Porto Seguro S.A. Stock Forecast
Porto Seguro S.A. stock downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on May 03, 2024)
The Porto Seguro S.A. stock price gained 0.234% on the last trading day (Friday, 3rd May 2024), rising from R$29.87 to R$29.94. During the last trading day the stock fluctuated 1.51% from a day low at R$29.78 to a day high of R$30.23. The price has fallen in 5 of the last 10 days but is still up by 1.08% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately R$97.09 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at R$29.51 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 13.64% during the next 3 months and, with a 90% probability hold a price between R$33.53 and R$38.24 at the end of this 3-month period.
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PSSA3.SA Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Porto Seguro 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$30.00 and R$30.60. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 20, 2024, and so far it has fallen -5.25%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Porto Seguro S.A. stock
Porto Seguro S.A. finds support from accumulated volume at R$29.18 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 R$0.450 (1.51%) between high and low. For the last week, the stock has had daily average volatility of 1.39%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PSSA3.SA) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Porto Seguro S.A. to open at R$29.98, and during the day (based on 14 day Average True Range), to move between R$29.44 and R$30.44, which gives a possible trading interval of +/-R$0.505 (+/-1.69%) up or down from last closing price. If Porto Seguro S.A. takes out the full calculated possible swing range there will be an estimated 3.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at R$30.30 (1.20%) than the support at R$29.18 (2.54%), 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 Porto Seguro S.A. stock A Buy?
The Porto Seguro S.A. stock holds several negative signals and despite the positive trend, we believe Porto Seguro S.A. will perform weakly in the next couple of days or weeks. Therefore, we 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: -3.052 Sell Candidate Downgraded
Predicted Opening Price for Porto Seguro S.A. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| R$29.98 ( 0.145%) | R$29.94 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PSSA3.SA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 30.43 | 1.65 % | |
| R2 | 30.26 | 1.07 % | ||
| R1 | 30.16 | 0.719 % | ||
| Current price: | 29.94 | |||
| Support | S1 | 29.81 | -0.429 % | |
| S2 | 29.71 | -0.784 % | ||
| S3 | 29.53 | -1.36 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 30.87 | 3.11 % | |
| R2 | 30.39 | 1.50 % | ||
| R1 | 30.30 | 1.20 % | ||
| Current price | 29.94 | |||
| Support | S1 | 29.18 | -2.54% | |
| S2 | 27.65 | -7.65% | ||
| S3 | 26.49 | -11.52% |
PSSA3 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 01, 2024 | Apr 01, 2024 | Apr 01, 2024 | R$0 | 0% |
| 2 | Dec 28, 2023 | Dec 28, 2023 | Dec 28, 2023 | R$0.530 | 1.87% |
| 3 | Sep 29, 2023 | Sep 29, 2023 | Sep 29, 2023 | R$0.292 | 1.14% |
| 4 | Jul 03, 2023 | Jul 03, 2023 | Jul 03, 2023 | R$0.589 | 2.15% |
| 5 | Jun 30, 2023 | Jun 30, 2023 | Jun 30, 2023 | R$0.589 | 2.19% |
FAQ
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