Avanza Bank Holding AB (publ) Stock Forecast

Green day on Thursday for Avanza Bank Holding AB (publ)
(Updated on May 02, 2024)

AZA.ST Signals & Forecast

The Avanza Bank Holding AB (publ) 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 kr236.26 and kr231.74. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, April 08, 2024, and so far it has fallen -4.11%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The stock had a Golden Star Signal on Wednesday, April 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 Avanza Bank Holding AB (publ) stock

On the downside, the stock finds support just below today's level from accumulated volume at kr217.90 and kr215.20. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Avanza Bank Holding AB (publ) finds support just below today's level at kr217.90. If this is broken, then the next support from accumulated volume will be at kr215.20 and kr207.30.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved kr6.20 between high and low, or 2.61%. For the last week, the stock has had daily average volatility of 2.91%.

Our recommended stop-loss: kr232.30 (-4.33%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 17 days ago.)

Trading Expectations (AZA.ST) For The Upcoming Trading Day Of Friday 3rd

For the upcoming trading day on Friday, 3rd we expect Avanza Bank Holding AB (publ) to open at kr241.13, and during the day (based on 14 day Average True Range), to move between kr235.38 and kr250.22, which gives a possible trading interval of +/-kr7.42 (+/-3.06%) up or down from last closing price. If Avanza Bank Holding AB (publ) takes out the full calculated possible swing range there will be an estimated 6.12% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at kr245.10 (0.95%) than the support at kr217.90 (10.26%), 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 Avanza Bank Holding AB (publ) 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 Avanza Bank Holding AB (publ) stock to perform well in the short-term.

Current score: 4.311 Buy Candidate Unchanged

Predicted Opening Price for Avanza Bank Holding AB (publ) of Friday, May 3, 2024

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