XTRA CORP Stock Forecast
High volatility in XTRA CORP stock price on Friday which ended trading at £1.00
(Updated on Apr 26, 2024)
The XTRA CORP stock price gained 8.11% on the last trading day (Friday, 26th Apr 2024), rising from £0.93 to £1.00. During the last trading day the stock fluctuated 18.92% from a day low at £0.93 to a day high of £1.10. The price has fallen in 5 of the last 10 days and is down by -2.44% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 540 thousand more shares were traded than the day before. In total, 671 thousand shares were bought and sold for approximately £671.21 thousand.
The stock lies in the middle of a very wide and 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 -8.42% during the next 3 months and, with a 90% probability hold a price between £0.751 and £0.98 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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XTR.L Signals & Forecast
The XTRA CORP 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 £0.99 and £0.96. A breakdown below any of these levels will issue sell signals. XTRA CORP 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. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, April 04, 2024, and so far it has fallen -9.09%. 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).
Support, Risk & Stop-loss for XTRA CORP stock
XTRA CORP finds support from accumulated volume at £0.98 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved £0.175 between high and low, or 18.92%. For the last week, the stock has had daily average volatility of 13.03%.
Our recommended stop-loss: £0.95 (-4.67%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 16 days ago.)
Trading Expectations (XTR.L) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect XTRA CORP to open at £1.01, and during the day (based on 14 day Average True Range), to move between £0.88 and £1.12, which gives a possible trading interval of +/-£0.123 (+/-12.30%) up or down from last closing price. If XTRA CORP takes out the full calculated possible swing range there will be an estimated 24.61% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £0.98 (2.50%) than the resistance at £1.05 (5.00%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is XTRA CORP stock A Buy?
XTRA CORP holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.554 Hold/Accumulate Upgraded
Predicted Opening Price for XTRA CORP of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| £1.01 ( 0.83%) | £1.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for XTR.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.18 | 18.33 % | |
| R2 | 1.12 | 11.65 % | ||
| R1 | 1.08 | 7.52 % | ||
| Current price: | 1.00 | |||
| Support | S1 | 0.94 | -5.85 % | |
| S2 | 0.90 | -9.98 % | ||
| S3 | 0.83 | -16.67 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.21 | 21.00 % | |
| R2 | 1.10 | 10.00 % | ||
| R1 | 1.05 | 5.00 % | ||
| Current price | 1.00 | |||
| Support | S1 | 0.98 | -2.50% | |
| S2 | 0.97 | -3.00% | ||
| S3 | 0.93 | -7.50% |
FAQ
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