | ||
| R1 | 42.27 | 5.32 % | ||
| Current price | 40.13 | |||
| Support | S1 | 40.10 | -0.0648% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
ASXFY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 17, 2024 | Mar 01, 2024 | Apr 10, 2024 | $0.608 | 1.47% |
| 2 | Sep 07, 2023 | Sep 07, 2023 | Oct 12, 2023 | $0.671 | 1.84% |
| 3 | May 27, 2023 | Mar 09, 2023 | Apr 12, 2023 | $0.80 | 1.70% |
| 4 | Sep 08, 2022 | Sep 08, 2022 | Sep 08, 2022 | $0.83 | 1.66% |
| 5 | Mar 03, 2022 | Mar 03, 2022 | Mar 03, 2022 | $0.83 | 1.42% |
FAQ
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