Banco Santander SA Stock Forecast
Green day on Tuesday for Banco Santander SA stock after gaining 2.67%
(Updated on Apr 23, 2024)
The Banco Santander SA stock price gained 2.67% on the last trading day (Tuesday, 23rd Apr 2024), rising from $4.86 to $4.99. During the last trading day the stock fluctuated 1.20% from a day low at $4.98 to a day high of $5.04. The price has fallen in 5 of the last 10 days but is still up by 1.42% 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, 3 million more shares were traded than the day before. In total, 11 million shares were bought and sold for approximately $53.71 million.
The stock lies in the middle of a wide and 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 28.50% during the next 3 months and, with a 90% probability hold a price between $5.99 and $6.66 at the end of this 3-month period.
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SAN Signals & Forecast
The Banco Santander SA 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 $4.75 and $4.65. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 9.19%. 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 Banco Santander SA stock
On the downside, the stock finds support just below today's level from accumulated volume at $4.09 and $4.00. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Banco Santander SA finds support just below today's level at $4.09. If this is broken, then the next support from accumulated volume will be at $4.00 and $3.94.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.0599 (1.20%) between high and low. For the last week, the stock has had daily average volatility of 1.29%.
Our recommended stop-loss: $4.79 (-3.92%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (SAN) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Banco Santander SA to open at $5.00, and during the day (based on 14 day Average True Range), to move between $4.88 and $5.10, which gives a possible trading interval of +/-$0.108 (+/-2.16%) up or down from last closing price. If Banco Santander SA takes out the full calculated possible swing range there will be an estimated 4.32% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $4.09, some $0.90 (18.04%) from the current price of $4.99, our system finds the risk reward attractive.
Is Banco Santander SA stock A Buy?
Banco Santander SA holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 6.784 Strong Buy Candidate Unchanged
Predicted Opening Price for Banco Santander SA of Wednesday, April 24, 2024
Fair opening price April 24, 2024 | Current price |
---|---|
$5.00 ( 0.267%) | $4.99 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SAN
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 5.06 | 1.47 % | |
R2 | 5.04 | 1.01 % | ||
R1 | 5.03 | 0.725 % | ||
Current price: | 4.99 | |||
Support | S1 | 4.98 | -0.192 % | |
S2 | 4.97 | -0.475 % | ||
S3 | 4.94 | -0.93 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 4.99 | |||
Support | S1 | 4.09 | -18.04% | |
S2 | 4.00 | -19.84% | ||
S3 | 3.94 | -21.04% |
SAN Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 29, 2024 | Apr 29, 2024 | May 07, 2024 | $0.103 | 2.06% |
2 | Oct 13, 2023 | Oct 31, 2023 | Nov 07, 2023 | $0.0850 | 2.28% |
3 | Mar 03, 2023 | Apr 27, 2023 | May 05, 2023 | $0.0630 | 1.83% |
4 | Oct 06, 2022 | Oct 31, 2022 | May 05, 2023 | $0.0560 | 1.62% |
5 | Mar 23, 2022 | Apr 28, 2022 | May 05, 2022 | $0.0570 | 2.02% |
FAQ
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