Axos Financial Inc. Stock Forecast
Axos Financial Inc. stock upgraded to Strong Buy Candidate.
(Updated on Jul 02, 2024)
The Axos Financial Inc. stock price gained 1.83% on the last trading day (Tuesday, 2nd Jul 2024), rising from $57.38 to $58.43. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.07% from a day low at $57.39 to a day high of $58.58. The price has risen in 8 of the last 10 days and is up by 9.52% over the past 2 weeks. Volume fell on the last day by -10 thousand shares and in total, 377 thousand shares were bought and sold for approximately $22.02 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 6.81% during the next 3 months and, with a 90% probability hold a price between $55.01 and $68.33 at the end of this 3-month period.
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AX Signals & Forecast
Mostly positive signals in the chart today. The Axos Financial Inc. 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 $56.09 and $55.77. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 16.28%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Axos Financial Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $55.50 and $51.67. 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, Axos Financial Inc. finds support just below today's level at $55.50. If this is broken, then the next support from accumulated volume will be at $51.67 and $50.25.
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 $1.19 between high and low, or 2.07%. For the last week, the stock has had daily average volatility of 2.08%.
Our recommended stop-loss: $56.72 (-2.92%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 79 and this increases the risk substantially. There is a buy signal from a pivot bottom found 33 days ago.)
Trading Expectations (AX) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Axos Financial Inc. to open at $58.13, and during the day (based on 14 day Average True Range), to move between $56.84 and $60.02, which gives a possible trading interval of +/-$1.59 (+/-2.72%) up or down from last closing price. If Axos Financial Inc. takes out the full calculated possible swing range there will be an estimated 5.45% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $59.21 (1.33%) than the support at $55.50 (5.01%), 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 Axos Financial Inc. stock A Buy?
Axos Financial Inc. holds several positive signals and is within a weak 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: 7.340 Strong Buy Candidate Upgraded
Predicted Opening Price for Axos Financial Inc. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $58.13 ( 0.508%) | $58.43 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 59.32 | 1.53% |
| R2 | 58.87 | 0.751% |
| R1 | 58.59 | 0.270% |
| Price | 58.43 | |
| S1 | 57.68 | -1.29% |
| S2 | 57.40 | -1.77% |
| S3 | 56.94 | -2.54% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 60.61 | 3.73% |
| R2 | 59.68 | 2.14% |
| R1 | 59.21 | 1.33% |
| Price | 58.43 | |
| S1 | 55.50 | -5.01% |
| S2 | 51.67 | -11.57% |
| S3 | 50.25 | -14.00% |
FAQ
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