Elders Limited Stock Forecast
Red day on Wednesday for Elders Limited stock after losing 2.24%
(Updated on May 01, 2024)
The Elders Limited stock price fell by -2.24% on the last day (Wednesday, 1st May 2024) from $8.49 to $8.30. During the last trading day the stock fluctuated 2.29% from a day low at $8.29 to a day high of $8.48. The price has been going up and down for this period, and there has been a -0.84% loss for the last 2 weeks. Volume has increased on the last day by 73 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 389 thousand shares were bought and sold for approximately $3.23 million.
The stock lies in the middle of a very wide 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 -5.47% during the next 3 months and, with a 90% probability hold a price between $6.88 and $9.14 at the end of this 3-month period.
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ELD.AX Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 08, 2024, and so far it has risen 11.71%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Elders 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 $8.37 and $8.74. A break-up above any of these levels will issue buy signals. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Elders Limited stock
Elders Limited finds support from accumulated volume at $8.17 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 $0.190 between high and low, or 2.29%. For the last week, the stock has had daily average volatility of 2.76%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ELD.AX) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Elders Limited to open at $8.36, and during the day (based on 14 day Average True Range), to move between $7.99 and $8.61, which gives a possible trading interval of +/-$0.307 (+/-3.70%) up or down from last closing price. If Elders Limited takes out the full calculated possible swing range there will be an estimated 7.40% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $8.17 (1.57%) than the resistance at $8.93 (7.59%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Elders Limited stock A Buy?
Elders Limited holds several negative signals and is within a very 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: -1.564 Sell Candidate Unchanged
Predicted Opening Price for Elders Limited of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $8.36 ( 0.683%) | $8.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ELD.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.55 | 2.97 % | |
| R2 | 8.47 | 2.10 % | ||
| R1 | 8.43 | 1.56 % | ||
| Current price: | 8.30 | |||
| Support | S1 | 8.28 | -0.192 % | |
| S2 | 8.24 | -0.732 % | ||
| S3 | 8.17 | -1.61 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.04 | 8.92 % | |
| R2 | 8.95 | 7.83 % | ||
| R1 | 8.93 | 7.59 % | ||
| Current price | 8.30 | |||
| Support | S1 | 8.17 | -1.57% | |
| S2 | 8.00 | -3.61% | ||
| S3 | 7.43 | -10.48% |
ELD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 21, 2023 | Nov 21, 2023 | Nov 21, 2023 | $0.230 | 3.19% |
| 2 | May 23, 2023 | May 23, 2023 | May 23, 2023 | $0.230 | 3.48% |
| 3 | Nov 21, 2022 | Nov 21, 2022 | Nov 21, 2022 | $0.280 | 2.75% |
| 4 | May 30, 2022 | May 30, 2022 | May 30, 2022 | $0.280 | 2.13% |
| 5 | Nov 22, 2021 | Nov 22, 2021 | Nov 22, 2021 | $0.220 | 1.90% |
FAQ
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