Xreality Group Limited Stock Forecast

Green day on Friday for Xreality Group Limited
(Updated on Jun 28, 2024)

XRG.AX Signals & Forecast

Mostly positive signals in the chart today. The Xreality Group Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.0491 and $0.0396. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 89.66%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Xreality Group Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Xreality Group Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.0480 and $0.0470. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Xreality Group Limited finds support just below today's level at $0.0480. If this is broken, then the next support from accumulated volume will be at $0.0470 and $0.0460.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0040 between high and low, or 7.69%. For the last week, the stock has had daily average volatility of 5.82%.

Our recommended stop-loss: $0.0531 (-3.52%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 51 days ago.)

Trading Expectations (XRG.AX) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Xreality Group Limited to open at $0.0543, and during the day (based on 14 day Average True Range), to move between $0.0519 and $0.0581, which gives a possible trading interval of +/-$0.0031 (+/-5.55%) up or down from last closing price. If Xreality Group Limited takes out the full calculated possible swing range there will be an estimated 11.09% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $0.0480, some $0.0070 (12.73%) from the current price of $0.0550, our system finds the risk reward attractive.

Is Xreality Group Limited stock A Buy?

Xreality Group Limited holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.

Current score: 7.275 Strong Buy Candidate Unchanged

Predicted Opening Price for Xreality Group Limited of Monday, July 1, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.