AstraZeneca PLC Stock Forecast
AstraZeneca PLC stock upgraded to Strong Buy Candidate.
(Updated on Apr 24, 2024)
The AstraZeneca PLC stock price gained 0.745% on the last trading day (Wednesday, 24th Apr 2024), rising from £11,268.00 to £11,352.00. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.10% from a day low at £11,288.00 to a day high of £11,412.00. The price has risen in 7 of the last 10 days and is up by 5.78% over the past 2 weeks. Volume fell on the last day by -981 thousand shares and in total, 2 million shares were bought and sold for approximately £25.19 billion. 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 lies in the upper part of a wide and weak 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 £11,426.38 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 8.38% during the next 3 months and, with a 90% probability hold a price between £11,068.65 and £12,383.47 at the end of this 3-month period.
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AZN.L Signals & Forecast
Mostly positive signals in the chart today. The AstraZeneca PLC 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 £11,067.14 and £10,618.29. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, February 12, 2024, and so far it has risen 19.48%. 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 AstraZeneca PLC stock
On the downside, the stock finds support just below today's level from accumulated volume at £10,450.00 and £10,036.00. 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, AstraZeneca PLC finds support just below today's level at £10,450.00. If this is broken, then the next support from accumulated volume will be at £10,036.00 and £9,724.00.
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 £124.00 (1.10%) between high and low. For the last week, the stock has had daily average volatility of 1.67%.
Our recommended stop-loss: £11,009.17 (-3.02%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 50 days ago.)
Trading Expectations (AZN.L) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect AstraZeneca PLC to open at £11,350.67, and during the day (based on 14 day Average True Range), to move between £11,165.09 and £11,538.91, which gives a possible trading interval of +/-£186.91 (+/-1.65%) up or down from last closing price. If AstraZeneca PLC takes out the full calculated possible swing range there will be an estimated 3.29% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ £10,450.00, some £902.00 (7.95%) from the current price of £11,352.00, our system finds the risk reward attractive.
Earnings coming up
AstraZeneca PLC will release earnings BMO on Thursday, April 25, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.54. We will update the financials statements for AstraZeneca PLC, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.40% in the first trading day after earnings release.
Is AstraZeneca PLC stock A Buy?
AstraZeneca PLC holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 6.782 Strong Buy Candidate Upgraded
Predicted Opening Price for AstraZeneca PLC of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| £11,350.67 ( 0.0117%) | £11,352.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AZN.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11,474.67 | 1.08 % | |
| R2 | 11,427.30 | 0.663 % | ||
| R1 | 11,398.03 | 0.406 % | ||
| Current price: | 11,352.00 | |||
| Support | S1 | 11,303.30 | -0.429 % | |
| S2 | 11,274.03 | -0.687 % | ||
| S3 | 11,226.67 | -1.10 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 11,352.00 | |||
| Support | S1 | 10,450.00 | -7.95% | |
| S2 | 10,036.00 | -11.59% | ||
| S3 | 9,724.00 | -14.34% |
AZN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 22, 2024 | Feb 22, 2024 | Mar 25, 2024 | £156.00 | 1.50% |
| 2 | Feb 09, 2023 | Feb 23, 2023 | Mar 27, 2023 | £162.80 | 1.45% |
| 3 | Jul 29, 2022 | Aug 11, 2022 | Sep 12, 2022 | £76.40 | 0.719% |
| 4 | Feb 10, 2022 | Feb 24, 2022 | Mar 28, 2022 | £145.30 | 1.47% |
| 5 | Jul 29, 2021 | Aug 12, 2021 | Sep 13, 2021 | £64.80 | 0.80% |
FAQ
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