Task Group Holdings Limited Stock Forecast
Red day on Tuesday for Task Group Holdings Limited stock after losing 0%
(Updated on Jun 25, 2024)
No changes to the price of Task Group Holdings Limited stock on the last trading day (Tuesday, 25th Jun 2024). During the last trading day the stock fluctuated 0.96% from a day low at $0.83 to a day high of $0.84. The price has fallen in 4 of the last 10 days but is still up by 1.83% over the past 2 weeks.
The stock lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.82 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 5.87% during the next 3 months and, with a 90% probability hold a price between $0.87 and $0.93 at the end of this 3-month period.
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TSK.AX Signals & Forecast
The volume rose on the last day while price remained unchanged. This may be an early warning and the stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Task Group Holdings Limited 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 $0.85 and $0.84. 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 18, 2024, and so far it has fallen -3.47%. 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).
A sell signal from a double top formation was found on Tuesday, June 18, 2024 and based on theory for this formation the price should fall by -6.67% to $0.779 within 14 trading days since signal was issued (Monday, July 08, 2024).
Support, Risk & Stop-loss for Task Group Holdings Limited stock
Task Group Holdings Limited finds support from accumulated volume at $0.82 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 $0.0080 between high and low, or 0.96%. For the last week the stock has had daily average volatility of 1.14%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TSK.AX) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Task Group Holdings Limited to open at $0.84, and during the day (based on 14 day Average True Range), to move between $0.82 and $0.85, which gives a possible trading interval of +/-$0.0121 (+/-1.45%) up or down from last closing price. If Task Group Holdings Limited takes out the full calculated possible swing range there will be an estimated 2.90% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.84 (0.60%) than the support at $0.82 (1.80%), 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 Task Group Holdings Limited stock A Buy?
The Task Group Holdings Limited stock holds several negative signals and despite the positive trend, we believe Task Group Holdings Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.725 Sell Candidate Unchanged
Predicted Opening Price for Task Group Holdings Limited of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $0.84 ( 0.0798%) | $0.84 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TSK.AX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.84 | 1.04% |
| R2 | 0.84 | 0.672% |
| R1 | 0.84 | 0.446% |
| Price | 0.84 | |
| S1 | 0.83 | -0.286% |
| S2 | 0.83 | -0.512% |
| S3 | 0.83 | -0.88% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.86 | 2.40% |
| R2 | 0.85 | 1.80% |
| R1 | 0.84 | 0.599% |
| Price | 0.84 | |
| S1 | 0.82 | -1.80% |
| S2 | 0.82 | -2.40% |
| S3 | 0.80 | -4.19% |
FAQ
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