OFX Group Limited Stock Forecast
OFX Group Limited stock upgraded to Hold/Accumulate.
(Updated on Apr 18, 2024)
The OFX Group Limited stock price gained 4.14% on the last trading day (Thursday, 18th Apr 2024), rising from $1.45 to $1.51. During the last trading day the stock fluctuated 5.19% from a day low at $1.45 to a day high of $1.52. The price has fallen in 5 of the last 10 days and is down by -2.89% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 82 thousand more shares were traded than the day before. In total, 174 thousand shares were bought and sold for approximately $262.50 thousand.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $1.45 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 5.05% during the next 3 months and, with a 90% probability hold a price between $1.52 and $1.84 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.
OFX.AX Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 4.14%. Further rise is indicated until a new top pivot has been found. OFX Group Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The OFX Group Limited 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 $1.57. On a fall, the stock will find some support from the short-term average at $1.50. 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).
Support, Risk & Stop-loss for OFX Group Limited stock
OFX Group Limited finds support from accumulated volume at $1.51 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0750 between high and low, or 5.19%. For the last week, the stock has had daily average volatility of 3.95%.
Our recommended stop-loss: $1.44 (-4.77%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (OFX.AX) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect OFX Group Limited to open at $1.49, and during the day (based on 14 day Average True Range), to move between $1.45 and $1.57, which gives a possible trading interval of +/-$0.0564 (+/-3.74%) up or down from last closing price. If OFX Group Limited takes out the full calculated possible swing range there will be an estimated 7.48% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.51 (0.33%) than the resistance at $1.63 (7.95%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is OFX Group Limited stock A Buy?
OFX Group Limited 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: -0.145 Hold/Accumulate Upgraded
Predicted Opening Price for OFX Group Limited of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $1.49 ( 1.21%) | $1.51 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OFX.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.57 | 3.75 % | |
| R2 | 1.54 | 1.86 % | ||
| R1 | 1.52 | 0.683 % | ||
| Current price: | 1.51 | |||
| Support | S1 | 1.46 | -3.11 % | |
| S2 | 1.45 | -4.28 % | ||
| S3 | 1.42 | -6.18 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.72 | 13.91 % | |
| R2 | 1.66 | 9.60 % | ||
| R1 | 1.63 | 7.95 % | ||
| Current price | 1.51 | |||
| Support | S1 | 1.51 | -0.331% | |
| S2 | 1.50 | -0.662% | ||
| S3 | 1.47 | -2.98% |
OFX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 25, 2020 | Nov 25, 2020 | Nov 25, 2020 | $0.0081 | 0.675% |
| 2 | May 19, 2020 | Jun 09, 2020 | Jun 22, 2020 | $0.0235 | 1.62% |
| 3 | Nov 12, 2019 | Nov 27, 2019 | Dec 13, 2019 | $0.0235 | 1.69% |
| 4 | May 20, 2019 | Jun 06, 2019 | Jun 21, 2019 | $0.0328 | 2.34% |
| 5 | Nov 20, 2018 | Nov 27, 2018 | Dec 14, 2018 | $0.0264 | 1.49% |
FAQ
Click here for our free guide on how to buy OFX Group Limited Stock.
