Axos Financial Inc. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Strong day for Axos Financial Inc. stock price on Wednesday rising 9.66% to $55.50
(Updated on May 01, 2024)
The Axos Financial Inc. stock price gained 9.66% on the last trading day (Wednesday, 1st May 2024), rising from $50.61 to $55.50. During the last trading day the stock fluctuated 7.37% from a day low at $53.92 to a day high of $57.89. The price has risen in 8 of the last 10 days and is up by 13.59% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 512 thousand more shares were traded than the day before. In total, 956 thousand shares were bought and sold for approximately $53.06 million.
The stock has broken the wide and horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. $53.70 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach $58.68 sometime during the next 3 months.
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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 $52.61 and $51.31. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 13.59%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Axos Financial Inc. stock
Axos Financial Inc. finds support from accumulated volume at $53.16 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $3.97 (7.37%) between high and low. For the last week, the stock has had daily average volatility of 3.74%.
Our recommended stop-loss: $53.51 (-3.58%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (AX) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Axos Financial Inc. to open at $55.77, and during the day (based on 14 day Average True Range), to move between $53.63 and $57.37, which gives a possible trading interval of +/-$1.87 (+/-3.38%) up or down from last closing price. If Axos Financial Inc. takes out the full calculated possible swing range there will be an estimated 6.75% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $53.16, some $2.34 (4.22%) from the current price of $55.50, our system finds the risk reward attractive.
Is Axos Financial Inc. stock A Buy?
Several short-term signals are positive and the stock has broken the horizontal trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Axos Financial Inc. stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 3.418 Buy Candidate Upgraded
Predicted Opening Price for Axos Financial Inc. of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $55.77 ( 0.489%) | $55.50 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 59.75 | 7.65 % | |
| R2 | 58.23 | 4.92 % | ||
| R1 | 57.29 | 3.22 % | ||
| Current price: | 55.50 | |||
| Support | S1 | 54.25 | -2.25 % | |
| S2 | 53.32 | -3.94 % | ||
| S3 | 51.80 | -6.67 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 55.50 | |||
| Support | S1 | 53.16 | -4.22% | |
| S2 | 50.74 | -8.58% | ||
| S3 | 49.43 | -10.94% |
FAQ
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