The a2 Milk Company Limited Stock Forecast
The a2 Milk Company Limited stock price down 0% on Thursday
(Updated on Jun 20, 2024)
No changes to the price of The a2 Milk Company Limited stock on the last trading day (Thursday, 20th Jun 2024). During the last trading day the stock fluctuated 2.99% from a day low at $7.02 to a day high of $7.23. The price has fallen in 5 of the last 10 days and is down by -6.61% for this period.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $7.15 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 21.22% during the next 3 months and, with a 90% probability hold a price between $8.66 and $10.10 at the end of this 3-month period.
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ATM.NZ Signals & Forecast
There are few to no technical positive signals at the moment. The The a2 Milk Company Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $7.32 and $7.30. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 28, 2024, and so far it has fallen -9.43%. 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 during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days. The stock had a Golden Star Signal on Wednesday, January 17, 2024 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Wednesday, January 17, 2024 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for The a2 Milk Company Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at $6.69 and $6.36. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, The a2 Milk Company Limited finds support just below today's level at $6.69. If this is broken, then the next support from accumulated volume will be at $6.36 and $6.35.
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 $0.210 between high and low, or 2.99%. For the last week, the stock has had daily average volatility of 3.26%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ATM.NZ) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect The a2 Milk Company Limited to open at $7.15, and during the day (based on 14 day Average True Range), to move between $6.98 and $7.42, which gives a possible trading interval of +/-$0.222 (+/-3.09%) up or down from last closing price. If The a2 Milk Company Limited takes out the full calculated possible swing range there will be an estimated 6.17% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $7.54 (4.72%) than the support at $6.69 (7.08%), 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 The a2 Milk Company Limited stock A Buy?
The The a2 Milk Company Limited stock holds several negative signals and despite the positive trend, we believe The a2 Milk Company Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.775 Sell Candidate Unchanged
Predicted Opening Price for The a2 Milk Company Limited of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| $7.15 ( 0.694%) | $7.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ATM.NZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.36 | 2.22% |
| R2 | 7.28 | 1.11% |
| R1 | 7.23 | 0.420% |
| Price | 7.20 | |
| S1 | 7.07 | -1.81% |
| S2 | 7.02 | -2.50% |
| S3 | 6.94 | -3.61% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.74 | 7.50% |
| R2 | 7.71 | 7.08% |
| R1 | 7.54 | 4.72% |
| Price | 7.20 | |
| S1 | 6.69 | -7.08% |
| S2 | 6.36 | -11.67% |
| S3 | 6.35 | -11.81% |
FAQ
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