QBE Insurance Group Limited Stock Forecast

Stronger technical forecast for QBE Insurance Group Limited stock price after Wednesday trading.
(Updated on Apr 24, 2024)

QBE.AX Signals & Forecast

The QBE Insurance Group Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $17.49 and $17.60. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -2.25%. 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). The stock had a Golden Star Signal on Friday, November 24, 2023 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 QBE Insurance Group Limited stock

QBE Insurance Group Limited finds support from accumulated volume at $17.56 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 $0.210 between high and low, or 1.19%. For the last week the stock has had daily average volatility of 1.49%.

Our recommended stop-loss: $17.01 (-4.39%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 15 days ago.)

Trading Expectations (QBE.AX) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect QBE Insurance Group Limited to open at $17.76, and during the day (based on 14 day Average True Range), to move between $17.48 and $18.10, which gives a possible trading interval of +/-$0.312 (+/-1.75%) up or down from last closing price. If QBE Insurance Group Limited takes out the full calculated possible swing range there will be an estimated 3.50% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $17.81 (0.11%) than the support at $17.56 (1.29%), 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 QBE Insurance Group Limited 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 QBE Insurance Group Limited stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.099 Buy Candidate Upgraded

Predicted Opening Price for QBE Insurance Group Limited of Friday, April 26, 2024

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