Beach Energy Limited Stock Forecast
Beach Energy Limited stock price ended at $1.59 on Friday, after losing 0.625%.
(Updated on Apr 26, 2024)
The Beach Energy Limited stock price fell by -0.625% on the last day (Friday, 26th Apr 2024) from $1.60 to $1.59. During the last trading day the stock fluctuated 1.57% from a day low at $1.59 to a day high of $1.62. The price has fallen in 7 of the last 10 days and is down by -0.63% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -651 thousand shares and in total, 9 million shares were bought and sold for approximately $14.98 million.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $1.58 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Beach Energy Limited stock with a 90% probability to be traded between $1.56 and $1.89 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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BPT.AX Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 10, 2024, and so far it has risen 0.633%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Beach Energy Limited stock 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 $1.60 and $1.69. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Beach Energy Limited stock
Beach Energy Limited finds support from accumulated volume at $1.58 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0250 between high and low, or 1.57%. For the last week, the stock has had daily average volatility of 2.15%.
Beach Energy Limited is oversold on RSI14 (15). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BPT.AX) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Beach Energy Limited to open at $1.60, and during the day (based on 14 day Average True Range), to move between $1.54 and $1.64, which gives a possible trading interval of +/-$0.0531 (+/-3.34%) up or down from last closing price. If Beach Energy Limited takes out the full calculated possible swing range there will be an estimated 6.68% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.60 (0.63%) than the support at $1.58 (0.63%), 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 Beach Energy Limited stock A Buy?
Beach Energy Limited holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.447 Sell Candidate Unchanged
Predicted Opening Price for Beach Energy Limited of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $1.60 ( 0.524%) | $1.59 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BPT.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.62 | 2.10 % | |
| R2 | 1.61 | 1.50 % | ||
| R1 | 1.61 | 1.12 % | ||
| Current price: | 1.59 | |||
| Support | S1 | 1.59 | -0.0765 % | |
| S2 | 1.58 | -0.448 % | ||
| S3 | 1.57 | -1.05 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.62 | 1.57 % | |
| R2 | 1.61 | 1.26 % | ||
| R1 | 1.60 | 0.629 % | ||
| Current price | 1.59 | |||
| Support | S1 | 1.58 | -0.629% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
BPT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 28, 2024 | Feb 28, 2024 | Mar 28, 2024 | $0.0200 | 1.09% |
| 2 | Feb 27, 2023 | Feb 27, 2023 | Feb 27, 2023 | $0.0200 | 1.41% |
| 3 | Aug 30, 2022 | Aug 30, 2022 | Aug 30, 2022 | $0.0100 | 0.571% |
| 4 | Feb 25, 2022 | Feb 25, 2022 | Feb 25, 2022 | $0.0100 | 0.662% |
| 5 | Aug 30, 2021 | Aug 30, 2021 | Aug 30, 2021 | $0.0100 | 0.93% |
FAQ
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