Incitec Pivot Limited Stock Forecast
Evaluation of Incitec Pivot Limited stock downgraded after the last trading session.
(Updated on May 17, 2024)
The Incitec Pivot Limited stock price fell by -1.35% on the last day (Friday, 17th May 2024) from $2.97 to $2.93. During the last trading day the stock fluctuated 4.15% from a day low at $2.89 to a day high of $3.01. The price has been going up and down for this period, and there has been a 5.02% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -9 million shares and in total, 6 million shares were bought and sold for approximately $18.77 million.
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 5.63% during the next 3 months and, with a 90% probability hold a price between $2.93 and $3.18 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
IPL.AX Signals & Forecast
The Incitec Pivot Limited 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 $2.87 and $2.81. 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 Thursday, May 16, 2024, and so far it has fallen -1.35%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Incitec Pivot Limited stock
Incitec Pivot Limited finds support from accumulated volume at $2.80 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 $0.120 between high and low, or 4.15%. For the last week the stock has had daily average volatility of 2.82%.
Our recommended stop-loss: $2.81 (-4.13%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (IPL.AX) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Incitec Pivot Limited to open at $2.94, and during the day (based on 14 day Average True Range), to move between $2.87 and $2.99, which gives a possible trading interval of +/-$0.0590 (+/-2.01%) up or down from last closing price. If Incitec Pivot Limited takes out the full calculated possible swing range there will be an estimated 4.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.97 (1.37%) than the support at $2.80 (4.44%), 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 1.329 Buy Candidate Downgraded
Predicted Opening Price for Incitec Pivot Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $2.94 ( 0.455%) | $2.93 |
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 | 3.06 | 4.55 % | |
| R2 | 3.02 | 2.99 % | ||
| R1 | 2.99 | 2.02 % | ||
| Current price: | 2.93 | |||
| Support | S1 | 2.90 | -1.11 % | |
| S2 | 2.87 | -2.08 % | ||
| S3 | 2.82 | -3.64 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 2.97 | 1.37 % | ||
| Current price | 2.93 | |||
| Support | S1 | 2.80 | -4.44% | |
| S2 | 2.77 | -5.46% | ||
| S3 | 2.71 | -7.51% |
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
Click here for our free guide on how to buy Incitec Pivot Limited Stock.
