IOOF Holdings Ltd Stock Forecast
Stronger technical forecast for IOOF Holdings Ltd stock price after Friday trading.
(Updated on May 10, 2024)
The IOOF Holdings Ltd stock price gained 0.85% on the last trading day (Friday, 10th May 2024), rising from $2.36 to $2.38. During the last trading day the stock fluctuated 1.69% from a day low at $2.36 to a day high of $2.40. The price has fallen in 6 of the last 10 days but is still up by 1.71% over the past 2 weeks. Volume fell on the last day by -467 thousand shares and in total, 580 thousand shares were bought and sold for approximately $1.38 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 2.28% during the next 3 months and, with a 90% probability hold a price between $2.37 and $2.68 at the end of this 3-month period.
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IFL.AX Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 3.48%. Further rise is indicated until a new top pivot has been found. 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. The IOOF Holdings Ltd stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $2.43. On a fall, the stock will find some support from the short-term average at $2.38. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
A sell signal from a double top formation was found on Wednesday, April 10, 2024 and based on theory for this formation the price should fall by -11.34% to $2.11 within 32 trading days since signal was issued (Monday, May 13, 2024).
Support, Risk & Stop-loss for IOOF Holdings Ltd stock
IOOF Holdings Ltd finds support from accumulated volume at $2.35 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 controlled movements and therefore the general risk is considered 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 $0.0400 between high and low, or 1.69%. For the last week the stock has had daily average volatility of 2.13%.
Our recommended stop-loss: $2.26 (-4.96%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 14 days ago.)
Trading Expectations (IFL.AX) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect IOOF Holdings Ltd to open at $2.38, and during the day (based on 14 day Average True Range), to move between $2.31 and $2.45, which gives a possible trading interval of +/-$0.0719 (+/-3.02%) up or down from last closing price. If IOOF Holdings Ltd takes out the full calculated possible swing range there will be an estimated 6.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.35 (1.26%) than the resistance at $2.45 (2.94%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is IOOF Holdings Ltd stock A Buy?
IOOF Holdings Ltd 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 Sell to a Hold/Accumulate candidate.
Current score: -0.643 Hold/Accumulate Upgraded
Predicted Opening Price for IOOF Holdings Ltd of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| $2.38 ( 0%) | $2.38 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IFL.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.42 | 1.68 % | |
| R2 | 2.40 | 1.04 % | ||
| R1 | 2.40 | 0.642 % | ||
| Current price: | 2.38 | |||
| Support | S1 | 2.36 | -0.642 % | |
| S2 | 2.36 | -1.04 % | ||
| S3 | 2.34 | -1.68 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.57 | 7.98 % | |
| R2 | 2.46 | 3.36 % | ||
| R1 | 2.45 | 2.94 % | ||
| Current price | 2.38 | |||
| Support | S1 | 2.35 | -1.26% | |
| S2 | 2.33 | -2.10% | ||
| S3 | 2.26 | -5.04% |
IFL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 08, 2024 | Mar 08, 2024 | Apr 03, 2024 | $0.0930 | 3.81% |
| 2 | Mar 10, 2023 | Mar 10, 2023 | Mar 10, 2023 | $0.0120 | 0.396% |
| 3 | Sep 07, 2022 | Sep 07, 2022 | Sep 07, 2022 | $0.118 | 3.76% |
| 4 | Mar 10, 2022 | Mar 10, 2022 | Mar 10, 2022 | $0.118 | 3.29% |
| 5 | Sep 07, 2021 | Sep 07, 2021 | Sep 07, 2021 | $0.0200 | 0.430% |
FAQ
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