Astrazeneca PLC Stock Forecast
Green day on Friday for Astrazeneca PLC
(Updated on May 31, 2024)
The Astrazeneca PLC stock price gained 1.63% on the last trading day (Friday, 31st May 2024), rising from $76.77 to $78.02. During the last trading day the stock fluctuated 1.34% from a day low at $77.09 to a day high of $78.12. The price has been going up and down for this period, and there has been a 1.27% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately $328.44 million.
The stock lies in the middle of a strong 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 23.56% during the next 3 months and, with a 90% probability hold a price between $93.62 and $99.99 at the end of this 3-month period.
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AZN Signals & Forecast
The Astrazeneca 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 $77.57 and $74.92. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Tuesday, May 21, 2024, and so far it has fallen -1.47%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The stock had a Golden Star Signal on Wednesday, March 06, 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, March 06, 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 Astrazeneca PLC stock
Astrazeneca PLC finds support from accumulated volume at $75.03 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 $1.03 between high and low, or 1.34%. For the last week the stock has had daily average volatility of 1.15%.
Our recommended stop-loss: $73.97 (-5.19%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 64 days ago.)
Trading Expectations (AZN) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Astrazeneca PLC to open at $77.74, and during the day (based on 14 day Average True Range), to move between $76.98 and $79.06, which gives a possible trading interval of +/-$1.04 (+/-1.33%) up or down from last closing price. If Astrazeneca PLC takes out the full calculated possible swing range there will be an estimated 2.67% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $78.54 (0.67%) than the support at $75.03 (3.83%), 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 Astrazeneca 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 Astrazeneca PLC stock to perform well in the short-term.
Current score: 4.026 Buy Candidate Unchanged
Predicted Opening Price for Astrazeneca PLC of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| $77.74 ( 0.355%) | $78.02 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AZN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 78.77 | 0.97 % | |
| R2 | 78.38 | 0.461 % | ||
| R1 | 78.14 | 0.150 % | ||
| Current price: | 78.02 | |||
| Support | S1 | 77.35 | -0.86 % | |
| S2 | 77.11 | -1.17 % | ||
| S3 | 76.71 | -1.67 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 79.18 | 1.49 % | |
| R2 | 78.80 | 1.00 % | ||
| R1 | 78.54 | 0.666 % | ||
| Current price | 78.02 | |||
| Support | S1 | 75.03 | -3.83% | |
| S2 | 68.26 | -12.51% | ||
| S3 | 66.19 | -15.16% |
AZN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 08, 2024 | Feb 22, 2024 | Mar 25, 2024 | $0.99 | 1.50% |
| 2 | Jul 28, 2023 | Aug 10, 2023 | Sep 11, 2023 | $0.465 | 0.698% |
| 3 | Feb 09, 2023 | Feb 23, 2023 | Mar 27, 2023 | $0.99 | 1.43% |
| 4 | Aug 01, 2022 | Aug 11, 2022 | Sep 12, 2022 | $0.465 | 0.753% |
| 5 | Feb 11, 2022 | Feb 24, 2022 | Mar 28, 2022 | $0.99 | 1.51% |
FAQ
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