Benjamin Hornigold Ltd Fund Forecast

Benjamin Hornigold Ltd fund price ended at A$0.225 on Wednesday, after losing 2.17%.
(Updated on Jun 26, 2024)

BHD.AX Signals & Forecast

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. The Benjamin Hornigold Ltd fund holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at A$0.229 and A$0.234. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, June 25, 2024, and so far it has fallen -2.17%. Further fall is indicated until a new bottom pivot has been found. Benjamin Hornigold Ltd gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Benjamin Hornigold Ltd fund

Benjamin Hornigold Ltd finds support from accumulated volume at A$0.215 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the fund tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the fund moved A$0 between high and low, or 0%. For the last week the fund has had daily average volatility of 0%.

Our recommended stop-loss: A$0.216 (-3.78%) (This fund has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (BHD.AX) For The Upcoming Trading Day Of Thursday 27th

For the upcoming trading day on Thursday, 27th we expect Benjamin Hornigold Ltd to open at A$0.225, and during the day (based on 14 day Average True Range), to move between A$0.225 and A$0.225, which gives a possible trading interval of +/-A$ (+/-0.00%) up or down from last closing price. If Benjamin Hornigold Ltd takes out the full calculated possible swing range there will be an estimated 0.00% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at A$0.230 (2.22%) than the support at A$0.215 (4.44%), 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 Benjamin Hornigold Ltd fund A Buy?

Benjamin Hornigold Ltd holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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 Benjamin Hornigold Ltd of Thursday, June 27, 2024

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