AIA Group Ltd Stock Forecast
AIA Group Ltd stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Apr 26, 2024)
The AIA Group Ltd stock price gained 4.56% on the last trading day (Friday, 26th Apr 2024), rising from $26.32 to $27.52. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.17% from a day low at $27.35 to a day high of $27.67. The price has risen in 7 of the last 10 days and is up by 13.02% over the past 2 weeks. Volume fell on the last day by -319 thousand shares and in total, 485 thousand shares were bought and sold for approximately $13.35 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 the upper part of a very wide and falling 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 $28.47 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -24.15% during the next 3 months and, with a 90% probability hold a price between $16.81 and $21.59 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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AAGIY Signals & Forecast
The AIA Group 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 $25.38 and $27.46. 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 17.96%. 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 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.
Support, Risk & Stop-loss for AIA Group Ltd stock
AIA Group Ltd finds support from accumulated volume at $27.51 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.320 between high and low, or 1.17%. For the last week, the stock has had daily average volatility of 1.72%.
Our recommended stop-loss: $26.58 (-3.40%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (AAGIY) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect AIA Group Ltd to open at $27.51, and during the day (based on 14 day Average True Range), to move between $26.74 and $28.30, which gives a possible trading interval of +/-$0.784 (+/-2.85%) up or down from last closing price. If AIA Group Ltd takes out the full calculated possible swing range there will be an estimated 5.69% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $27.51 (0.04%) than the resistance at $27.95 (1.56%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is AIA Group Ltd stock A Buy?
AIA Group Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for AIA Group Ltd of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $27.51 ( 0.0242%) | $27.52 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AAGIY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 27.83 | 1.14 % | |
| R2 | 27.71 | 0.694 % | ||
| R1 | 27.64 | 0.420 % | ||
| Current price: | 27.52 | |||
| Support | S1 | 27.39 | -0.468 % | |
| S2 | 27.32 | -0.743 % | ||
| S3 | 27.19 | -1.19 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 32.05 | 16.46 % | |
| R2 | 30.71 | 11.59 % | ||
| R1 | 27.95 | 1.56 % | ||
| Current price | 27.52 | |||
| Support | S1 | 27.51 | -0.0363% | |
| S2 | 23.84 | -13.37% | ||
| S3 | 23.33 | -15.23% |
AAGIY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 15, 2024 | May 30, 2024 | Jun 24, 2024 | $0.579 | 2.10% |
| 2 | May 29, 2024 | May 29, 2024 | Jun 24, 2024 | $0.579 | 2.10% |
| 3 | Sep 07, 2023 | Sep 07, 2023 | Oct 06, 2023 | $0.190 | 0.548% |
| 4 | May 22, 2023 | May 22, 2023 | Jun 20, 2023 | $0.578 | 1.41% |
| 5 | Sep 09, 2022 | Sep 09, 2022 | Oct 11, 2022 | $0.205 | 0.602% |
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