Incitec Pivot Ltd Adr Stock Forecast

Incitec Pivot Ltd Adr stock downgraded from Buy Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 03, 2024)

INCZY Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, April 26, 2024, and so far it has risen 8.01%. 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 Incitec Pivot Ltd Adr 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 $1.78. On a fall, the stock will find some support from the short-term average at $1.75. 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. 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.

Buy

Special Signal Notification

Double Bottom Formation

A buy signal from a double bottom formation was found on Friday, March 08, 2024 and based on theory for this formation the price should go up by 15.27% to $2.05 within 20 trading days since signal was issued (Monday, May 06, 2024).

Support, Risk & Stop-loss for Incitec Pivot Ltd Adr stock

Incitec Pivot Ltd Adr finds support from accumulated volume at $1.74 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.140 between high and low, or 7.95%. For the last week the stock has had daily average volatility of 3.44%.

Our recommended stop-loss: $1.71 (-4.08%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 5 days ago.)

Trading Expectations (INCZY) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Incitec Pivot Ltd Adr to open at $1.81, and during the day (based on 14 day Average True Range), to move between $1.65 and $1.91, which gives a possible trading interval of +/-$0.130 (+/-7.32%) up or down from last closing price. If Incitec Pivot Ltd Adr takes out the full calculated possible swing range there will be an estimated 14.65% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $1.81 (1.69%) than the support at $1.74 (2.25%), 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 Incitec Pivot Ltd Adr stock A Buy?

Incitec Pivot Ltd Adr 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: -0.634 Hold/Accumulate Downgraded

Predicted Opening Price for Incitec Pivot Ltd Adr of Monday, May 6, 2024

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