Coles Group Limited Stock Forecast
Red day on Friday for Coles Group Limited
(Updated on May 24, 2024)
The Coles Group Limited stock price fell by -1.04% on the last day (Friday, 24th May 2024) from $16.28 to $16.11. During the last trading day the stock fluctuated 0.81% from a day low at $16.06 to a day high of $16.19. The price has fallen in 6 of the last 10 days and is down by -0.8% 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 -420 thousand shares and in total, 2 million shares were bought and sold for approximately $30.87 million.
The stock lies in the middle of a narrow and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -3.55% during the next 3 months and, with a 90% probability hold a price between $15.18 and $15.93 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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COL.AX Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 0.625%. 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 Coles Group Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $16.25 and $16.22. 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 Coles Group Limited stock
Coles Group Limited finds support from accumulated volume at $16.09 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 $0.130 between high and low, or 0.81%. For the last week the stock has had daily average volatility of 0.98%.
Our recommended stop-loss: $15.22 (-5.50%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 57 days ago.)
Trading Expectations (COL.AX) For The Upcoming Trading Day Of Monday 27th
For the upcoming trading day on Monday, 27th we expect Coles Group Limited to open at $16.12, and during the day (based on 14 day Average True Range), to move between $15.90 and $16.32, which gives a possible trading interval of +/-$0.210 (+/-1.31%) up or down from last closing price. If Coles Group Limited takes out the full calculated possible swing range there will be an estimated 2.61% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $16.09 (0.12%) than the resistance at $16.28 (1.06%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Coles Group Limited stock A Buy?
Coles Group Limited 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: -0.743 Hold/Accumulate Unchanged
Predicted Opening Price for Coles Group Limited of Monday, May 27, 2024
| Fair opening price May 27, 2024 | Current price |
|---|---|
| $16.12 ( 0.0621%) | $16.11 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for COL.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.25 | 0.87 % | |
| R2 | 16.20 | 0.561 % | ||
| R1 | 16.17 | 0.370 % | ||
| Current price: | 16.11 | |||
| Support | S1 | 16.07 | -0.246 % | |
| S2 | 16.04 | -0.437 % | ||
| S3 | 15.99 | -0.745 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.75 | 3.97 % | |
| R2 | 16.69 | 3.60 % | ||
| R1 | 16.28 | 1.06 % | ||
| Current price | 16.11 | |||
| Support | S1 | 16.09 | -0.124% | |
| S2 | 16.05 | -0.372% | ||
| S3 | 15.88 | -1.43% |
COL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 05, 2024 | Mar 05, 2024 | Mar 27, 2024 | $0.360 | 2.13% |
| 2 | Mar 02, 2023 | Mar 02, 2023 | Mar 02, 2023 | $0.360 | 2.07% |
| 3 | Sep 02, 2022 | Sep 02, 2022 | Sep 02, 2022 | $0.300 | 1.71% |
| 4 | Mar 03, 2022 | Mar 03, 2022 | Mar 03, 2022 | $0.330 | 1.94% |
| 5 | Aug 26, 2021 | Aug 26, 2021 | Aug 26, 2021 | $0.280 | 1.59% |
FAQ
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