Rakon Limited Stock Forecast
Red day on Wednesday for Rakon Limited
(Updated on Jun 26, 2024)
No changes to the price of Rakon Limited stock on the last trading day (Wednesday, 26th Jun 2024). During the last trading day the stock fluctuated 1.49% from a day low at $0.670 to a day high of $0.680. The price has fallen in 5 of the last 10 days and is down by -11.84% 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 -43.46% during the next 3 months and, with a 90% probability hold a price between $0.341 and $0.423 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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RAK.NZ Signals & Forecast
There are mixed signals in the stock today. The Rakon 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 $0.679 and $0.81. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Thursday, June 20, 2024, and so far it has risen 4.69%. 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 gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Rakon Limited stock
Rakon Limited finds support from accumulated volume at $0.660 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0100 between high and low, or 1.49%. For the last week, the stock has had daily average volatility of 3.36%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (RAK.NZ) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Rakon Limited to open at $0.673, and during the day (based on 14 day Average True Range), to move between $0.630 and $0.710, which gives a possible trading interval of +/-$0.0400 (+/-5.97%) up or down from last closing price. If Rakon Limited takes out the full calculated possible swing range there will be an estimated 11.93% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.660 (1.49%) than the resistance at $0.690 (2.99%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Rakon Limited stock A Buy?
Rakon Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -3.971 Sell Candidate Unchanged
Predicted Opening Price for Rakon Limited of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| $0.673 ( 0.498%) | $0.670 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RAK.NZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.683 | 1.99% |
| R2 | 0.680 | 1.42% |
| R1 | 0.677 | 1.07% |
| Price | 0.670 | |
| S1 | 0.670 | -0.0726% |
| S2 | 0.667 | -0.425% |
| S3 | 0.663 | -1.00% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.80 | 19.40% |
| R2 | 0.750 | 11.94% |
| R1 | 0.690 | 2.99% |
| Price | 0.670 | |
| S1 | 0.660 | -1.49% |
| S2 | 0.640 | -4.48% |
| S3 | 0 | - |
RAK Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 21, 2023 | Jul 21, 2023 | Jul 21, 2023 | $0.0150 | 1.90% |
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