BAE Systems plc Stock Forecast

BAE Systems plc stock upgraded from Strong Sell Candidate to Strong Buy Candidate after Friday trading session.
(Updated on Apr 26, 2024)

BSP.F Signals & Forecast

Mostly positive signals in the chart today. 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 15.61€ and 15.57€. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 10, 2024, and so far it has risen 5.98%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched 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.

Support, Risk & Stop-loss for BAE Systems plc stock

BAE Systems plc finds support from accumulated volume at 15.52€ 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 0.455€ (2.95%) between high and low. For the last week, the stock has had daily average volatility of 2.95%.

Our recommended stop-loss: 15.06€ (-4.52%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 12 days ago.)

Trading Expectations (BSP.F) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect BAE Systems plc to open at 15.69€, and during the day (based on 14 day Average True Range), to move between 15.38€ and 16.17€, which gives a possible trading interval of +/-0.394€ (+/-2.50%) up or down from last closing price. If BAE Systems plc takes out the full calculated possible swing range there will be an estimated 4.99% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 15.82€ (0.25%) than the support at 15.52€ (1.65%), 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 BAE Systems plc stock A Buy?

BAE Systems plc holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Strong Buy candidate.

Current score: 7.084 Strong Buy Candidate Upgraded

Predicted Opening Price for BAE Systems plc of Monday, April 29, 2024

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