BAE Systems plc Stock Forecast
BAE Systems plc stock downgraded from Strong Buy Candidate to Buy Candidate after Tuesday trading session.
(Updated on May 07, 2024)
The BAE Systems plc stock price fell by -0.247% on the last day (Tuesday, 7th May 2024) from 16.23€ to 16.19€. During the last trading day the stock fluctuated 1.38% from a day low at 15.97€ to a day high of 16.19€. The price has risen in 6 of the last 10 days and is up by 4.76% over the past 2 weeks. Volume has increased on the last day by 47 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, 120 thousand shares were bought and sold for approximately 1.95€ million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 9.40% during the next 3 months and, with a 90% probability hold a price between 16.76€ and 18.54€ at the end of this 3-month period.
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BSP.DE Signals & Forecast
The BAE Systems plc 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 15.96€ and 15.72€. 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 Monday, May 06, 2024, and so far it has fallen -0.247%. 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 Monday, April 22, 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.
Golden Star
The stock had a Golden Star Signal on Monday, April 22, 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.
A sell signal from a double top formation was found on Monday, May 06, 2024 and based on theory for this formation the price should fall by -10.81% to 14.43€ within 26 trading days since signal was issued (Wednesday, May 08, 2024).
Support, Risk & Stop-loss for BAE Systems plc stock
BAE Systems plc finds support from accumulated volume at 16.12€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved 0.220€ (1.38%) between high and low. For the last week, the stock has had daily average volatility of 1.66%.
Our recommended stop-loss: 15.72€ (-2.89%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (BSP.DE) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect BAE Systems plc to open at 16.11€, and during the day (based on 14 day Average True Range), to move between 15.83€ and 16.54€, which gives a possible trading interval of +/-0.356€ (+/-2.20%) up or down from last closing price. If BAE Systems plc takes out the full calculated possible swing range there will be an estimated 4.40% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 16.21€ (0.12%) than the support at 16.12€ (0.40%), 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.
Earnings coming up
BAE Systems plc will release earnings BMO on Thursday, May 09, 2024. We will update the financials statements for BAE Systems plc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 1.63% in the first trading day after earnings release.
Is BAE Systems plc 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 BAE Systems plc stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 2.766 Buy Candidate Downgraded
Predicted Opening Price for BAE Systems plc of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| 16.11€ ( 0.453%) | 16.19€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BSP.DE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.33 | 0.91 % | |
| R2 | 16.25 | 0.387 % | ||
| R1 | 16.20 | 0.0662 % | ||
| Current price: | 16.19 | |||
| Support | S1 | 16.03 | -0.97 % | |
| S2 | 15.98 | -1.29 % | ||
| S3 | 15.89 | -1.81 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.29 | 0.649 % | |
| R2 | 16.23 | 0.247 % | ||
| R1 | 16.21 | 0.124 % | ||
| Current price | 16.19 | |||
| Support | S1 | 16.12 | -0.402% | |
| S2 | 15.72 | -2.87% | ||
| S3 | 15.52 | -4.14% |
BSP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 18, 2024 | Apr 18, 2024 | Jun 03, 2024 | 0.217€ | 1.35% |
| 2 | Apr 20, 2023 | Apr 20, 2023 | Apr 20, 2023 | 0.166€ | 1.41% |
| 3 | Oct 20, 2022 | Oct 20, 2022 | Oct 20, 2022 | 0.104€ | 1.11% |
| 4 | Apr 21, 2022 | Apr 21, 2022 | Apr 21, 2022 | 0.152€ | 1.73% |
| 5 | Oct 21, 2021 | Oct 21, 2021 | Oct 21, 2021 | 0.0990€ | 1.41% |
FAQ
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