Avance Gas Holding Ltd Stock Forecast

Avance Gas Holding Ltd stock price up 1.77% on Friday
(Updated on May 17, 2024)

AVACF Signals & Forecast

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 $16.93 and $14.09. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 25, 2024, and so far it has risen 65.64%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.

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

Avance Gas Holding Ltd finds support from accumulated volume at $18.42 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 periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.715 between high and low, or 3.97%. For the last week the stock has had daily average volatility of 2.24%.

The Avance Gas Holding Ltd stock is extremely overbought on RSI14 (94). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken. Since the Avance Gas Holding Ltd has been rising for 8 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.

Our recommended stop-loss: $18.25 (-2.62%) (This stock has high daily movements and this gives high risk. The RSI14 is 94 and this increases the risk substantially. There is a buy signal from a pivot bottom found 38 days ago.)

Trading Expectations (AVACF) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Avance Gas Holding Ltd to open at $18.50, and during the day (based on 14 day Average True Range), to move between $18.25 and $19.24, which gives a possible trading interval of +/-$0.493 (+/-2.63%) 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 5.26% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $18.42, some $0.326 (1.74%) from the current price of $18.74, our system finds the risk reward attractive.

Is Avance Gas Holding Ltd stock A Buy?

Avance Gas Holding Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Avance Gas Holding Ltd of Monday, May 20, 2024

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