Xero Limited Stock Forecast
Xero Limited stock price ended at $125.36 on Friday, after losing 0.350%.
(Updated on May 10, 2024)
The Xero Limited stock price fell by -0.350% on the last day (Friday, 10th May 2024) from $125.80 to $125.36. During the last trading day the stock fluctuated 1.25% from a day low at $125.30 to a day high of $126.86. The price has risen in 8 of the last 10 days and is up by 4.26% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -84 thousand shares and in total, 179 thousand shares were bought and sold for approximately $22.49 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Xero Limited stock with a 90% probability to be traded between $117.74 and $139.43 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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XRO.AX Signals & Forecast
The Xero Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $125.75. On a fall, the stock will find some support from the long-term average at approximately $125.14. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 7.32%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Xero Limited stock
Xero Limited finds support from accumulated volume at $125.01 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.56 (1.25%) between high and low. For the last week, the stock has had daily average volatility of 1.45%.
Our recommended stop-loss: $119.59 (-4.60%) (This stock has low daily movements and this gives low risk. The RSI14 is 76 and this increases the risk substantially. There is a buy signal from a pivot bottom found 14 days ago.)
Trading Expectations (XRO.AX) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Xero Limited to open at $125.84, and during the day (based on 14 day Average True Range), to move between $122.74 and $127.98, which gives a possible trading interval of +/-$2.62 (+/-2.09%) up or down from last closing price. If Xero Limited takes out the full calculated possible swing range there will be an estimated 4.18% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $125.01 (0.28%) than the resistance at $127.00 (1.31%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Xero Limited will release earnings BMO on Thursday, May 16, 2024. We will update the financials statements for Xero Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.87% in the first trading day after earnings release.
Is Xero Limited stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Xero Limited stock to perform well in the short-term period.
Current score: 3.219 Buy Candidate Unchanged
Predicted Opening Price for Xero Limited of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| $125.84 ( 0.383%) | $125.36 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for XRO.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 127.40 | 1.63 % | |
| R2 | 126.80 | 1.15 % | ||
| R1 | 126.44 | 0.86 % | ||
| Current price: | 125.36 | |||
| Support | S1 | 125.24 | -0.0925 % | |
| S2 | 124.88 | -0.386 % | ||
| S3 | 124.28 | -0.86 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 135.15 | 7.81 % | |
| R2 | 134.93 | 7.63 % | ||
| R1 | 127.00 | 1.31 % | ||
| Current price | 125.36 | |||
| Support | S1 | 125.01 | -0.279% | |
| S2 | 121.96 | -2.71% | ||
| S3 | 118.02 | -5.86% |
FAQ
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