Ram Essential Services Property Fund Trust Forecast
Stronger technical forecast for Ram Essential Services Property Fund trust price after Friday trading.
(Updated on Jun 28, 2024)
The Ram Essential Services Property Fund trust price gained 1.65% on the last trading day (Friday, 28th Jun 2024), rising from $0.605 to $0.615. During the last trading day the trust fluctuated 2.46% from a day low at $0.610 to a day high of $0.625. The price has risen in 5 of the last 10 days and is up by 2.5% over the past 2 weeks. Volume fell on the last day by -866 thousand shares and in total, 724 thousand shares were bought and sold for approximately $445.22 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The trust lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the trust is expected to fall -6.01% during the next 3 months and, with a 90% probability hold a price between $0.558 and $0.602 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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REP.AX Signals & Forecast
There are few to no technical positive signals at the moment. The Ram Essential Services Property Fund trust holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $0.625 and $0.622. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, June 20, 2024, and so far it has fallen -4.65%. 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 fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Ram Essential Services Property Fund trust
Ram Essential Services Property Fund finds support from accumulated volume at $0.610 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the trust tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the trust During the last day, the trust moved $0.0150 between high and low, or 2.46%. For the last week the trust has had daily average volatility of 2.51%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (REP.AX) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Ram Essential Services Property Fund to open at $0.617, and during the day (based on 14 day Average True Range), to move between $0.598 and $0.632, which gives a possible trading interval of +/-$0.0169 (+/-2.75%) up or down from last closing price. If Ram Essential Services Property Fund takes out the full calculated possible swing range there will be an estimated 5.51% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.620 (0.81%) than the support at $0.610 (0.81%), 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 Ram Essential Services Property Fund trust A Buy?
Ram Essential Services Property Fund holds several negative signals and is within a 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 trust. We have upgraded our analysis conclusion for this trust since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -3.888 Sell Candidate Upgraded
Predicted Opening Price for Ram Essential Services Property Fund of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $0.617 ( 0.271%) | $0.615 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for REP.AX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.632 | 2.71% |
| R2 | 0.626 | 1.78% |
| R1 | 0.622 | 1.20% |
| Price | 0.615 | |
| S1 | 0.611 | -0.661% |
| S2 | 0.607 | -1.24% |
| S3 | 0.602 | -2.17% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.630 | 2.44% |
| R2 | 0.625 | 1.63% |
| R1 | 0.620 | 0.81% |
| Price | 0.615 | |
| S1 | 0.610 | -0.81% |
| S2 | 0.605 | -1.63% |
| S3 | 0.600 | -2.44% |
FAQ
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