Bendigo and Adelaide Bank Limited Stock Forecast
Red day on Friday for Bendigo and Adelaide Bank Limited stock after losing 0.433%
(Updated on Jun 28, 2024)
The Bendigo and Adelaide Bank Limited stock price fell by -0.433% on the last day (Friday, 28th Jun 2024) from $11.54 to $11.49. During the last trading day the stock fluctuated 1.70% from a day low at $11.45 to a day high of $11.64. The price has risen in 6 of the last 10 days and is up by 2.22% over the past 2 weeks. Volume has increased on the last day by 157 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 2 million shares were bought and sold for approximately $20.28 million.
The stock lies in the middle of a strong 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 21.00% during the next 3 months and, with a 90% probability hold a price between $13.18 and $14.16 at the end of this 3-month period.
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BEN.AX Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, June 26, 2024, and so far it has fallen -1.29%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The Bendigo and Adelaide Bank Limited 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 $11.47 and $10.99. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Bendigo and Adelaide Bank Limited stock
Bendigo and Adelaide Bank Limited finds support from accumulated volume at $11.33 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.195 between high and low, or 1.70%. For the last week the stock has had daily average volatility of 1.37%.
Our recommended stop-loss: $11.09 (-3.50%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 51 days ago.)
Trading Expectations (BEN.AX) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Bendigo and Adelaide Bank Limited to open at $11.53, and during the day (based on 14 day Average True Range), to move between $11.34 and $11.64, which gives a possible trading interval of +/-$0.152 (+/-1.33%) up or down from last closing price. If Bendigo and Adelaide Bank Limited takes out the full calculated possible swing range there will be an estimated 2.65% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $11.54 (0.44%) than the support at $11.33 (1.39%), 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 Bendigo and Adelaide Bank Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Bendigo and Adelaide Bank Limited stock to perform well in the short-term.
Current score: 1.904 Buy Candidate Unchanged
Predicted Opening Price for Bendigo and Adelaide Bank Limited of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $11.53 ( 0.305%) | $11.49 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BEN.AX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 11.72 | 2.00% |
| R2 | 11.65 | 1.35% |
| R1 | 11.60 | 0.95% |
| Price | 11.49 | |
| S1 | 11.45 | -0.344% |
| S2 | 11.40 | -0.744% |
| S3 | 11.33 | -1.39% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 11.64 | 1.31% |
| R2 | 11.55 | 0.522% |
| R1 | 11.54 | 0.435% |
| Price | 11.49 | |
| S1 | 11.33 | -1.39% |
| S2 | 10.73 | -6.61% |
| S3 | 9.78 | -14.88% |
BEN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 22, 2024 | Feb 22, 2024 | Mar 26, 2024 | $0.300 | 3.00% |
| 2 | Sep 04, 2023 | Sep 04, 2023 | Sep 29, 2023 | $0.320 | 3.58% |
| 3 | Mar 06, 2023 | Mar 06, 2023 | Mar 06, 2023 | $0.290 | 3.07% |
| 4 | Sep 05, 2022 | Sep 05, 2022 | Sep 05, 2022 | $0.265 | 3.05% |
| 5 | Mar 07, 2022 | Mar 07, 2022 | Mar 07, 2022 | $0.265 | 2.92% |
FAQ
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