RedFlow Limited Stock Forecast
Weaker technical forecast for RedFlow Limited as stock downgraded to Strong Sell Candidate.
(Updated on Jun 25, 2024)
No changes to the price of RedFlow Limited stock on the last trading day (Tuesday, 25th Jun 2024). During the last trading day the stock fluctuated 5.88% from a day low at $0.0850 to a day high of $0.0900. The price has fallen in 6 of the last 10 days and is down by -15% for this period.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.0842 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -32.53% during the next 3 months and, with a 90% probability hold a price between $0.0568 and $0.0725 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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RFX.AX Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The RedFlow 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 $0.0926 and $0.102. 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). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for RedFlow Limited stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0050 between high and low, or 5.88%. For the last week the stock has had daily average volatility of 7.81%.
RedFlow Limited is oversold on RSI14 (19). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (RFX.AX) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect RedFlow Limited to open at $0.0867, and during the day (based on 14 day Average True Range), to move between $0.0797 and $0.0903, which gives a possible trading interval of +/-$0.0053 (+/-6.26%) up or down from last closing price. If RedFlow Limited takes out the full calculated possible swing range there will be an estimated 12.51% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.0900, some $0.0050 (5.88%) from the current price of $0.0850, our system finds the risk reward not very attractive.
Is RedFlow Limited stock A Buy?
RedFlow Limited holds several negative signals and is within a very 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 Sell to a Strong Sell candidate.
Current score: -5.092 Strong Sell Candidate Downgraded
Predicted Opening Price for RedFlow Limited of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $0.0867 ( 1.96%) | $0.0850 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RFX.AX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0917 | 7.84% |
| R2 | 0.0898 | 5.60% |
| R1 | 0.0886 | 4.21% |
| Price | 0.0850 | |
| S1 | 0.0848 | -0.286% |
| S2 | 0.0836 | -1.67% |
| S3 | 0.0817 | -3.92% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.105 | 23.53% |
| R2 | 0.100 | 17.65% |
| R1 | 0.0900 | 5.88% |
| Price | 0.0850 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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