American Financial Group, Inc. Stock Forecast
American Financial Group, Inc. stock upgraded to Buy Candidate.
(Updated on Jun 28, 2024)
The American Financial Group, Inc. stock price gained 1.05% on the last trading day (Friday, 28th Jun 2024), rising from $23.85 to $24.10. During the last trading day the stock fluctuated 1.76% from a day low at $23.83 to a day high of $24.25. The price has risen in 7 of the last 10 days and is up by 5.56% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 10 thousand more shares were traded than the day before. In total, 15 thousand shares were bought and sold for approximately $356.32 thousand.
The stock lies the upper part of a falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $24.19 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -2.83% during the next 3 months and, with a 90% probability hold a price between $21.50 and $23.50 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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AFGD Signals & Forecast
Mostly positive signals in the chart today. The American Financial Group, Inc. 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 $23.83 and $22.96. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 29, 2024, and so far it has risen 7.78%. 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). American Financial Group, Inc. 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. The stock had a Golden Star Signal on Wednesday, December 13, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Wednesday, December 13, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for American Financial Group, Inc. stock
American Financial Group, Inc. finds support from accumulated volume at $23.46 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 $0.420 (1.76%) between high and low. For the last week, the stock has had daily average volatility of 2.03%.
The American Financial Group, Inc. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $23.25 (-3.52%) (This stock has low daily movements and this gives low risk. The RSI14 is 74 and this increases the risk substantially. There is a buy signal from a pivot bottom found 61 days ago.)
Trading Expectations (AFGD) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect American Financial Group, Inc. to open at $24.06, and during the day (based on 14 day Average True Range), to move between $23.62 and $24.58, which gives a possible trading interval of +/-$0.482 (+/-2.00%) up or down from last closing price. If American Financial Group, Inc. takes out the full calculated possible swing range there will be an estimated 4.00% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $24.39 (1.20%) than the support at $23.46 (2.66%), 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 American Financial Group, Inc. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.112 Buy Candidate Upgraded
Predicted Opening Price for American Financial Group, Inc. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $24.06 ( 0.166%) | $24.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AFGD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 24.48 | 1.58% |
| R2 | 24.32 | 0.91% |
| R1 | 24.22 | 0.500% |
| Price | 24.10 | |
| S1 | 23.90 | -0.83% |
| S2 | 23.80 | -1.24% |
| S3 | 23.64 | -1.91% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 24.43 | 1.37% |
| R2 | 24.40 | 1.24% |
| R1 | 24.39 | 1.20% |
| Price | 24.10 | |
| S1 | 23.46 | -2.66% |
| S2 | 22.78 | -5.48% |
| S3 | 22.75 | -5.60% |
AFGD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 15, 2024 | Aug 15, 2024 | Sep 03, 2024 | $0.352 | 1.44% |
| 2 | May 14, 2024 | May 14, 2024 | Jun 03, 2024 | $0.352 | 1.54% |
| 3 | Feb 14, 2024 | Feb 14, 2024 | Mar 01, 2024 | $0.352 | 1.50% |
| 4 | Nov 14, 2023 | Nov 14, 2023 | Dec 01, 2023 | $0.352 | 1.59% |
| 5 | Aug 14, 2023 | Aug 14, 2023 | Sep 01, 2023 | $0.352 | 1.56% |
FAQ
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