Allianz Technology Trust PLC Stock Forecast
Stronger technical forecast for Allianz Technology Trust PLC stock price after Tuesday trading.
(Updated on Apr 30, 2024)
The Allianz Technology Trust PLC stock price fell by -0.575% on the last day (Tuesday, 30th Apr 2024) from £348.00 to £346.00. During the last trading day the stock fluctuated 1.88% from a day low at £345.00 to a day high of £351.50. The price has fallen in 6 of the last 10 days but is still up by 0.29% over the past 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 -159 thousand shares and in total, 420 thousand shares were bought and sold for approximately £145.37 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 4.84% during the next 3 months and, with a 90% probability hold a price between £344.55 and £385.38 at the end of this 3-month period.
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ATT.L Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 5.81%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Allianz Technology Trust PLC stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at £346.09. On a fall, the stock will find some support from the short-term average at £341.00. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Allianz Technology Trust PLC stock
Allianz Technology Trust PLC finds support from accumulated volume at £344.50 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 £6.50 (1.88%) between high and low. For the last week, the stock has had daily average volatility of 2.48%.
Our recommended stop-loss: £330.52 (-4.47%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (ATT.L) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect Allianz Technology Trust PLC to open at £347.50, and during the day (based on 14 day Average True Range), to move between £337.07 and £354.93, which gives a possible trading interval of +/-£8.93 (+/-2.58%) up or down from last closing price. If Allianz Technology Trust PLC takes out the full calculated possible swing range there will be an estimated 5.16% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £347.50 (0.43%) than the support at £344.50 (0.43%), 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 Allianz Technology Trust PLC 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 Allianz Technology Trust PLC 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: 1.028 Buy Candidate Upgraded
Predicted Opening Price for Allianz Technology Trust PLC of Wednesday, May 1, 2024
| Fair opening price May 1, 2024 | Current price |
|---|---|
| £347.50 ( 0.434%) | £346.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ATT.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 354.00 | 2.31 % | |
| R2 | 351.52 | 1.59 % | ||
| R1 | 349.98 | 1.15 % | ||
| Current price: | 346.00 | |||
| Support | S1 | 345.02 | -0.284 % | |
| S2 | 343.48 | -0.727 % | ||
| S3 | 341.00 | -1.45 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 351.00 | 1.45 % | |
| R2 | 348.00 | 0.578 % | ||
| R1 | 347.50 | 0.434 % | ||
| Current price | 346.00 | |||
| Support | S1 | 344.50 | -0.434% | |
| S2 | 335.50 | -3.03% | ||
| S3 | 327.50 | -5.35% |
FAQ
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