Aflac Incorporated Stock Forecast
Aflac Incorporated stock downgraded from Buy Candidate to Hold/Accumulate after Friday trading session.
(Updated on Apr 19, 2024)
The Aflac Incorporated stock price gained 2.78% on the last trading day (Friday, 19th Apr 2024), rising from $80.98 to $83.23. During the last trading day the stock fluctuated 3.15% from a day low at $80.99 to a day high of $83.55. The price has fallen in 6 of the last 10 days and is down by -2.56% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 474 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $210.97 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 3.29% during the next 3 months and, with a 90% probability hold a price between $81.18 and $89.37 at the end of this 3-month period.
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AFL Signals & Forecast
The Aflac Incorporated stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $80.73 and $83.17. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 11, 2024, and so far it has risen 4.51%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Aflac Incorporated stock
Aflac Incorporated finds support from accumulated volume at $80.43 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 $2.56 between high and low, or 3.15%. For the last week, the stock has had daily average volatility of 1.85%.
Our recommended stop-loss: $79.15 (-4.90%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (AFL) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Aflac Incorporated to open at $82.59, and during the day (based on 14 day Average True Range), to move between $81.76 and $84.70, which gives a possible trading interval of +/-$1.47 (+/-1.76%) up or down from last closing price. If Aflac Incorporated takes out the full calculated possible swing range there will be an estimated 3.52% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $84.34 (1.33%) than the support at $80.43 (3.36%), 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.
Earnings coming up
Aflac Incorporated will release earnings BMO on Wednesday, April 24, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.58. We will update the financials statements for Aflac Incorporated, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 1.78% in the first trading day after earnings release.
Is Aflac Incorporated stock A Buy?
Aflac Incorporated 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.756 Hold/Accumulate Downgraded
Predicted Opening Price for Aflac Incorporated of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $82.59 ( 0.771%) | $83.23 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AFL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 85.14 | 2.30 % | |
| R2 | 84.17 | 1.13 % | ||
| R1 | 83.56 | 0.402 % | ||
| Current price: | 83.23 | |||
| Support | S1 | 81.61 | -1.94 % | |
| S2 | 81.01 | -2.67 % | ||
| S3 | 80.03 | -3.84 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 85.86 | 3.16 % | |
| R2 | 84.37 | 1.37 % | ||
| R1 | 84.34 | 1.33 % | ||
| Current price | 83.23 | |||
| Support | S1 | 80.43 | -3.36% | |
| S2 | 76.82 | -7.70% | ||
| S3 | 76.20 | -8.45% |
AFL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 01, 2023 | Feb 20, 2024 | Mar 01, 2024 | $0.500 | 0.622% |
| 2 | Nov 01, 2023 | Nov 14, 2023 | Dec 01, 2023 | $0.420 | 0.508% |
| 3 | Jul 31, 2023 | Aug 22, 2023 | Sep 01, 2023 | $0.420 | 0.562% |
| 4 | Apr 26, 2023 | May 16, 2023 | Jun 01, 2023 | $0.420 | 0.649% |
| 5 | Nov 08, 2022 | Feb 14, 2023 | Mar 01, 2023 | $0.420 | 0.617% |
FAQ
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