Abb Ltd Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Red day on Thursday for Abb Ltd
(Updated on Jun 20, 2024)
The Abb Ltd stock price fell by -1.55% on the last day (Thursday, 20th Jun 2024) from $58.03 to $57.13. During the last trading day the stock fluctuated 0.93% from a day low at $57.01 to a day high of $57.54. The price has fallen in 6 of the last 10 days but is still up by 1.42% over the past 2 weeks. Volume has increased on the last day by 85 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 126 thousand shares were bought and sold for approximately $7.17 million.
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 7.16% during the next 3 months and, with a 90% probability hold a price between $60.66 and $63.03 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 $56.89 and $55.73. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Tuesday, June 18, 2024, and so far it has fallen -1.55%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
A buy signal from a double bottom formation was found on Friday, June 14, 2024 and based on theory for this formation the price should go up by 1.57% to $58.03 within 3 trading days since signal was issued (Friday, June 21, 2024).
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 $0.530 between high and low, or 0.93%. For the last week the stock has had daily average volatility of 1.30%.
Our recommended stop-loss: $55.26 (-3.27%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (ABBNY) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Abb Ltd to open at $57.23, and during the day (based on 14 day Average True Range), to move between $56.13 and $58.13, which gives a possible trading interval of +/-$1.00 (+/-1.75%) up or down from last closing price. If Abb Ltd takes out the full calculated possible swing range there will be an estimated 3.49% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $57.62 (0.86%) than the support at $55.24 (3.31%), 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 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 Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| $57.23 ( 0.169%) | $57.13 |
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 | 57.76 | 1.10% |
| R2 | 57.55 | 0.743% |
| R1 | 57.43 | 0.524% |
| Price | 57.13 | |
| S1 | 57.02 | -0.185% |
| S2 | 56.90 | -0.404% |
| S3 | 56.70 | -0.759% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 58.03 | 1.58% |
| R1 | 57.62 | 0.86% |
| Price | 57.13 | |
| S1 | 55.24 | -3.31% |
| S2 | 55.21 | -3.36% |
| S3 | 53.88 | -5.69% |
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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