Avanza Bank Holding AB (publ) Stock Forecast

Red day on Friday for Avanza Bank Holding AB (publ) stock after losing 0.793%
(Updated on May 17, 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 kr257.90 and kr241.69. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Thursday, May 16, 2024, and so far it has fallen -0.793%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. 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 kr232.50 and kr220.60. 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 kr232.50. If this is broken, then the next support from accumulated volume will be at kr220.60 and kr217.90.

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 kr4.50 between high and low, or 1.74%. For the last week, the stock has had daily average volatility of 2.26%.

The Avanza Bank Holding AB (publ) stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: kr255.87 (-2.60%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 85 and this increases the risk substantially. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (AZA.ST) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Avanza Bank Holding AB (publ) to open at kr261.93, and during the day (based on 14 day Average True Range), to move between kr256.17 and kr269.23, which gives a possible trading interval of +/-kr6.53 (+/-2.49%) 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 4.97% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at kr264.40 (0.65%) than the support at kr232.50 (11.50%), 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: 3.861 Buy Candidate Unchanged

Predicted Opening Price for Avanza Bank Holding AB (publ) of Monday, May 20, 2024

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