All Ordinaries Index Forecast
All Ordinaries index price up 0.137% on Friday
(Updated on Jun 28, 2024)
The All Ordinaries index price gained 0.137% on the last trading day (Friday, 28th Jun 2024), rising from A$8,002.80 to A$8,013.80. During the last trading day the index fluctuated 0.793% from a day low at A$7,998.50 to a day high of A$8,061.90. The price has been going up and down for this period, and there has been a 0.49% gain for the last 2 weeks.
The index is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect All Ordinaries index with a 90% probability to be traded between A$7,837.21 and A$8,166.90 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 indices seldom manage to go directly from the bottom of a trend up to the top. Indices turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
^AORD Signals & Forecast
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. The All Ordinaries index holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at A$8,020.50 and A$8,029.83. 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 -0.781%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. The index had a Golden Star Signal on Wednesday, June 19, 2024 in the short-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 index in question.
Golden Star
The index had a Golden Star Signal on Wednesday, June 19, 2024 in the short-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 index in question.
A sell signal from a double top formation was found on Saturday, June 08, 2024 and based on theory for this formation the price should fall by -2.63% to A$7,803.06 within 20 trading days since signal was issued (Monday, July 08, 2024).
Support, Risk & Stop-loss for All Ordinaries index
All Ordinaries finds support from accumulated volume at A$7,970.80 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the index tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the index During the last day, the index moved A$63.40 between high and low, or 0.793%. For the last week the index has had daily average volatility of 1.12%
Our recommended stop-loss: A$7,722.75 (-3.63%) (This index has low daily movements and this gives low risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (^AORD) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect All Ordinaries to open at A$8,024.73, and during the day (based on 14 day Average True Range), to move between A$7,945.77 and A$8,081.83, which gives a possible trading interval of +/-A$68.03 (+/-0.85%) up or down from last closing price. If All Ordinaries takes out the full calculated possible swing range there will be an estimated 1.70% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at A$7,970.80 (0.54%) than the resistance at A$8,082.30 (0.85%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is All Ordinaries index A Buy?
All Ordinaries holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for All Ordinaries of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| A$8,024.73 ( 0.136%) | A$8,013.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ^AORD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 8,088.13 | 0.93% |
| R2 | 8,063.91 | 0.625% |
| R1 | 8,048.95 | 0.439% |
| Price | 8,013.80 | |
| S1 | 8,000.51 | -0.166% |
| S2 | 7,985.55 | -0.352% |
| S3 | 7,961.33 | -0.655% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 8,132.10 | 1.48% |
| R2 | 8,120.20 | 1.33% |
| R1 | 8,082.30 | 0.85% |
| Price | 8,013.80 | |
| S1 | 7,970.80 | -0.537% |
| S2 | 7,862.30 | -1.89% |
| S3 | 7,817.40 | -2.45% |
FAQ
Click here for our free guide on how to buy All Ordinaries Index.
