Asseco Business Solutions S.A. Stock Forecast
Asseco Business Solutions S.A. stock upgraded from Buy Candidate to Strong Buy Candidate after Friday trading session.
(Updated on May 17, 2024)
The Asseco Business Solutions S.A. stock price gained 0.671% on the last trading day (Friday, 17th May 2024), rising from 59.60zł to 60.00zł. It has now gained 3 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 1.68% from a day low at 59.60zł to a day high of 60.60zł. The price has risen in 5 of the last 10 days but is still down by -3.23% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 767 more shares were traded than the day before. In total, 2 thousand shares were bought and sold for approximately 121.32zł thousand.
The stock lies in the middle of a wide and strong 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 14.73% during the next 3 months and, with a 90% probability hold a price between 64.75zł and 75.37zł at the end of this 3-month period.
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ABS.WA Signals & Forecast
The Asseco Business Solutions S.A. 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 59.51zł and 59.50zł. A breakdown below any of these levels will issue sell signals. Asseco Business Solutions S.A. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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 Monday, April 15, 2024, and so far it has fallen -4.15%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Asseco Business Solutions S.A. stock
Asseco Business Solutions S.A. finds support from accumulated volume at 57.80zł 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 1.00zł (1.68%) between high and low. For the last week, the stock has had daily average volatility of 1.92%.
Our recommended stop-loss: 56.78zł (-5.36%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 34 days ago.)
Trading Expectations (ABS.WA) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Asseco Business Solutions S.A. to open at 60.07zł, and during the day (based on 14 day Average True Range), to move between 58.18zł and 61.82zł, which gives a possible trading interval of +/-1.82zł (+/-3.04%) up or down from last closing price. If Asseco Business Solutions S.A. takes out the full calculated possible swing range there will be an estimated 6.07% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 60.80zł (1.33%) than the support at 57.80zł (3.67%), 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 Asseco Business Solutions S.A. stock A Buy?
Asseco Business Solutions S.A. holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.089 Strong Buy Candidate Upgraded
Predicted Opening Price for Asseco Business Solutions S.A. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| 60.07zł ( 0.111%) | 60.00zł |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ABS.WA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 61.07 | 1.78 % | |
| R2 | 60.68 | 1.14 % | ||
| R1 | 60.45 | 0.748 % | ||
| Current price: | 60.00 | |||
| Support | S1 | 59.68 | -0.526 % | |
| S2 | 59.45 | -0.92 % | ||
| S3 | 59.07 | -1.56 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 62.00 | 3.33 % | |
| R2 | 61.00 | 1.67 % | ||
| R1 | 60.80 | 1.33 % | ||
| Current price | 60.00 | |||
| Support | S1 | 57.80 | -3.67% | |
| S2 | 56.40 | -6.00% | ||
| S3 | 53.60 | -10.67% |
ABS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 07, 2023 | Jun 07, 2023 | Jun 07, 2023 | 2.30zł | 5.65% |
| 2 | Jun 09, 2022 | Jun 09, 2022 | Jun 09, 2022 | 2.12zł | 5.33% |
| 3 | Jun 17, 2021 | Jun 17, 2021 | Jun 17, 2021 | 2.00zł | 5.71% |
| 4 | May 18, 2020 | May 18, 2020 | May 18, 2020 | 1.80zł | 5.14% |
| 5 | May 30, 2019 | May 30, 2019 | May 30, 2019 | 1.50zł | 5.36% |
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