Nufarm Limited Stock Forecast
Nufarm Limited stock downgraded from Hold/Accumulate to Sell Candidate after Wednesday trading session.
(Updated on Jul 03, 2024)
No changes to the price of Nufarm Limited stock on the last trading day (Wednesday, 3rd Jul 2024). During the last trading day the stock fluctuated 1.21% from a day low at $4.54 to a day high of $4.59. The price has fallen in 7 of the last 10 days and is down by -4.22% for this period.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -13.46% during the next 3 months and, with a 90% probability hold a price between $3.58 and $4.15 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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NUF.AX Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, May 30, 2024, and so far it has risen 2.95%. Further rise is indicated until a new top pivot has been found. The volume rose on the last day while price remained unchanged. This may be an early warning and the stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Nufarm Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $4.60 and $4.72. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Nufarm Limited stock
Nufarm Limited finds support from accumulated volume at $4.47 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 1.21%. For the last week the stock has had daily average volatility of 1.78%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NUF.AX) For The Upcoming Trading Day Of Thursday 4th
For the upcoming trading day on Thursday, 4th we expect Nufarm Limited to open at $4.56, and during the day (based on 14 day Average True Range), to move between $4.44 and $4.64, which gives a possible trading interval of +/-$0.103 (+/-2.27%) up or down from last closing price. If Nufarm Limited takes out the full calculated possible swing range there will be an estimated 4.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $4.57 (0.66%) than the support at $4.47 (1.54%), 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 Nufarm Limited stock A Buy?
Nufarm Limited holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.979 Sell Candidate Downgraded
Predicted Opening Price for Nufarm Limited of Thursday, July 4, 2024
| Fair opening price July 4, 2024 | Current price |
|---|---|
| $4.56 ( 0.330%) | $4.54 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NUF.AX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.61 | 1.54% |
| R2 | 4.59 | 1.08% |
| R1 | 4.58 | 0.793% |
| Price | 4.54 | |
| S1 | 4.53 | -0.132% |
| S2 | 4.52 | -0.418% |
| S3 | 4.50 | -0.88% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5.15 | 13.44% |
| R2 | 4.73 | 4.19% |
| R1 | 4.57 | 0.661% |
| Price | 4.54 | |
| S1 | 4.47 | -1.54% |
| S2 | 4.46 | -1.76% |
| S3 | 4.41 | -2.86% |
NUF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 29, 2024 | May 29, 2024 | Jun 14, 2024 | $0.0400 | 0.83% |
| 2 | Nov 22, 2023 | Nov 22, 2023 | Nov 22, 2023 | $0.0500 | 1.09% |
| 3 | May 25, 2023 | May 25, 2023 | May 25, 2023 | $0.0500 | 0.93% |
| 4 | Nov 24, 2022 | Nov 24, 2022 | Nov 24, 2022 | $0.0600 | 0.96% |
| 5 | May 26, 2022 | May 26, 2022 | May 26, 2022 | $0.0400 | 0.750% |
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