Itaú Unibanco Holding S.A. Stock Forecast
Itaú Unibanco Holding S.A. stock price down 0.96% on Friday
(Updated on May 31, 2024)
The Itaú Unibanco Holding S.A. stock price fell by -0.96% on the last day (Friday, 31st May 2024) from R$27.21 to R$26.95. It has now fallen 9 days in a row. During the last trading day the stock fluctuated 1.67% from a day low at R$26.89 to a day high of R$27.34. The price has fallen in 9 of the last 10 days and is down by -5.87% for this period. Volume has increased on the last day by 15 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, 361 thousand shares were bought and sold for approximately R$9.73 million.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -7.13% during the next 3 months and, with a 90% probability hold a price between R$24.65 and R$26.41 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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ITUB3.SA Signals & Forecast
There are few to no technical positive signals at the moment. The Itaú Unibanco Holding 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 R$27.43 and R$27.90. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 14, 2024, and so far it has fallen -6.62%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Itaú Unibanco Holding 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.
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 R$0.450 between high and low, or 1.67%. For the last week the stock has had daily average volatility of 1.41%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ITUB3.SA) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Itaú Unibanco Holding S.A. to open at R$27.06, and during the day (based on 14 day Average True Range), to move between R$26.50 and R$27.40, which gives a possible trading interval of +/-R$0.451 (+/-1.67%) up or down from last closing price. If Itaú Unibanco Holding S.A. takes out the full calculated possible swing range there will be an estimated 3.35% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ R$28.49, some R$1.54 (5.71%) from the current price of R$26.95, our system finds the risk reward not very attractive.
Is Itaú Unibanco Holding S.A. stock A Buy?
Itaú Unibanco Holding S.A. holds several negative signals and is within a 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.
Current score: -4.832 Sell Candidate Unchanged
Predicted Opening Price for Itaú Unibanco Holding S.A. of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| R$27.06 ( 0.408%) | R$26.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ITUB3.SA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 27.51 | 2.08 % | |
| R2 | 27.34 | 1.44 % | ||
| R1 | 27.23 | 1.05 % | ||
| Current price: | 26.95 | |||
| Support | S1 | 26.89 | -0.230 % | |
| S2 | 26.78 | -0.624 % | ||
| S3 | 26.61 | -1.26 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 29.64 | 9.98 % | |
| R2 | 29.61 | 9.87 % | ||
| R1 | 28.49 | 5.71 % | ||
| Current price | 26.95 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
ITUB3 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 02, 2024 | Sep 02, 2024 | Oct 01, 2024 | R$0.0150 | 0.0557% |
| 2 | Aug 01, 2024 | Aug 01, 2024 | Sep 02, 2024 | R$0.0150 | 0.0557% |
| 3 | Jul 01, 2024 | Jul 01, 2024 | Aug 01, 2024 | R$0.0150 | 0.0557% |
| 4 | Jun 03, 2024 | Jun 03, 2024 | Jul 01, 2024 | R$0.0150 | 0.0557% |
| 5 | May 02, 2024 | May 02, 2024 | Jun 03, 2024 | R$0.0150 | 0.0557% |
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