Aflac Incorporated Stock Forecast

Weaker technical forecast for Aflac Incorporated as stock downgraded to Buy Candidate.
(Updated on May 02, 2024)

AFL Signals & Forecast

The Aflac Incorporated stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $84.06. On a fall, the stock will find some support from the long-term average at approximately $83.69. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Thursday, April 11, 2024, and so far it has risen 5.52%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss for Aflac Incorporated stock

Aflac Incorporated finds support from accumulated volume at $83.17 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 $3.97 (4.93%) between high and low. For the last week, the stock has had daily average volatility of 2.55%.

Our recommended stop-loss: $80.69 (-3.99%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 15 days ago.)

Trading Expectations (AFL) For The Upcoming Trading Day Of Friday 3rd

For the upcoming trading day on Friday, 3rd we expect Aflac Incorporated to open at $83.06, and during the day (based on 14 day Average True Range), to move between $82.43 and $85.65, which gives a possible trading interval of +/-$1.61 (+/-1.92%) up or down from last closing price. If Aflac Incorporated takes out the full calculated possible swing range there will be an estimated 3.83% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $84.37 (0.39%) than the support at $83.17 (1.04%), 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 Aflac Incorporated 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 Aflac Incorporated stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.

Current score: 4.040 Buy Candidate Downgraded

Predicted Opening Price for Aflac Incorporated of Friday, May 3, 2024

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