Aberdeen Asia-Pacific Income Fund, Inc Stock Forecast

Aberdeen Asia-Pacific Income Fund, Inc stock price down 1.95% on Monday
(Updated on Apr 29, 2024)

FAX Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, April 25, 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 Aberdeen Asia-Pacific Income Fund, Inc 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 $2.55 and $2.67. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss for Aberdeen Asia-Pacific Income Fund, Inc 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 has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0700 between high and low, or 2.79%. For the last week, the stock has had daily average volatility of 2.03%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (FAX) For The Upcoming Trading Day Of Tuesday 30th

For the upcoming trading day on Tuesday, 30th we expect Aberdeen Asia-Pacific Income Fund, Inc to open at $2.54, and during the day (based on 14 day Average True Range), to move between $2.47 and $2.57, which gives a possible trading interval of +/-$0.0465 (+/-1.85%) up or down from last closing price. If Aberdeen Asia-Pacific Income Fund, Inc takes out the full calculated possible swing range there will be an estimated 3.69% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $2.67, some $0.150 (5.95%) from the current price of $2.52, our system finds the risk reward not very attractive.

Is Aberdeen Asia-Pacific Income Fund, Inc stock A Buy?

Aberdeen Asia-Pacific Income Fund, Inc 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: -1.015 Sell Candidate Unchanged

Predicted Opening Price for Aberdeen Asia-Pacific Income Fund, Inc of Tuesday, April 30, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.