ABN AMRO Bank N.V. Stock Forecast

ABN AMRO Bank N.V. stock upgraded to Buy Candidate.
(Updated on May 09, 2024)

ABN.AS Signals & Forecast

The ABN AMRO Bank N.V. 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 15.65€ and 15.73€. 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). 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. 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 Thursday, April 04, 2024, and so far it has fallen -2.40%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for ABN AMRO Bank N.V. stock

On the downside, the stock finds support just below today's level from accumulated volume at 15.19€ and 14.85€. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, ABN AMRO Bank N.V. finds support just below today's level at 15.19€. If this is broken, then the next support from accumulated volume will be at 14.85€ and 14.33€.

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 0.130€ (0.82%) between high and low. For the last week, the stock has had daily average volatility of 1.56%.

Since the ABN AMRO Bank N.V. has been rising for 7 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

Our recommended stop-loss: 15.48€ (-3.51%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 24 days ago.)

Trading Expectations (ABN.AS) For The Upcoming Trading Day Of Friday 10th

For the upcoming trading day on Friday, 10th we expect ABN AMRO Bank N.V. to open at 16.01€, and during the day (based on 14 day Average True Range), to move between 15.71€ and 16.37€, which gives a possible trading interval of +/-0.327€ (+/-2.04%) up or down from last closing price. If ABN AMRO Bank N.V. takes out the full calculated possible swing range there will be an estimated 4.08% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 16.18€ (0.84%) than the support at 15.19€ (5.30%), 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 ABN AMRO Bank N.V. 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 ABN AMRO Bank N.V. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Current score: 2.603 Buy Candidate Upgraded

Predicted Opening Price for ABN AMRO Bank N.V. of Friday, May 10, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.