Australia and New Zealand Banking Group Stock Forecast
Evaluation of Australia and New Zealand Banking Group stock downgraded after the last trading session.
(Updated on May 17, 2024)
The Australia and New Zealand Banking Group stock price fell by -0.460% on the last day (Friday, 17th May 2024) from $28.26 to $28.13. During the last trading day the stock fluctuated 0.96% from a day low at $27.99 to a day high of $28.26. The price has been going up and down for this period, and there has been a -1.23% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -4 million shares and in total, 4 million shares were bought and sold for approximately $113.40 million.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Australia and New Zealand Banking Group stock with a 90% probability to be traded between $27.33 and $29.17 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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ANZ.AX Signals & Forecast
There are mixed signals in the stock today. The Australia and New Zealand Banking Group stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $28.31 and $28.65. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. A buy signal was issued from a pivot bottom point on Wednesday, May 15, 2024, and so far it has risen 1.63%. 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).
Support, Risk & Stop-loss for Australia and New Zealand Banking Group stock
Australia and New Zealand Banking Group finds support from accumulated volume at $28.10 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 $0.270 between high and low, or 0.96%. For the last week the stock has had daily average volatility of 1.34%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ANZ.AX) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Australia and New Zealand Banking Group Limited to open at $28.13, and during the day (based on 14 day Average True Range), to move between $27.66 and $28.60, which gives a possible trading interval of +/-$0.472 (+/-1.68%) up or down from last closing price. If Australia and New Zealand Banking Group Limited takes out the full calculated possible swing range there will be an estimated 3.35% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $28.10 (0.11%) than the resistance at $28.69 (1.99%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Australia and New Zealand Banking Group Limited stock A Buy?
Australia and New Zealand Banking Group holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, 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: -2.882 Sell Candidate Downgraded
Predicted Opening Price for Australia and New Zealand Banking Group Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $28.13 ( 0.0118%) | $28.13 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ANZ.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 28.40 | 0.95 % | |
| R2 | 28.29 | 0.581 % | ||
| R1 | 28.23 | 0.355 % | ||
| Current price: | 28.13 | |||
| Support | S1 | 28.02 | -0.379 % | |
| S2 | 27.96 | -0.605 % | ||
| S3 | 27.86 | -0.97 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 29.12 | 3.52 % | |
| R2 | 28.79 | 2.35 % | ||
| R1 | 28.69 | 1.99 % | ||
| Current price | 28.13 | |||
| Support | S1 | 28.10 | -0.107% | |
| S2 | 27.88 | -0.89% | ||
| S3 | 27.68 | -1.60% |
ANZ Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 13, 2024 | May 13, 2024 | Jul 01, 2024 | $0.83 | 2.95% |
| 2 | Nov 16, 2023 | Nov 16, 2023 | Nov 16, 2023 | $0.94 | 3.89% |
| 3 | May 15, 2023 | May 15, 2023 | May 15, 2023 | $0.81 | 3.44% |
| 4 | Nov 07, 2022 | Nov 07, 2022 | Nov 07, 2022 | $0.740 | 3.04% |
| 5 | May 09, 2022 | May 09, 2022 | May 09, 2022 | $0.714 | 2.77% |
FAQ
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