Avance Gas Holding Ltd Stock Forecast

Stronger technical forecast for Avance Gas Holding Ltd stock price after Wednesday trading.
(Updated on May 08, 2024)

AVACF Signals & Forecast

Mostly positive signals in the chart today. The Avance Gas Holding Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $14.95 and $13.01. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 04, 2024, and so far it has risen 47.94%. 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). Avance Gas Holding Ltd 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. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Avance Gas Holding Ltd stock

On the downside, the stock finds support just below today's level from accumulated volume at $13.21 and $12.06. 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, Avance Gas Holding Ltd finds support just below today's level at $13.21. If this is broken, then the next support from accumulated volume will be at $12.06 and $11.68.

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 $0.264 between high and low, or 1.74%. For the last week, the stock has had daily average volatility of 1.44%.

The Avance Gas Holding Ltd stock is extremely overbought on RSI14 (86). This increases the short-term risk substantially.

Our recommended stop-loss: $14.92 (-3.28%) (This stock has high daily movements and this gives high risk. The RSI14 is 86 and this increases the risk substantially. There is a buy signal from a pivot bottom found 46 days ago.)

Trading Expectations (AVACF) For The Upcoming Trading Day Of Thursday 9th

For the upcoming trading day on Thursday, 9th we expect Avance Gas Holding Ltd to open at $15.39, and during the day (based on 14 day Average True Range), to move between $15.05 and $15.81, which gives a possible trading interval of +/-$0.381 (+/-2.47%) up or down from last closing price. If Avance Gas Holding Ltd takes out the full calculated possible swing range there will be an estimated 4.94% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $13.21, some $2.22 (14.39%) from the current price of $15.43, our system finds the risk reward attractive.

Is Avance Gas Holding Ltd stock A Buy?

Avance Gas Holding Ltd holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

Current score: 5.579 Strong Buy Candidate Upgraded

Predicted Opening Price for Avance Gas Holding Ltd of Thursday, May 9, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.