Insurance Australia Group Limited Stock Forecast

Red day on Thursday for Insurance Australia Group Limited stock after losing 0%
(Updated on May 09, 2024)

IAG.AX Signals & Forecast

There are few to no technical positive signals at the moment. The Insurance Australia Group Limited 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 $6.39 and $6.39. 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 24, 2024, and so far it has fallen -3.06%. 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 during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days. The stock had a Golden Star Signal on Friday, January 05, 2024 in the long-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 Insurance Australia Group Limited stock

Insurance Australia Group Limited finds support from accumulated volume at $6.32 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.1000 between high and low, or 1.58%. For the last week the stock has had daily average volatility of 1.80%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (IAG.AX) For The Upcoming Trading Day Of Friday 10th

For the upcoming trading day on Friday, 10th we expect Insurance Australia Group Limited to open at $6.36, and during the day (based on 14 day Average True Range), to move between $6.22 and $6.44, which gives a possible trading interval of +/-$0.112 (+/-1.78%) up or down from last closing price. If Insurance Australia Group Limited takes out the full calculated possible swing range there will be an estimated 3.55% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $6.32 (0.16%) than the resistance at $6.40 (1.11%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Insurance Australia Group Limited stock A Buy?

The Insurance Australia Group Limited stock holds several negative signals and despite the positive trend, we believe Insurance Australia Group Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -1.831 Sell Candidate Unchanged

Predicted Opening Price for Insurance Australia Group Limited of Friday, May 10, 2024

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