American Financial Group Inc Stock Forecast
American Financial Group Inc stock upgraded from Buy Candidate to Strong Buy Candidate after Wednesday trading session.
(Updated on Mar 27, 2024)
The American Financial Group Inc stock price gained 2.09% on the last trading day (Wednesday, 27th Mar 2024), rising from $134.00 to $136.80. During the last trading day the stock fluctuated 1.68% from a day low at $134.74 to a day high of $137.01. The price has risen in 7 of the last 10 days and is up by 4.94% over the past 2 weeks. Volume fell on the last day by -139 thousand shares and in total, 176 thousand shares were bought and sold for approximately $24.03 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock has broken the narrow and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $132.74, a level that may pose a second chance to hit a runner. According to fan-theory $137.64 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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AFG Signals & Forecast
Mostly positive signals in the chart today. The American Financial Group Inc 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 $133.41 and $127.80. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, February 01, 2024, and so far it has risen 16.45%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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.
Support, Risk & Stop-loss for American Financial Group Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $127.37 and $122.24. 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, American Financial Group Inc finds support just below today's level at $127.37. If this is broken, then the next support from accumulated volume will be at $122.24 and $120.63.
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 $2.27 between high and low, or 1.68%. For the last week the stock has had daily average volatility of 1.53%.
Our recommended stop-loss: $132.67 (-3.02%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 38 days ago.)
Trading Expectations (AFG) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect American Financial Group Inc to open at $136.18, and during the day (based on 14 day Average True Range), to move between $134.73 and $138.87, which gives a possible trading interval of +/-$2.07 (+/-1.51%) up or down from last closing price. If American Financial Group Inc takes out the full calculated possible swing range there will be an estimated 3.02% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $127.37, some $9.43 (6.89%) from the current price of $136.80, our system finds the risk reward attractive.
Is American Financial Group Inc stock A Buy?
Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for American Financial Group Inc stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 6.156 Strong Buy Candidate Upgraded
Predicted Opening Price for American Financial Group Inc of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$136.18 ( 0.451%) | $136.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AFG
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 138.45 | 1.21 % | |
R2 | 137.59 | 0.575 % | ||
R1 | 137.05 | 0.183 % | ||
Current price: | 136.80 | |||
Support | S1 | 135.32 | -1.08 % | |
S2 | 134.78 | -1.48 % | ||
S3 | 133.91 | -2.11 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 136.80 | |||
Support | S1 | 127.37 | -6.89% | |
S2 | 122.24 | -10.64% | ||
S3 | 120.63 | -11.82% |
AFG Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 06, 2024 | Feb 15, 2024 | Feb 28, 2024 | $2.50 | 1.97% |
2 | Jan 02, 2024 | Jan 11, 2024 | Jan 25, 2024 | $0.710 | 0.590% |
3 | Nov 01, 2023 | Nov 10, 2023 | Nov 22, 2023 | $1.50 | 1.34% |
4 | Nov 01, 2023 | Nov 09, 2023 | Nov 22, 2023 | $1.50 | 1.34% |
5 | Oct 02, 2023 | Oct 12, 2023 | Oct 25, 2023 | $0.710 | 0.655% |
FAQ
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