Incitec Pivot Limited Stock Forecast
Incitec Pivot Limited stock upgraded to Buy Candidate.
(Updated on May 07, 2024)
The Incitec Pivot Limited stock price gained 1.81% on the last trading day (Tuesday, 7th May 2024), rising from $2.77 to $2.82. During the last trading day the stock fluctuated 1.99% from a day low at $2.77 to a day high of $2.83. The price has been going up and down for this period, and there has been a 1.44% gain for the last 2 weeks. Volume fell on the last day by -2 million shares and in total, 2 million shares were bought and sold for approximately $6.99 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 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 4.80% during the next 3 months and, with a 90% probability hold a price between $2.88 and $3.12 at the end of this 3-month period.
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IPL.AX Signals & Forecast
Mostly positive signals in the chart today. The Incitec Pivot 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 $2.79 and $2.80. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 3.68%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Incitec Pivot Limited stock
Incitec Pivot Limited finds support from accumulated volume at $2.77 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 $0.0550 between high and low, or 1.99%. For the last week the stock has had daily average volatility of 1.63%.
Our recommended stop-loss: $2.69 (-4.76%) (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 (IPL.AX) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Incitec Pivot Limited to open at $2.81, and during the day (based on 14 day Average True Range), to move between $2.77 and $2.87, which gives a possible trading interval of +/-$0.0500 (+/-1.77%) up or down from last closing price. If Incitec Pivot Limited takes out the full calculated possible swing range there will be an estimated 3.55% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.83 (0.35%) than the support at $2.77 (1.77%), 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 Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Incitec Pivot Limited stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 4.820 Buy Candidate Upgraded
Predicted Opening Price for Incitec Pivot Limited of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $2.81 ( 0.532%) | $2.82 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IPL.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.86 | 1.42 % | |
| R2 | 2.84 | 0.673 % | ||
| R1 | 2.83 | 0.213 % | ||
| Current price: | 2.82 | |||
| Support | S1 | 2.78 | -1.28 % | |
| S2 | 2.77 | -1.74 % | ||
| S3 | 2.75 | -2.48 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.92 | 3.55 % | |
| R2 | 2.90 | 2.84 % | ||
| R1 | 2.83 | 0.355 % | ||
| Current price | 2.82 | |||
| Support | S1 | 2.77 | -1.77% | |
| S2 | 2.71 | -3.90% | ||
| S3 | 2.69 | -4.61% |
IPL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 31, 2024 | Jan 31, 2024 | Feb 08, 2024 | $0.257 | 9.53% |
| 2 | Dec 04, 2023 | Dec 04, 2023 | Dec 04, 2023 | $0 | 0% |
| 3 | Jun 15, 2023 | Jun 15, 2023 | Jun 15, 2023 | $0.100 | 3.82% |
| 4 | Dec 05, 2022 | Dec 05, 2022 | Dec 05, 2022 | $0.170 | 4.43% |
| 5 | Jun 06, 2022 | Jun 06, 2022 | Jun 06, 2022 | $0.100 | 2.79% |
FAQ
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