Asseco Business Solutions S.A. 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
Asseco Business Solutions S.A. stock downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on May 31, 2024)
The Asseco Business Solutions S.A. stock price gained 1.71% on the last trading day (Friday, 31st May 2024), rising from 58.60zł to 59.60zł. During the last trading day the stock fluctuated 1.71% from a day low at 58.60zł to a day high of 59.60zł. The price has risen in 6 of the last 10 days. Volume fell on the last day by -96 shares and in total, 735 shares were bought and sold for approximately 43.81zł thousand. 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 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 10.43% during the next 3 months and, with a 90% probability hold a price between 62.09zł and 72.74zł at the end of this 3-month period.
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ABS.WA Signals & Forecast
There are few to no technical positive signals at the moment. The Asseco Business Solutions S.A. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at 60.37zł. On a fall, the stock will find some support from the short-term average at 59.51zł. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Monday, April 15, 2024, and so far it has fallen -4.79%. 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). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
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.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved 1.00zł between high and low, or 1.71%. For the last week the stock has had daily average volatility of 1.91%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ABS.WA) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Asseco Business Solutions S.A. to open at 59.27zł, and during the day (based on 14 day Average True Range), to move between 58.10zł and 61.10zł, which gives a possible trading interval of +/-1.50zł (+/-2.52%) 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 5.05% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 60.00zł (0.67%) than the support at 57.80zł (3.02%), 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?
The Asseco Business Solutions S.A. stock holds several negative signals and despite the positive trend, we believe Asseco Business Solutions S.A. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.269 Sell Candidate Downgraded
Predicted Opening Price for Asseco Business Solutions S.A. of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| 59.27zł ( 0.559%) | 59.60zł |
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 | 60.27 | 1.12 % | |
| R2 | 59.88 | 0.478 % | ||
| R1 | 59.65 | 0.0817 % | ||
| Current price: | 59.60 | |||
| Support | S1 | 58.88 | -1.20 % | |
| S2 | 58.65 | -1.60 % | ||
| S3 | 58.27 | -2.24 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 62.00 | 4.03 % | |
| R2 | 61.00 | 2.35 % | ||
| R1 | 60.00 | 0.671 % | ||
| Current price | 59.60 | |||
| Support | S1 | 57.80 | -3.02% | |
| S2 | 56.40 | -5.37% | ||
| S3 | 53.60 | -10.07% |
ABS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 04, 2024 | Jul 04, 2024 | Jul 16, 2024 | 2.60zł | 4.36% |
| 2 | Jun 07, 2023 | Jun 07, 2023 | Jun 07, 2023 | 2.30zł | 5.65% |
| 3 | Jun 09, 2022 | Jun 09, 2022 | Jun 09, 2022 | 2.12zł | 5.33% |
| 4 | Jun 17, 2021 | Jun 17, 2021 | Jun 17, 2021 | 2.00zł | 5.71% |
| 5 | May 18, 2020 | May 18, 2020 | May 18, 2020 | 1.80zł | 5.14% |
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