Incitec Pivot Ltd Adr Stock Forecast

Incitec Pivot Ltd Adr stock price ended at $1.74 on Wednesday, after gaining 2.66%.
(Updated on Apr 24, 2024)

INCZY Signals & Forecast

There are mixed signals in the stock today. The Incitec Pivot Ltd Adr stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $1.79. On a fall, the stock will find some support from the short-term average at $1.72. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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. A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 2.66%. Further rise is indicated until a new top pivot has been found.

Buy

Special Signal Notification

Double Bottom Formation

A buy signal from a double bottom formation was found on Friday, March 08, 2024 and based on theory for this formation the price should go up by 18.26% to $2.05 within 20 trading days since signal was issued (Thursday, April 25, 2024).

Support, Risk & Stop-loss for Incitec Pivot Ltd Adr stock

Incitec Pivot Ltd Adr finds support from accumulated volume at $1.73 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.153 between high and low, or 9.50%. For the last week the stock has had daily average volatility of 5.56%.

Incitec Pivot Ltd Adr is oversold on RSI14 (29). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (INCZY) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect Incitec Pivot Ltd Adr to open at $1.70, and during the day (based on 14 day Average True Range), to move between $1.59 and $1.88, which gives a possible trading interval of +/-$0.148 (+/-8.55%) up or down from last closing price. If Incitec Pivot Ltd Adr takes out the full calculated possible swing range there will be an estimated 17.10% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $1.74 (0.29%) than the support at $1.73 (0.29%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Incitec Pivot Ltd Adr stock A Buy?

Incitec Pivot Ltd Adr holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -1.733 Sell Candidate Unchanged

Predicted Opening Price for Incitec Pivot Ltd Adr of Thursday, April 25, 2024

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