Elixinol Global Limited Stock Forecast
High volatility in Elixinol Global Limited stock price on Friday which ended trading at $0.0040
(Updated on May 31, 2024)
The Elixinol Global Limited stock price fell by -20.00% on the last day (Friday, 31st May 2024) from $0.0050 to $0.0040. During the last trading day the stock fluctuated 25.00% from a day low at $0.0040 to a day high of $0.0050. The price has been going up and down for this period, and there has been a -20% loss for the last 2 weeks. 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 -105 thousand shares and in total, 850 shares were bought and sold for approximately $3.40 .
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 -34.61% during the next 3 months and, with a 90% probability hold a price between $0.0018 and $0.0034 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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EXL.AX Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, May 10, 2024, and so far it has fallen 0%. 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 Elixinol Global 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 $0.0043 and $0.0049. 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 along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Elixinol Global Limited stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0010 between high and low, or 25.00%. For the last week the stock has had daily average volatility of 20.00%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EXL.AX) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Elixinol Global Limited to open at $0.0043, and during the day (based on 14 day Average True Range), to move between $0.0031 and $0.0049, which gives a possible trading interval of +/-$0.0009 (+/-22.37%) up or down from last closing price. If Elixinol Global Limited takes out the full calculated possible swing range there will be an estimated 44.74% move between the lowest and the highest trading price during the day.
Is Elixinol Global Limited stock A Buy?
Elixinol Global 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -4.373 Sell Candidate Downgraded
Predicted Opening Price for Elixinol Global Limited of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| $0.0043 ( 8.33%) | $0.0040 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EXL.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0053 | 33.33 % | |
| R2 | 0.0050 | 23.78 % | ||
| R1 | 0.0047 | 17.88 % | ||
| Current price: | 0.0040 | |||
| Support | S1 | 0.0040 | -1.22 % | |
| S2 | 0.0037 | -7.12 % | ||
| S3 | 0.0033 | -16.67 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 0.0040 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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