Aberdeen Asia-Pacific Income Fund, Inc Stock Forecast
Green day on Thursday for Aberdeen Asia-Pacific Income Fund, Inc stock after gaining 1.08%
(Updated on Mar 28, 2024)
The Aberdeen Asia-Pacific Income Fund, Inc stock price gained 1.08% on the last trading day (Thursday, 28th Mar 2024), rising from $2.77 to $2.80. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.45% from a day low at $2.76 to a day high of $2.80. The price has risen in 5 of the last 10 days and is up by 2.94% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 659 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $3.04 million.
The stockis at the upper part of a horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $2.82 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Aberdeen Asia-Pacific Income Fund, Inc stock with a 90% probability to be traded between $2.66 and $2.85 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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FAX Signals & Forecast
Mostly positive signals in the chart today. The Aberdeen Asia-Pacific Income Fund, Inc 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 $2.75 and $2.71. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 06, 2024, and so far it has risen 4.48%. 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). Volume is rising along with the price. This is considered to be a good technical signal. The stock had a Golden Star Signal on Wednesday, February 28, 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 stock in question.
Golden Star
The stock had a Golden Star Signal on Wednesday, February 28, 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 stock in question.
Support, Risk & Stop-loss for Aberdeen Asia-Pacific Income Fund, Inc stock
Aberdeen Asia-Pacific Income Fund, Inc finds support from accumulated volume at $2.68 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 $0.0400 between high and low, or 1.45%. For the last week the stock has had daily average volatility of 1.02%.
The Aberdeen Asia-Pacific Income Fund, Inc stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $2.66 (-5.06%) (This stock has low daily movements and this gives low risk. The RSI14 is 79 and this increases the risk substantially. There is a buy signal from a pivot bottom found 16 days ago.)
Trading Expectations (FAX) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Aberdeen Asia-Pacific Income Fund, Inc to open at $2.79, and during the day (based on 14 day Average True Range), to move between $2.77 and $2.83, which gives a possible trading interval of +/-$0.0343 (+/-1.23%) up or down from last closing price. If Aberdeen Asia-Pacific Income Fund, Inc takes out the full calculated possible swing range there will be an estimated 2.45% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $2.68, some $0.120 (4.29%) from the current price of $2.80, our system finds the risk reward attractive.
Is Aberdeen Asia-Pacific Income Fund, Inc 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 Aberdeen Asia-Pacific Income Fund, Inc stock to perform well in the short-term period.
Current score: 3.703 Buy Candidate Unchanged
Predicted Opening Price for Aberdeen Asia-Pacific Income Fund, Inc of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$2.79 ( 0.476%) | $2.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FAX
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.83 | 0.95 % | |
R2 | 2.81 | 0.407 % | ||
R1 | 2.80 | 0.0695 % | ||
Current price: | 2.80 | |||
Support | S1 | 2.77 | -1.02 % | |
S2 | 2.76 | -1.36 % | ||
S3 | 2.75 | -1.90 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 2.80 | |||
Support | S1 | 2.68 | -4.29% | |
S2 | 2.67 | -4.64% | ||
S3 | 2.65 | -5.36% |
FAX Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 20, 2024 | Mar 20, 2024 | Mar 28, 2024 | $0.0275 | 0.98% |
2 | Feb 09, 2024 | Feb 21, 2024 | Feb 29, 2024 | $0.0275 | 1.02% |
3 | Jan 10, 2024 | Jan 23, 2024 | Jan 31, 2024 | $0.0275 | 1.04% |
4 | Dec 11, 2023 | Dec 28, 2023 | Jan 10, 2024 | $0.0275 | 1.00% |
5 | Nov 09, 2023 | Nov 21, 2023 | Nov 30, 2023 | $0.0280 | 1.05% |
FAQ
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