Banco Santander SA Stock Forecast
Green day on Friday for Banco Santander SA stock after gaining 1.2048192771084%
(Updated on Dec 08, 2023)
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
The stock lies in the upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $4.21 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 14.25% during the next 3 months and, with a 90% probability hold a price between $4.33 and $4.81 at the end of this 3-month period.
SAN Signals & Forecast
The Banco Santander SA stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $4.16 and $3.90. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, October 31, 2023, and so far it has risen 15.70%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Maximize Your Market Edge: Go Premium for In-Depth AI-Powered Stock Research and Exclusive Lists! 🚀
Support, Risk & Stop-loss for Banco Santander SA stock
On the downside, the stock finds support just below today's level from accumulated volume at $3.79 and $3.66. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Banco Santander SA finds support just below today's level at $3.79. If this is broken, then the next support from accumulated volume will be at $3.66 and $3.65.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0600 between high and low, or 1.44%. For the last week, the stock has had daily average volatility of 1.24%.
Our recommended stop-loss: $4.07 (-3.12%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 27 days ago.)
Trading Expectations (SAN) For The Upcoming Trading Day Of Monday 11th
For the upcoming trading day on Monday, 11th we expect Banco Santander SA to open at $4.19, and during the day (based on 14 day Average True Range), to move between $4.14 and $4.26, which gives a possible trading interval of +/-$0.0649 (+/-1.55%) up or down from last closing price. If Banco Santander SA takes out the full calculated possible swing range there will be an estimated 3.09% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $3.79, some $0.410 (9.76%) from the current price of $4.20, our system finds the risk reward attractive.
Is Banco Santander SA 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 Banco Santander SA stock to perform well in the short-term.
Current score: 4.402 Open Broker Account
Buy Candidate UnchangedPredicted Opening Price for Banco Santander SA of Monday, December 11, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
| Fair opening price December 11, 2023 | Current price |
|---|---|
| $4.19 | $4.20 (Overvalued) |
Remember To Visit Our YouTube Channel
Trading levels for SAN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.25 | 1.27 % | |
| R2 | 4.23 | 0.724 % | ||
| R1 | 4.22 | 0.387 % | ||
| Current price: | 4.20 | |||
| Support | S1 | 4.17 | -0.704 % | |
| S2 | 4.16 | -1.04 % | ||
| S3 | 4.13 | -1.59 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 4.20 | |||
| Support | S1 | 3.79 | -9.76% | |
| S2 | 3.66 | -12.86% | ||
| S3 | 3.65 | -13.10% |
Click here for our free guide on how to buy Banco Santander SA Stock.
