Abu Dhabi National Co for Building Stock Forecast
Abu Dhabi National Co for Building stock price up more than 5.33% on Thursday
(Updated on Jun 27, 2024)
The Abu Dhabi National Co for Building stock price gained 5.33% on the last trading day (Thursday, 27th Jun 2024), rising from $0.375 to $0.395. It has now gained 3 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 5.40% from a day low at $0.389 to a day high of $0.410. The price has risen in 5 of the last 10 days and is up by 41.58% 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, 446 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $467.03 thousand.
Given the current short-term trend, the stock is expected to rise 38.45% during the next 3 months and, with a 90% probability hold a price between $0.352 and $0.547 at the end of this 3-month period.
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BILDCO.UH Signals & Forecast
Mostly positive signals in the chart today. The Abu Dhabi National Co for Building 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 $0.334 and $0.258. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 22, 2024, and so far it has risen 94.58%. 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). Abu Dhabi National Co for Building has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for Abu Dhabi National Co for Building stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.375 and $0.367. 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, Abu Dhabi National Co for Building finds support just below today's level at $0.375. If this is broken, then the next support from accumulated volume will be at $0.367 and $0.300.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0210 between high and low, or 5.40%. For the last week, the stock has had daily average volatility of 2.87%.
The Abu Dhabi National Co for Building stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $0.383 (-3.08%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 96 and this increases the risk substantially. There is a buy signal from a pivot bottom found 26 days ago.)
Trading Expectations (BILDCO.UH) For The Upcoming Trading Day Of Sunday 30th
For the upcoming trading day on Sunday, 30th we expect Abu Dhabi National Company for Building Materials - Buldco to open at $0.398, and during the day (based on 14 day Average True Range), to move between $0.378 and $0.412, which gives a possible trading interval of +/-$0.0169 (+/-4.28%) up or down from last closing price. If Abu Dhabi National Company for Building Materials - Buldco takes out the full calculated possible swing range there will be an estimated 8.55% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $0.375, some $0.0200 (5.06%) from the current price of $0.395, our system finds the risk reward attractive.
Is Abu Dhabi National Company for Building Materials - Buldco stock A Buy?
Abu Dhabi National Co for Building holds several positive signals and is within a strong 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.
Current score: 7.563 Strong Buy Candidate Unchanged
Predicted Opening Price for Abu Dhabi National Company for Building Materials - Buldco of Sunday, June 30, 2024
| Fair opening price June 30, 2024 | Current price |
|---|---|
| $0.398 ( 0.759%) | $0.395 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BILDCO.UH
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.419 | 6.08% |
| R2 | 0.411 | 4.05% |
| R1 | 0.406 | 2.79% |
| Price | 0.395 | |
| S1 | 0.390 | -1.27% |
| S2 | 0.385 | -2.53% |
| S3 | 0.377 | -4.56% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 0.395 | |
| S1 | 0.375 | -5.06% |
| S2 | 0.367 | -7.09% |
| S3 | 0.300 | -24.05% |
FAQ
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