Abb Ltd Stock Forecast
Green day on Tuesday for Abb Ltd stock after gaining 2.20%
(Updated on Jun 18, 2024)
The Abb Ltd stock price gained 2.20% on the last trading day (Tuesday, 18th Jun 2024), rising from $56.78 to $58.03. During the last trading day the stock fluctuated 3.11% from a day low at $56.31 to a day high of $58.06. The price has been going up and down for this period, and there has been a 5.11% gain for the last 2 weeks. Volume fell on the last day by -6 thousand shares and in total, 40 thousand shares were bought and sold for approximately $2.35 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 in the middle of a narrow 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 7.12% during the next 3 months and, with a 90% probability hold a price between $60.42 and $62.87 at the end of this 3-month period.
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ABBNY Signals & Forecast
The Abb Ltd 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 $56.75 and $55.65. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 3.72%. 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.
A buy signal from a double bottom formation was found on Friday, June 14, 2024 with a target of $58.03. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for Abb Ltd stock
Abb Ltd finds support from accumulated volume at $55.24 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 $1.75 between high and low, or 3.11%. For the last week the stock has had daily average volatility of 1.31%.
Our recommended stop-loss: $55.77 (-3.89%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (ABBNY) For The Upcoming Trading Day Of Thursday 20th
For the upcoming trading day on Thursday, 20th we expect Abb Ltd to open at $57.47, and during the day (based on 14 day Average True Range), to move between $57.03 and $59.03, which gives a possible trading interval of +/-$1.00 (+/-1.72%) up or down from last closing price. If Abb Ltd takes out the full calculated possible swing range there will be an estimated 3.43% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $55.24, some $2.79 (4.81%) from the current price of $58.03, our system finds the risk reward attractive.
Is Abb Ltd stock A Buy?
Abb 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.
Current score: 0.000 Hold/Accumulate Unchanged
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 Abb Ltd of Thursday, June 20, 2024
| Fair opening price June 20, 2024 | Current price |
|---|---|
| $57.47 ( 0.97%) | $58.03 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ABBNY
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 59.22 | 2.04% |
| R2 | 58.55 | 0.89% |
| R1 | 58.14 | 0.181% |
| Price | 58.03 | |
| S1 | 56.80 | -2.12% |
| S2 | 56.39 | -2.83% |
| S3 | 55.72 | -3.99% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 58.03 | |
| S1 | 55.24 | -4.81% |
| S2 | 55.21 | -4.86% |
| S3 | 53.88 | -7.15% |
ABBNY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 06, 2024 | Mar 25, 2024 | May 08, 2024 | $1.00 | 1.95% |
| 2 | Feb 02, 2023 | Mar 27, 2023 | May 11, 2023 | $0.92 | 2.50% |
| 3 | Mar 28, 2022 | Mar 28, 2022 | May 11, 2022 | $0.89 | 3.16% |
| 4 | Mar 29, 2021 | Mar 29, 2021 | May 14, 2021 | $0.87 | 2.55% |
| 5 | Mar 30, 2020 | Mar 30, 2020 | May 15, 2020 | $0.774 | 4.38% |
FAQ
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