Banco Santander, S.A. Stock Forecast

Banco Santander, S.A. stock downgraded from Hold/Accumulate to Sell Candidate after Wednesday trading session.
(Updated on Jun 26, 2024)

BSD2.F Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, June 21, 2024, and so far it has risen 0.300%. 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 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 4.40€ and 4.66€. A break-up above any of these levels will issue buy signals. 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".

Sell

Special Signal Notification

Double Top Formation

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

Banco Santander, S.A. finds support from accumulated volume at 4.34€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 0.0705€ between high and low, or 1.63%. For the last week, the stock has had daily average volatility of 1.85%.

Banco Santander, S.A. is oversold on RSI14 (23). 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 Thursday 27th

For the upcoming trading day on Thursday, 27th we expect Banco Santander, S.A. to open at 4.36€, and during the day (based on 14 day Average True Range), to move between 4.26€ and 4.44€, which gives a possible trading interval of +/-0.0873€ (+/-2.01%) 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 4.01% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at 4.34€ (0.30%) than the resistance at 4.36€ (0.34%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Banco Santander, S.A. stock A Buy?

Banco Santander, S.A. holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore 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 Sell candidate.

Current score: -1.397 Sell Candidate Downgraded

Predicted Opening Price for Banco Santander, S.A. of Thursday, June 27, 2024

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