QBE Insurance Group Limited Stock Forecast

Red day on Friday for QBE Insurance Group Limited stock after losing 0.631%
(Updated on May 03, 2024)

QBE.AX Signals & Forecast

There are few to no technical positive signals at the moment. The QBE Insurance 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 $17.61 and $17.69. 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 03, 2024, and so far it has fallen -4.78%. 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. 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 $17.29 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 $0.240 between high and low, or 1.39%. For the last week the stock has had daily average volatility of 1.48%.

Our recommended stop-loss: $16.75 (-3.36%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 21 days ago.)

Trading Expectations (QBE.AX) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect QBE Insurance Group Limited to open at $17.35, and during the day (based on 14 day Average True Range), to move between $17.03 and $17.63, which gives a possible trading interval of +/-$0.297 (+/-1.71%) 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 3.42% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $17.29 (0.23%) than the resistance at $17.43 (0.58%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is QBE Insurance Group Limited stock A Buy?

QBE Insurance Group Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: -0.625 Hold/Accumulate Unchanged

Predicted Opening Price for QBE Insurance Group Limited of Monday, May 6, 2024

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