Origin Energy Limited Stock Forecast
Origin Energy Limited stock price ended at $9.93 on Friday, after losing 0.201%.
(Updated on May 10, 2024)
The Origin Energy Limited stock price fell by -0.201% on the last day (Friday, 10th May 2024) from $9.95 to $9.93. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 1.83% from a day low at $9.81 to a day high of $9.99. The price has been going up and down for this period, and there has been a 2.27% gain for the last 2 weeks. Volume has increased on the last day by 295 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 3 million shares were bought and sold for approximately $31.47 million.
The stock lies in the middle of a narrow and strong 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 15.74% during the next 3 months and, with a 90% probability hold a price between $11.27 and $11.72 at the end of this 3-month period.
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ORG.AX Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Tuesday, May 07, 2024, and so far it has fallen -1.29%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The Origin Energy 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 $9.86 and $9.56. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Origin Energy Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at $9.12 and $8.86. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Origin Energy Limited finds support just below today's level at $9.12. If this is broken, then the next support from accumulated volume will be at $8.86 and $8.78.
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 $0.180 between high and low, or 1.83%. For the last week the stock has had daily average volatility of 1.93%.
Our recommended stop-loss: $9.61 (-3.26%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (ORG.AX) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Origin Energy Limited to open at $9.91, and during the day (based on 14 day Average True Range), to move between $9.77 and $10.09, which gives a possible trading interval of +/-$0.157 (+/-1.58%) up or down from last closing price. If Origin Energy Limited takes out the full calculated possible swing range there will be an estimated 3.16% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $9.95 (0.20%) than the support at $9.12 (8.16%), 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 Origin Energy 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 Origin Energy Limited stock to perform well in the short-term.
Current score: 3.877 Buy Candidate Unchanged
Predicted Opening Price for Origin Energy Limited of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| $9.91 ( 0.201%) | $9.93 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ORG.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.09 | 1.61 % | |
| R2 | 10.02 | 0.92 % | ||
| R1 | 9.98 | 0.491 % | ||
| Current price: | 9.93 | |||
| Support | S1 | 9.84 | -0.89 % | |
| S2 | 9.80 | -1.32 % | ||
| S3 | 9.73 | -2.01 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.06 | 1.31 % | |
| R2 | 10.05 | 1.21 % | ||
| R1 | 9.95 | 0.201 % | ||
| Current price | 9.93 | |||
| Support | S1 | 9.12 | -8.16% | |
| S2 | 8.86 | -10.78% | ||
| S3 | 8.78 | -11.58% |
ORG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 05, 2024 | Mar 05, 2024 | Mar 28, 2024 | $0.275 | 2.99% |
| 2 | Jan 12, 2024 | Jan 12, 2024 | Jan 12, 2024 | $0 | 0% |
| 3 | Nov 29, 2023 | Nov 29, 2023 | Nov 29, 2023 | $0 | 0% |
| 4 | Feb 28, 2023 | Feb 28, 2023 | Feb 28, 2023 | $0.165 | 2.06% |
| 5 | Sep 06, 2022 | Sep 06, 2022 | Sep 06, 2022 | $0.165 | 2.78% |
FAQ
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