Reedy Lagoon Corp Ltd Stock Forecast
Reedy Lagoon Corp Ltd stock downgraded from Hold/Accumulate to Sell Candidate after Tuesday trading session.
(Updated on Jun 18, 2024)
No changes to the price of Reedy Lagoon Corp Ltd stock on the last trading day (Tuesday, 18th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at A$0.0030 to a day high of A$0.0030. The price has been going up and down for this period, and there has been a -25% loss for the last 2 weeks.
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 A$0.0028 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -6.80% during the next 3 months and, with a 90% probability hold a price between A$0.0026 and A$0.0037 at the end of this 3-month period.
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RLC.AX Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 17, 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 Reedy Lagoon Corp Ltd 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 A$0.0037 and A$0.0040. 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 Reedy Lagoon Corp Ltd 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.
In general the stock 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 stock During the last day, the stock moved A$0 between high and low, or 0%. For the last week the stock has had daily average volatility of 6.67%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (RLC.AX) For The Upcoming Trading Day Of Wednesday 19th
For the upcoming trading day on Wednesday, 19th we expect Reedy Lagoon Corp Ltd to open at A$0.0030, and during the day (based on 14 day Average True Range), to move between A$0.0027 and A$0.0033, which gives a possible trading interval of +/-A$0.0003 (+/-10.95%) up or down from last closing price. If Reedy Lagoon Corp Ltd takes out the full calculated possible swing range there will be an estimated 21.91% move between the lowest and the highest trading price during the day.
Is Reedy Lagoon Corp Ltd stock A Buy?
Reedy Lagoon Corp Ltd 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 Hold/Accumulate to a Sell candidate.
Current score: -3.201 Sell Candidate Downgraded
Predicted Opening Price for Reedy Lagoon Corp Ltd of Wednesday, June 19, 2024
| Fair opening price June 19, 2024 | Current price |
|---|---|
| A$0.0030 ( 0.00000000%) | A$0.0030 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RLC.AX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0030 | 0.00000000% |
| R2 | 0.0030 | 0.00000000% |
| R1 | 0.0030 | 0.00000000% |
| Price | 0.0030 | |
| S1 | 0.0030 | 0.00000000% |
| S2 | 0.0030 | 0.00000000% |
| S3 | 0.0030 | 0.00000000% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 0.0030 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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