Atlantica Yield plc Stock Forecast
Atlantica Yield plc stock upgraded to Buy Candidate.
(Updated on Mar 27, 2024)
The Atlantica Yield plc stock price fell by -0.329% on the last day (Wednesday, 27th Mar 2024) from $18.24 to $18.18. During the last trading day the stock fluctuated 1.58% from a day low at $18.09 to a day high of $18.38. The price has fallen in 5 of the last 10 days but is still up by 2.83% over the past 2 weeks. Volume has increased on the last day by 113 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, 702 thousand shares were bought and sold for approximately $12.77 million.
The stock lies the upper part of a falling 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 $18.18 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -16.74% during the next 3 months and, with a 90% probability hold a price between $14.07 and $15.14 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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AY Signals & Forecast
The Atlantica Yield plc 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 $17.83 and $18.13. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, March 19, 2024, and so far it has risen 5.33%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 Atlantica Yield plc stock
Atlantica Yield plc finds support from accumulated volume at $17.58 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 $0.285 (1.58%) between high and low. For the last week, the stock has had daily average volatility of 2.30%.
Our recommended stop-loss: $17.55 (-3.49%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (AY) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Atlantica Yield plc to open at $18.22, and during the day (based on 14 day Average True Range), to move between $17.72 and $18.64, which gives a possible trading interval of +/-$0.461 (+/-2.53%) up or down from last closing price. If Atlantica Yield plc takes out the full calculated possible swing range there will be an estimated 5.07% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $18.24 (0.33%) than the support at $17.58 (3.30%), 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 Atlantica Yield plc stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for 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: 1.221 Buy Candidate Upgraded
Predicted Opening Price for Atlantica Yield plc of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$18.22 ( 0.193%) | $18.18 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AY
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 18.50 | 1.76 % | |
R2 | 18.39 | 1.16 % | ||
R1 | 18.32 | 0.791 % | ||
Current price: | 18.18 | |||
Support | S1 | 18.11 | -0.406 % | |
S2 | 18.04 | -0.776 % | ||
S3 | 17.93 | -1.38 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 19.29 | 6.11 % | |
R2 | 18.44 | 1.43 % | ||
R1 | 18.24 | 0.330 % | ||
Current price | 18.18 | |||
Support | S1 | 17.58 | -3.30% | |
S2 | 17.43 | -4.13% | ||
S3 | 17.28 | -4.95% |
AY Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 01, 2024 | Mar 11, 2024 | Mar 22, 2024 | $0.445 | 2.45% |
2 | Nov 07, 2023 | Nov 29, 2023 | Dec 15, 2023 | $0.445 | 2.10% |
3 | Jul 31, 2023 | Aug 30, 2023 | Sep 15, 2023 | $0.445 | 1.94% |
4 | May 04, 2023 | May 30, 2023 | Jun 15, 2023 | $0.445 | 1.85% |
5 | Feb 28, 2023 | Mar 13, 2023 | Mar 25, 2023 | $0.445 | 1.62% |
FAQ
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