Banco da Amazônia S.A. Stock Forecast

Banco da Amazônia S.A. stock upgraded to Hold/Accumulate.
(Updated on May 17, 2024)

BAZA3.SA Signals & Forecast

There are few to no technical positive signals at the moment. The Banco da Amazônia S.A. 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 R$99.53 and R$101.83. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 10, 2024, and so far it has fallen -10.05%. 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). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.

Support, Risk & Stop-loss for Banco da Amazônia S.A. stock

Banco da Amazônia S.A. finds support from accumulated volume at R$91.20 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 R$1.99 between high and low, or 2.09%. For the last week the stock has had daily average volatility of 1.94%

Banco da Amazônia S.A. is oversold on RSI14 (21). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: R$90.05 (-5.99%) (This stock has low daily movements and this gives low risk. Low RSI14 is 21 which reduces the risk some. There is a sell signal from a pivot top found 27 days ago.)

Trading Expectations (BAZA3.SA) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Banco da Amazônia S.A. to open at R$95.92, and during the day (based on 14 day Average True Range), to move between R$93.72 and R$97.84, which gives a possible trading interval of +/-R$2.06 (+/-2.15%) up or down from last closing price. If Banco da Amazônia S.A. takes out the full calculated possible swing range there will be an estimated 4.30% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at R$96.99 (1.26%) than the support at R$91.20 (4.78%), 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 Banco da Amazônia S.A. stock A Buy?

Banco da Amazônia S.A. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.564 Hold/Accumulate Upgraded

Predicted Opening Price for Banco da Amazônia S.A. of Monday, May 20, 2024

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