Banco Santander, S.A. Stock Forecast
Banco Santander, S.A. stock downgraded to Strong Sell Candidate
(Updated on Jun 21, 2024)
The Banco Santander, S.A. stock price fell by -2.38% on the last day (Friday, 21st Jun 2024) from 4.44€ to 4.34€. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 3.23% from a day low at 4.29€ to a day high of 4.43€. The price has fallen in 7 of the last 10 days and is down by -8.42% for this period. Volume has increased on the last day by 83 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 132 thousand shares were bought and sold for approximately 570.80€ thousand.
The stock has broken the wide and weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at 4.44€. A reaction back to this level may hold a second chance to get out before further falls.
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BSD2.F Signals & Forecast
There are few to no technical positive signals at the moment. The Banco Santander, 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 4.41€ and 4.68€. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 20, 2024, and so far it has fallen -11.13%. 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). Banco Santander, S.A. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
A sell signal from a double top formation was found on Monday, May 20, 2024 with a target of 4.50€. Despite whether the objective of the signal formation has been reached the stock may continue to fall.
Support, Risk & Stop-loss for Banco Santander, S.A. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 0.139€ between high and low, or 3.23%. For the last week, the stock has had daily average volatility of 1.71%.
Banco Santander, S.A. is oversold on RSI14 (20). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BSD2.F) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Banco Santander, S.A. to open at 4.35€, and during the day (based on 14 day Average True Range), to move between 4.25€ and 4.43€, which gives a possible trading interval of +/-0.0906€ (+/-2.09%) up or down from last closing price. If Banco Santander, S.A. takes out the full calculated possible swing range there will be an estimated 4.18% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ 4.36€, some 0.0245€ (0.56%) from the current price of 4.34€, our system finds the risk reward not very attractive.
Is Banco Santander, S.A. stock A Buy?
The Banco Santander, S.A. stock holds several negative signals and despite the positive trend, we believe Banco Santander, S.A. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Sell candidate.
Current score: -6.178 Strong Sell Candidate Downgraded
Predicted Opening Price for Banco Santander, S.A. of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| 4.35€ ( 0.357%) | 4.34€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BSD2.F
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.49 | 3.55% |
| R2 | 4.44 | 2.33% |
| R1 | 4.40 | 1.58% |
| Price | 4.34 | |
| S1 | 4.30 | -0.86% |
| S2 | 4.27 | -1.62% |
| S3 | 4.21 | -2.84% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.60 | 6.06% |
| R2 | 4.36 | 0.646% |
| R1 | 4.36 | 0.565% |
| Price | 4.34 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
BSD2 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 29, 2024 | Apr 29, 2024 | Apr 29, 2024 | 0.0656€ | 0% |
| 2 | Oct 31, 2023 | Oct 31, 2023 | Nov 02, 2023 | 0.0810€ | 0% |
| 3 | Apr 27, 2023 | Apr 27, 2023 | Apr 27, 2023 | 0.0595€ | 0% |
| 4 | Oct 06, 2022 | Oct 31, 2022 | Nov 07, 2022 | 0.0583€ | 0% |
| 5 | Apr 28, 2022 | Apr 28, 2022 | Apr 28, 2022 | 0.0515€ | 0% |
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