Australia and New Zealand Banking Group Stock Forecast
Australia and New Zealand Banking Group stock upgraded from Hold/Accumulate to Buy Candidate after Tuesday trading session.
(Updated on Jun 18, 2024)
The Australia and New Zealand Banking Group stock price gained 2.45% on the last trading day (Tuesday, 18th Jun 2024), rising from $30.99 to $31.75. During the last trading day the stock fluctuated 2.92% from a day low at $30.85 to a day high of $31.75. The price has risen in 5 of the last 10 days and is up by 1.6% over the past 2 weeks. Volume fell on the last day by -5 thousand shares and in total, 23 thousand shares were bought and sold for approximately $725.84 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 stockhas broken the falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $31.61, a level that may pose a second chance to hit a runner. According to fan-theory $33.38 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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ANZ.NZ Signals & Forecast
The Australia and New Zealand Banking Group 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 $31.03 and $30.91. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 30, 2024, and so far it has risen 5.55%. 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 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 also not. The stock had a Golden Star Signal on Wednesday, June 05, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Tuesday, July 11, 2023.
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 Wednesday, June 05, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Tuesday, July 11, 2023.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, June 05, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Tuesday, July 11, 2023.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.
A buy signal from a double bottom formation was found on Thursday, May 30, 2024 and based on theory for this formation the price should go up by 2.48% to $32.54 within 11 trading days since signal was issued (Wednesday, June 19, 2024).
Support, Risk & Stop-loss for Australia and New Zealand Banking Group stock
Australia and New Zealand Banking Group finds support from accumulated volume at $31.50 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 $0.90 between high and low, or 2.92%. For the last week the stock has had daily average volatility of 1.83%
Our recommended stop-loss: $30.12 (-5.14%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 18 days ago.)
Trading Expectations (ANZ.NZ) For The Upcoming Trading Day Of Wednesday 19th
For the upcoming trading day on Wednesday, 19th we expect Australia and New Zealand Banking Group Limited to open at $31.45, and during the day (based on 14 day Average True Range), to move between $31.16 and $32.34, which gives a possible trading interval of +/-$0.587 (+/-1.85%) 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 3.70% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $31.79 (0.13%) than the support at $31.50 (0.79%), 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 Australia and New Zealand Banking Group Limited stock A Buy?
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.382 Buy Candidate Upgraded
Predicted Opening Price for Australia and New Zealand Banking Group Limited of Wednesday, June 19, 2024
| Fair opening price June 19, 2024 | Current price |
|---|---|
| $31.45 ( 0.94%) | $31.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ANZ.NZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 32.35 | 1.89% |
| R2 | 32.01 | 0.81% |
| R1 | 31.79 | 0.138% |
| Price | 31.75 | |
| S1 | 31.11 | -2.03% |
| S2 | 30.89 | -2.70% |
| S3 | 30.55 | -3.78% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 31.90 | 0.472% |
| R2 | 31.88 | 0.409% |
| R1 | 31.79 | 0.126% |
| Price | 31.75 | |
| S1 | 31.50 | -0.787% |
| S2 | 31.00 | -2.36% |
| S3 | 30.45 | -4.09% |
ANZ Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 13, 2024 | May 13, 2024 | Jul 01, 2024 | $0.91 | 2.87% |
| 2 | Nov 16, 2023 | Nov 16, 2023 | Nov 16, 2023 | $0.94 | 3.56% |
| 3 | May 15, 2023 | May 15, 2023 | May 15, 2023 | $0.86 | 3.41% |
| 4 | Nov 07, 2022 | Nov 07, 2022 | Nov 07, 2022 | $0.81 | 3.05% |
| 5 | May 09, 2022 | May 09, 2022 | May 09, 2022 | $0.787 | 2.77% |
FAQ
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