Companhia de Saneamento Básico do Stock Forecast
Red day on Friday for Companhia de Saneamento Básico do stock after losing 1.48%
(Updated on May 17, 2024)
The Companhia de Saneamento Básico do stock price fell by -1.48% on the last day (Friday, 17th May 2024) from R$79.74 to R$78.56. During the last trading day the stock fluctuated 1.38% from a day low at R$78.51 to a day high of R$79.59. The price has risen in 6 of the last 10 days but is still down by -2.77% for this period. Volume has increased on the last day by 42 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, 3 million shares were bought and sold for approximately R$223.28 million.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at R$76.90 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Companhia de Saneamento Básico do stock with a 90% probability to be traded between R$78.08 and R$86.86 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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SBSP3.SA Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, May 10, 2024, and so far it has risen 0.191%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Companhia de Saneamento Básico do 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$78.95 and R$81.57. A break-up above any of these levels will issue buy signals. 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 Companhia de Saneamento Básico do stock
Companhia de Saneamento Básico do finds support from accumulated volume at R$78.41 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$1.08 (1.38%) between high and low. For the last week, the stock has had daily average volatility of 1.38%.
Our recommended stop-loss: R$74.32 (-5.40%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (SBSP3.SA) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Companhia de Saneamento Básico do Estado de São Paulo - SABESP to open at R$78.89, and during the day (based on 14 day Average True Range), to move between R$77.09 and R$80.03, which gives a possible trading interval of +/-R$1.47 (+/-1.87%) up or down from last closing price. If Companhia de Saneamento Básico do Estado de São Paulo - SABESP takes out the full calculated possible swing range there will be an estimated 3.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at R$78.41 (0.19%) than the resistance at R$80.29 (2.20%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Companhia de Saneamento Básico do Estado de São Paulo - SABESP stock A Buy?
Companhia de Saneamento Básico do 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: -0.917 Hold/Accumulate Unchanged
Predicted Opening Price for Companhia de Saneamento Básico do Estado de São Paulo - SABESP of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| R$78.89 ( 0.416%) | R$78.56 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SBSP3.SA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 79.97 | 1.79 % | |
| R2 | 79.55 | 1.27 % | ||
| R1 | 79.30 | 0.94 % | ||
| Current price: | 78.56 | |||
| Support | S1 | 78.47 | -0.109 % | |
| S2 | 78.22 | -0.434 % | ||
| S3 | 77.81 | -0.96 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 84.49 | 7.55 % | |
| R2 | 82.77 | 5.36 % | ||
| R1 | 80.29 | 2.20 % | ||
| Current price | 78.56 | |||
| Support | S1 | 78.41 | -0.191% | |
| S2 | 78.10 | -0.586% | ||
| S3 | 76.01 | -3.25% |
SBSP3 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 26, 2024 | Apr 26, 2024 | Jun 24, 2024 | R$1.44 | 1.83% |
| 2 | May 02, 2023 | May 02, 2023 | May 02, 2023 | R$1.28 | 2.92% |
| 3 | Apr 29, 2022 | Apr 29, 2022 | Apr 29, 2022 | R$0.94 | 2.22% |
| 4 | Apr 30, 2021 | Apr 30, 2021 | Apr 30, 2021 | R$0.398 | 0.99% |
| 5 | Apr 29, 2020 | Apr 29, 2020 | Apr 29, 2020 | R$1.38 | 3.60% |
FAQ
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