ASX Limited Stock Forecast
ASX Limited stock price ended at $41.92 on Thursday, after gaining 2.67%.
(Updated on May 02, 2024)
The ASX Limited stock price gained 2.67% on the last trading day (Thursday, 2nd May 2024), rising from $40.83 to $41.92. During the last trading day the stock fluctuated 2.18% from a day low at $41.24 to a day high of $42.14. The price has been going up and down for this period, and there has been a 3.85% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 484 more shares were traded than the day before. In total, 7 thousand shares were bought and sold for approximately $276.25 thousand.
The stock lies in the middle of a 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 -5.20% during the next 3 months and, with a 90% probability hold a price between $37.57 and $41.47 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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ASXFY Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 4.53%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). ASX Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The ASX Limited 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 $42.20. On a fall, the stock will find some support from the short-term average at $41.37. 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 from a double top formation was found on Thursday, February 15, 2024 with a target of $42.73. Despite whether the objective of the signal formation has been reached the stock may continue to fall.
Support, Risk & Stop-loss for ASX Limited stock
ASX Limited finds support from accumulated volume at $41.84 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.90 between high and low, or 2.18%. For the last week the stock has had daily average volatility of 1.28%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ASXFY) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect ASX Limited to open at $41.77, and during the day (based on 14 day Average True Range), to move between $41.18 and $42.66, which gives a possible trading interval of +/-$0.745 (+/-1.78%) up or down from last closing price. If ASX Limited takes out the full calculated possible swing range there will be an estimated 3.55% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $41.84 (0.19%) than the resistance at $42.27 (0.83%), 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 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.
Current score: -1.489 Sell Candidate Unchanged
Predicted Opening Price for ASX Limited of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $41.77 ( 0.366%) | $41.92 |
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 | 42.67 | 1.78 % | |
| R2 | 42.32 | 0.96 % | ||
| R1 | 42.11 | 0.454 % | ||
| Current price: | 41.92 | |||
| Support | S1 | 41.42 | -1.19 % | |
| S2 | 41.21 | -1.69 % | ||
| S3 | 40.87 | -2.51 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 44.66 | 6.54 % | |
| R2 | 42.71 | 1.88 % | ||
| R1 | 42.27 | 0.83 % | ||
| Current price | 41.92 | |||
| Support | S1 | 41.84 | -0.191% | |
| S2 | 41.76 | -0.382% | ||
| S3 | 40.72 | -2.86% |
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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