14-day Premium Trial Subscription Try For FreeTry Free
RSI low/high Values: [ 20 - 80 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of HIT.AX
Powered by GPT-4o
Upgraded!
Stock Analysis
Risk Assessment
Trading Strategy

Red day on Monday for HiTech Group Australia Limited stock after losing 0%
(Updated on Jun 17, 2024)

Hold candidate since Jun 14, 2024 PDF

No changes to the price of HiTech Group Australia Limited stock on the last trading day (Monday, 17th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at $2.01 to a day high of $2.01. The price has been going up and down for this period, and there has been a 6.35% gain for the last 2 weeks.

The stockhas broken the falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $2.01, a level that may pose a second chance to hit a runner. According to fan-theory $2.18 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.

Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.

HIT.AX Signals & Forecast

The HiTech Group Australia Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $1.93 and $1.93. 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). 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 Friday, June 14, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued. The stock had a Golden Star Signal on Monday, October 16, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Buy
Special Signal Notification

Golden Star 12 Months

The stock had a Golden Star Signal on Monday, October 16, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for HiTech Group Australia Limited stock

HiTech Group Australia Limited finds support from accumulated volume at $1.98 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 1.25%

The HiTech Group Australia Limited stock is extremely overbought on RSI14 (83). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

Our recommended stop-loss: $1.94 (-3.34%) (This stock has low daily movements and this gives low risk. The RSI14 is 83 and this increases the risk substantially. There is a sell signal from a pivot top found 8 days ago.)

Trading Expectations (HIT.AX) For The Upcoming Trading Day Of Tuesday 18th

For the upcoming trading day on Tuesday, 18th we expect HiTech Group Australia Limited to open at $2.01, and during the day (based on 14 day Average True Range), to move between $1.98 and $2.04, which gives a possible trading interval of +/-$0.0253 (+/-1.26%) up or down from last closing price. If HiTech Group Australia Limited takes out the full calculated possible swing range there will be an estimated 2.51% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $2.02 (0.50%) than the support at $1.98 (1.49%), 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 HiTech Group Australia Limited stock A Buy?

HiTech Group Australia Limited 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.

Current score: 0.435 Hold/Accumulate Unchanged

Predicted Opening Price for HiTech Group Australia Limited of Tuesday, June 18, 2024

Fair opening price June 18, 2024 Current price
$2.01 ( 0%) $2.01

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

Trading levels for HIT.AX

Fibonacci Support & Resistance Levels

Level Price
R3 2.01 -
R2 2.01 -
R1 2.01 -
Price 2.01
S1 2.01 -
S2 2.01 -
S3 2.01 -

Accumulated Volume Support & Resistance Levels

Level Price
R3 2.06 2.49%
R2 2.04 1.49%
R1 2.02 0.498%
Price 2.01
S1 1.98 -1.49%
S2 1.96 -2.49%
S3 1.90 -5.47%

HIT Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 Mar 04, 2024 Mar 04, 2024 Mar 19, 2024 $0.0500 2.43%
2 Sep 01, 2023 Sep 01, 2023 Sep 18, 2023 $0.0500 2.56%
3 Mar 06, 2023 Mar 06, 2023 Mar 06, 2023 $0.0500 2.54%
4 Dec 08, 2022 Dec 08, 2022 Dec 08, 2022 $0.0150 0.732%
5 Sep 01, 2022 Sep 01, 2022 Sep 01, 2022 $0.0600 2.79%

FAQ

What is the symbol for HiTech Group Australia Limited Stock and on which exchange is it traded?
The symbol for HiTech Group Australia Limited is HIT.AX and it is traded on the ASX (Australian Securities Exchange).

Should I buy or sell HiTech Group Australia Limited Stock?
HiTech Group Australia Limited 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.

How to buy HiTech Group Australia Limited Stock?
HiTech Group Australia Limited Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy HiTech Group Australia Limited Stock.

What's the current price of HiTech Group Australia Limited Stock?
As of the end of day on the Jun 17, 2024, the price of an HiTech Group Australia Limited (HIT.AX) share was $2.01.

What is the 52-week high and low for HiTech Group Australia Limited Stock?
The 52-week high for HiTech Group Australia Limited Stock is $2.40 and the 52-week low is $1.61.

What is the market capitalization of HiTech Group Australia Limited Stock?
As of the Jun 17, 2024, the market capitalization of HiTech Group Australia Limited is 85.023M.

When is the next earnings date for HiTech Group Australia Limited?
The upcoming earnings date for HiTech Group Australia Limited is Aug 09, 2024.
Click to get the best stock tips daily for free!

About HiTech Group Australia Limited

HiTech Group Australia Limited HiTech Group Australia Limited provides recruitment services for permanent and contract staff to the information and communications technology (ICT) industry in public and private sectors in Australia. Its permanent recruitment services comprise the search and selection of candidates for full time employment; and ICT contracting services include the provision of ICT professionals for temporary and other non-permanent staffing needs of clients for... HIT.AX Profile

Top Fintech Company

StockInvest.us featured in The Global Fintech Index 2020 as the top Fintech company of the country.

Full report by FINDEXABLE

ROCKIT