Bega Cheese Limited Stock Forecast

Evaluation of Bega Cheese Limited stock downgraded after the last trading session.
(Updated on May 17, 2024)

BGA.AX Signals & Forecast

The Bega Cheese Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $4.39. On a fall, the stock will find some support from the long-term average at approximately $4.21. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Friday, May 03, 2024, and so far it has fallen -4.47%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. The stock had a Golden Star Signal on Monday, April 22, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Bega Cheese Limited stock

Bega Cheese Limited finds support from accumulated volume at $4.15 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 $0.160 between high and low, or 3.76%. For the last week, the stock has had daily average volatility of 2.20%.

Our recommended stop-loss: $4.07 (-4.79%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 10 days ago.)

Trading Expectations (BGA.AX) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Bega Cheese Limited to open at $4.32, and during the day (based on 14 day Average True Range), to move between $4.17 and $4.37, which gives a possible trading interval of +/-$0.0992 (+/-2.32%) up or down from last closing price. If Bega Cheese Limited takes out the full calculated possible swing range there will be an estimated 4.65% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $4.31 (0.94%) than the support at $4.15 (2.81%), 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 Bega Cheese Limited stock A Buy?

Bega Cheese Limited 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.534 Hold/Accumulate Downgraded

Predicted Opening Price for Bega Cheese Limited of Monday, May 20, 2024

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