Aspen Insurance Holdings Limited Stock Forecast
Weaker technical forecast for Aspen Insurance Holdings Limited as stock downgraded to Hold/Accumulate.
(Updated on Jun 28, 2024)
The Aspen Insurance Holdings Limited stock price gained 0.80% on the last trading day (Friday, 28th Jun 2024), rising from $26.11 to $26.32. It has now gained 4 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 2.27% from a day low at $25.96 to a day high of $26.55. The price has risen in 7 of the last 10 days and is up by 1.27% 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, 121 thousand more shares were traded than the day before. In total, 157 thousand shares were bought and sold for approximately $4.15 million.
The stock has broken the narrow and horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. $26.05 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach $26.44 sometime during the next 3 months.
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AHL-PC Signals & Forecast
The Aspen Insurance Holdings Limited 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 $25.97 and $25.90. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 2.81%. 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). Volume is rising along with the price. This is considered to be a good technical signal. The stock had a Golden Star Signal on Monday, June 24, 2024 in the short-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
The stock had a Golden Star Signal on Monday, June 24, 2024 in the short-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 Aspen Insurance Holdings Limited stock
Aspen Insurance Holdings Limited finds support from accumulated volume at $25.95 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.590 between high and low, or 2.27%. For the last week the stock has had daily average volatility of 1.24%.
Our recommended stop-loss: $24.96 (-5.18%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (AHL-PC) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Aspen Insurance Holdings Limited to open at $26.28, and during the day (based on 14 day Average True Range), to move between $26.08 and $26.56, which gives a possible trading interval of +/-$0.237 (+/-0.90%) up or down from last closing price. If Aspen Insurance Holdings Limited takes out the full calculated possible swing range there will be an estimated 1.80% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $25.95, some $0.370 (1.41%) from the current price of $26.32, our system finds the risk reward attractive.
Is Aspen Insurance Holdings Limited stock A Buy?
Aspen Insurance Holdings Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Aspen Insurance Holdings Limited of Monday, July 1, 2024
Fair opening price July 1, 2024 | Current price |
---|---|
$26.28 ( 0.165%) | $26.32 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AHL-PC
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 26.87 | 2.08% |
R2 | 26.64 | 1.22% |
R1 | 26.50 | 0.692% |
Price | 26.32 | |
S1 | 26.05 | -1.02% |
S2 | 25.91 | -1.55% |
S3 | 25.69 | -2.41% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0 | - |
R2 | 0 | - |
R1 | 0 | - |
Price | 26.32 | |
S1 | 25.95 | -1.41% |
S2 | 25.91 | -1.56% |
S3 | 25.87 | -1.71% |
AHL-PC Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jun 14, 2024 | Jun 14, 2024 | Jul 01, 2024 | $0.606 | 2.32% |
2 | Mar 14, 2024 | Mar 14, 2024 | Apr 01, 2024 | $0.600 | 2.37% |
3 | Dec 14, 2023 | Dec 14, 2023 | Dec 14, 2023 | $0.613 | 2.44% |
4 | Sep 14, 2023 | Sep 14, 2023 | Sep 14, 2023 | $0.600 | 2.37% |
5 | Jun 14, 2023 | Jun 14, 2023 | Jun 14, 2023 | $0.372 | 1.52% |
FAQ
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