Aberdeen Asia-Pacific Income Fund, Inc Stock Forecast
Aberdeen Asia-Pacific Income Fund, Inc stock upgraded from Strong Sell Candidate to Hold/Accumulate after Monday trading session.
(Updated on May 20, 2024)
The Aberdeen Asia-Pacific Income Fund, Inc stock price gained 1.93% on the last trading day (Monday, 20th May 2024), rising from $2.59 to $2.64. During the last trading day the stock fluctuated 1.34% from a day low at $2.61 to a day high of $2.64. The price has risen in 5 of the last 10 days and is up by 1.15% 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, 29 thousand more shares were traded than the day before. In total, 856 thousand shares were bought and sold for approximately $2.26 million.
The stock lies the upper part of a falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $2.64 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -6.09% during the next 3 months and, with a 90% probability hold a price between $2.31 and $2.48 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
FAX Signals & Forecast
The Aberdeen Asia-Pacific Income Fund, Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $2.61 and $2.60. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Wednesday, May 15, 2024, and so far it has fallen -0.377%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Aberdeen Asia-Pacific Income Fund, Inc stock
Aberdeen Asia-Pacific Income Fund, Inc finds support from accumulated volume at $2.59 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 $0.0350 between high and low, or 1.34%. For the last week the stock has had daily average volatility of 1.49%.
Our recommended stop-loss: $2.54 (-3.69%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 14 days ago.)
Trading Expectations (FAX) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Aberdeen Asia-Pacific Income Fund, Inc to open at $2.63, and during the day (based on 14 day Average True Range), to move between $2.60 and $2.68, which gives a possible trading interval of +/-$0.0448 (+/-1.70%) 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 3.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.69 (1.89%) than the support at $2.59 (1.89%), 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.
Is Aberdeen Asia-Pacific Income Fund, Inc stock A Buy?
Aberdeen Asia-Pacific Income Fund, Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Hold/Accumulate candidate.
Current score: -0.747 Hold/Accumulate Upgraded
Predicted Opening Price for Aberdeen Asia-Pacific Income Fund, Inc of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| $2.63 ( 0.442%) | $2.64 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FAX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.66 | 0.88 % | |
| R2 | 2.65 | 0.377 % | ||
| R1 | 2.64 | 0.0645 % | ||
| Current price: | 2.64 | |||
| Support | S1 | 2.61 | -0.95 % | |
| S2 | 2.61 | -1.26 % | ||
| S3 | 2.59 | -1.77 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.73 | 3.41 % | |
| R2 | 2.72 | 3.03 % | ||
| R1 | 2.69 | 1.89 % | ||
| Current price | 2.64 | |||
| Support | S1 | 2.59 | -1.89% | |
| S2 | 2.58 | -2.27% | ||
| S3 | 2.57 | -2.65% |
FAX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 09, 2024 | May 22, 2024 | May 31, 2024 | $0.0275 | 1.05% |
| 2 | Apr 22, 2024 | Apr 22, 2024 | Apr 30, 2024 | $0.0275 | 1.10% |
| 3 | Mar 20, 2024 | Mar 20, 2024 | Mar 28, 2024 | $0.0275 | 0.98% |
| 4 | Feb 09, 2024 | Feb 21, 2024 | Feb 29, 2024 | $0.0275 | 1.02% |
| 5 | Jan 10, 2024 | Jan 23, 2024 | Jan 31, 2024 | $0.0275 | 1.04% |
FAQ
Click here for our free guide on how to buy Aberdeen Asia-Pacific Income Fund, Inc Stock.
