Credicorp Ltd Stock Forecast
Credicorp Ltd stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on May 03, 2024)
The Credicorp Ltd stock price gained 2.38% on the last trading day (Friday, 3rd May 2024), rising from $164.72 to $168.64. During the last trading day the stock fluctuated 2.54% from a day low at $165.66 to a day high of $169.87. The price has fallen in 6 of the last 10 days but is still up by 2.19% 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, 44 thousand more shares were traded than the day before. In total, 210 thousand shares were bought and sold for approximately $35.34 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 2.54% during the next 3 months and, with a 90% probability hold a price between $164.65 and $184.39 at the end of this 3-month period.
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BAP Signals & Forecast
Mostly positive signals in the chart today. The Credicorp Ltd 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 $166.65 and $168.59. 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 5.64%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Credicorp Ltd stock
Credicorp Ltd finds support from accumulated volume at $167.06 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $4.21 (2.54%) between high and low. For the last week, the stock has had daily average volatility of 1.96%.
Our recommended stop-loss: $160.56 (-4.79%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (BAP) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Credicorp Ltd to open at $168.06, and during the day (based on 14 day Average True Range), to move between $165.10 and $172.18, which gives a possible trading interval of +/-$3.54 (+/-2.10%) up or down from last closing price. If Credicorp Ltd takes out the full calculated possible swing range there will be an estimated 4.19% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $170.00 (0.81%) than the support at $167.06 (0.94%), 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
Credicorp Ltd will release earnings AMC on Thursday, May 09, 2024.The consensus among the analysts for the expected earnings (EPS) is $4.25. We will update the financials statements for Credicorp Ltd, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.18% in the first trading day after earnings release.
Is Credicorp Ltd 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 Credicorp Ltd stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.822 Buy Candidate Upgraded
Predicted Opening Price for Credicorp Ltd of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $168.06 ( 0.346%) | $168.64 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BAP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 172.27 | 2.15 % | |
| R2 | 170.66 | 1.20 % | ||
| R1 | 169.66 | 0.608 % | ||
| Current price: | 168.64 | |||
| Support | S1 | 166.45 | -1.30 % | |
| S2 | 165.45 | -1.89 % | ||
| S3 | 163.85 | -2.84 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 170.88 | 1.33 % | |
| R2 | 170.21 | 0.93 % | ||
| R1 | 170.00 | 0.81 % | ||
| Current price | 168.64 | |||
| Support | S1 | 167.06 | -0.94% | |
| S2 | 165.11 | -2.09% | ||
| S3 | 154.28 | -8.52% |
BAP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 17, 2024 | May 17, 2024 | May 17, 2024 | $0 | 0% |
| 2 | May 08, 2023 | May 18, 2023 | Jun 09, 2023 | $0.679 | 0.483% |
| 3 | May 18, 2022 | May 19, 2022 | Jun 09, 2023 | $0.398 | 0.283% |
| 4 | Aug 26, 2021 | Sep 14, 2021 | Oct 07, 2021 | $0.294 | 0.234% |
| 5 | Feb 27, 2020 | Apr 09, 2020 | May 08, 2020 | $2.61 | 1.79% |
FAQ
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