Aflac Incorporated Stock Forecast
Aflac Incorporated stock downgraded from Buy Candidate to Sell Candidate after Friday trading session.
(Updated on May 03, 2024)
The Aflac Incorporated stock price fell by -1.00% on the last day (Friday, 3rd May 2024) from $84.04 to $83.20. During the last trading day the stock fluctuated 2.82% from a day low at $81.96 to a day high of $84.27. The price has been going up and down for this period, and there has been a -0.04% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -1 million shares and in total, 3 million shares were bought and sold for approximately $237.32 million.
The stock lies in the middle of a 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 6.97% during the next 3 months and, with a 90% probability hold a price between $86.78 and $94.33 at the end of this 3-month period.
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AFL Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 11, 2024, and so far it has risen 4.47%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Aflac Incorporated stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $83.91 and $83.68. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Aflac Incorporated stock
Aflac Incorporated finds support from accumulated volume at $83.17 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 $2.32 (2.82%) between high and low. For the last week, the stock has had daily average volatility of 2.93%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AFL) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Aflac Incorporated to open at $83.14, and during the day (based on 14 day Average True Range), to move between $81.54 and $84.86, which gives a possible trading interval of +/-$1.66 (+/-2.00%) up or down from last closing price. If Aflac Incorporated takes out the full calculated possible swing range there will be an estimated 3.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $83.23 (0.04%) than the support at $83.17 (0.04%), 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 Aflac Incorporated stock A Buy?
Aflac Incorporated holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. 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 Sell candidate.
Current score: -3.610 Sell Candidate Downgraded
Predicted Opening Price for Aflac Incorporated of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $83.14 ( 0.0701%) | $83.20 |
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 | 85.46 | 2.71 % | |
| R2 | 84.57 | 1.65 % | ||
| R1 | 84.03 | 0.99 % | ||
| Current price: | 83.20 | |||
| Support | S1 | 82.26 | -1.13 % | |
| S2 | 81.71 | -1.79 % | ||
| S3 | 80.83 | -2.85 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 85.86 | 3.20 % | |
| R2 | 84.04 | 1.01 % | ||
| R1 | 83.23 | 0.0361 % | ||
| Current price | 83.20 | |||
| Support | S1 | 83.17 | -0.0361% | |
| S2 | 80.43 | -3.33% | ||
| S3 | 79.64 | -4.28% |
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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