Elders Limited Stock Forecast
Elders Limited stock price up 0.85% on Wednesday
(Updated on May 15, 2024)
The Elders Limited stock price gained 0.85% on the last trading day (Wednesday, 15th May 2024), rising from $8.28 to $8.35. During the last trading day the stock fluctuated 1.58% from a day low at $8.25 to a day high of $8.38. The price has risen in 5 of the last 10 days and is up by 0.6% 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, 93 thousand more shares were traded than the day before. In total, 337 thousand shares were bought and sold for approximately $2.82 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 -8.72% during the next 3 months and, with a 90% probability hold a price between $6.43 and $8.60 at the end of this 3-month period.
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ELD.AX Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. 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 $8.36 and $8.57. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 18, 2024, and so far it has fallen -2.11%. Further fall is indicated until a new bottom pivot has been found.
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.
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 1.58%. For the last week the stock has had daily average volatility of 1.65%.
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 16th
For the upcoming trading day on Thursday, 16th we expect Elders Limited to open at $8.33, and during the day (based on 14 day Average True Range), to move between $8.12 and $8.58, which gives a possible trading interval of +/-$0.228 (+/-2.74%) up or down from last closing price. If Elders Limited takes out the full calculated possible swing range there will be an estimated 5.47% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $8.40 (0.60%) than the support at $8.17 (2.16%), 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.
Earnings coming up
Elders Limited will release earnings BMO on Sunday, May 19, 2024. We will update the financials statements for Elders Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.08% in the first trading day after earnings release.
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: -2.334 Sell Candidate Unchanged
Predicted Opening Price for Elders Limited of Thursday, May 16, 2024
| Fair opening price May 16, 2024 | Current price |
|---|---|
| $8.33 ( 0.279%) | $8.35 |
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 | 8.46 | 1.28 % | |
| R2 | 8.41 | 0.683 % | ||
| R1 | 8.38 | 0.315 % | ||
| Current price: | 8.35 | |||
| Support | S1 | 8.28 | -0.87 % | |
| S2 | 8.25 | -1.24 % | ||
| S3 | 8.20 | -1.84 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.95 | 7.19 % | |
| R2 | 8.93 | 6.95 % | ||
| R1 | 8.40 | 0.599 % | ||
| Current price | 8.35 | |||
| Support | S1 | 8.17 | -2.16% | |
| S2 | 8.00 | -4.19% | ||
| S3 | 7.43 | -11.02% |
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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