Scentre Group Stock Forecast
Scentre Group stock upgraded from Strong Sell Candidate to Sell Candidate after Friday trading session.
(Updated on Jun 28, 2024)
The Scentre Group stock price gained 0.322% on the last trading day (Friday, 28th Jun 2024), rising from $3.11 to $3.12. During the last trading day the stock fluctuated 1.92% from a day low at $3.12 to a day high of $3.18. The price has risen in 6 of the last 10 days. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 939 thousand more shares were traded than the day before. In total, 15 million shares were bought and sold for approximately $45.35 million.
The stock 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 stock is expected to fall -3.19% during the next 3 months and, with a 90% probability hold a price between $2.92 and $3.13 at the end of this 3-month period.
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SCG.AX Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Scentre Group stock 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 $3.17 and $3.16. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, June 25, 2024, and so far it has fallen -3.70%. Further fall is indicated until a new bottom pivot has been found. The stock had a Golden Star Signal on Tuesday, August 29, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Tuesday, August 29, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Scentre Group stock
Scentre Group finds support from accumulated volume at $3.11 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.0600 between high and low, or 1.92%. For the last week the stock has had daily average volatility of 1.85%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SCG.AX) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Scentre Group to open at $3.14, and during the day (based on 14 day Average True Range), to move between $3.06 and $3.18, which gives a possible trading interval of +/-$0.0630 (+/-2.02%) up or down from last closing price. If Scentre Group takes out the full calculated possible swing range there will be an estimated 4.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.11 (0.32%) than the resistance at $3.15 (0.96%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Scentre Group stock A Buy?
Scentre Group 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 stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -2.245 Sell Candidate Upgraded
Predicted Opening Price for Scentre Group of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $3.14 ( 0.641%) | $3.12 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SCG.AX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.20 | 2.56% |
| R2 | 3.18 | 1.83% |
| R1 | 3.16 | 1.38% |
| Price | 3.12 | |
| S1 | 3.12 | -0.0936% |
| S2 | 3.10 | -0.547% |
| S3 | 3.08 | -1.28% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.17 | 1.60% |
| R2 | 3.16 | 1.28% |
| R1 | 3.15 | 0.96% |
| Price | 3.12 | |
| S1 | 3.11 | -0.321% |
| S2 | 3.10 | -0.641% |
| S3 | 3.09 | -0.96% |
SCG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 15, 2024 | Feb 15, 2024 | Feb 29, 2024 | $0.0835 | 2.68% |
| 2 | Aug 17, 2023 | Aug 17, 2023 | Aug 17, 2023 | $0.0825 | 3.10% |
| 3 | Feb 16, 2023 | Feb 16, 2023 | Feb 16, 2023 | $0.0825 | 2.78% |
| 4 | Aug 15, 2022 | Aug 15, 2022 | Aug 15, 2022 | $0.0750 | 2.60% |
| 5 | Feb 14, 2022 | Feb 14, 2022 | Feb 14, 2022 | $0.0725 | 2.46% |
FAQ
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