Atlantica Yield plc Stock Forecast
Atlantica Yield plc stock price ended at $21.66 on Wednesday, after gaining 1.17%.
(Updated on May 08, 2024)
The Atlantica Yield plc stock price gained 1.17% on the last trading day (Wednesday, 8th May 2024), rising from $21.41 to $21.66. During the last trading day the stock fluctuated 5.87% from a day low at $20.77 to a day high of $21.99. The price has been going up and down for this period, and there has been a 6.12% gain for the last 2 weeks. Volume fell on the last day by -602 thousand shares and in total, 897 thousand shares were bought and sold for approximately $19.44 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $22.08 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 11.18% during the next 3 months and, with a 90% probability hold a price between $19.71 and $24.55 at the end of this 3-month period.
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AY Signals & Forecast
The Atlantica Yield plc 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 $21.20 and $19.07. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 Monday, May 06, 2024, and so far it has fallen -1.59%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Atlantica Yield plc stock
Atlantica Yield plc finds support from accumulated volume at $21.42 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $1.22 between high and low, or 5.87%. For the last week, the stock has had daily average volatility of 6.49%.
The Atlantica Yield plc stock is overbought on RSI14 and the RSI has been falling for the last couple of days. This together with the fact that the stock is in the upper part of the trend poses a possible good selling opportunity for the short-term trader. However, one should note that some stocks may go long and hard while being overbought. 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: $20.89 (-3.53%) (This stock has high daily movements and this gives high risk. The RSI14 is 77 and this increases the risk substantially. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (AY) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Atlantica Yield plc to open at $21.47, and during the day (based on 14 day Average True Range), to move between $20.72 and $22.60, which gives a possible trading interval of +/-$0.94 (+/-4.32%) up or down from last closing price. If Atlantica Yield plc takes out the full calculated possible swing range there will be an estimated 8.63% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $21.42 (1.11%) than the resistance at $22.01 (1.62%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Atlantica Yield plc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Atlantica Yield plc stock to perform well in the short-term.
Current score: 1.639 Buy Candidate Unchanged
Predicted Opening Price for Atlantica Yield plc of Thursday, May 9, 2024
Fair opening price May 9, 2024 | Current price |
---|---|
$21.47 ( 0.86%) | $21.66 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AY
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 22.69 | 4.77 % | |
R2 | 22.23 | 2.62 % | ||
R1 | 21.94 | 1.29 % | ||
Current price: | 21.66 | |||
Support | S1 | 21.01 | -3.01 % | |
S2 | 20.72 | -4.34 % | ||
S3 | 20.25 | -6.49 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 22.01 | 1.62 % | ||
Current price | 21.66 | |||
Support | S1 | 21.42 | -1.11% | |
S2 | 21.41 | -1.15% | ||
S3 | 19.91 | -8.08% |
AY Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 01, 2024 | Mar 11, 2024 | Mar 22, 2024 | $0.445 | 2.45% |
2 | Nov 07, 2023 | Nov 29, 2023 | Dec 15, 2023 | $0.445 | 2.10% |
3 | Jul 31, 2023 | Aug 30, 2023 | Sep 15, 2023 | $0.445 | 1.94% |
4 | May 04, 2023 | May 30, 2023 | Jun 15, 2023 | $0.445 | 1.85% |
5 | Feb 28, 2023 | Mar 13, 2023 | Mar 25, 2023 | $0.445 | 1.62% |
FAQ
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