Azul S.A. American Depositary Shares Stock Forecast
Red day on Friday for Azul S.A. American Depositary Shares stock after losing 0.345%
(Updated on Apr 19, 2024)
The Azul S.A. American Depositary Shares stock price fell by -0.345% on the last day (Friday, 19th Apr 2024) from $5.80 to $5.78. During the last trading day the stock fluctuated 4.39% from a day low at $5.70 to a day high of $5.95. The price has fallen in 7 of the last 10 days and is down by -24.54% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -3 million shares and in total, 2 million shares were bought and sold for approximately $12.30 million.
The stock has broken the very wide and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point ($6.46) are considered to be a "second chance" to get out. According to the fan-theory $4.57 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
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AZUL Signals & Forecast
There are few to no technical positive signals at the moment. The Azul S.A. American Depositary Shares 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 $6.27 and $7.51. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -29.85%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
A sell signal from a double top formation was found on Wednesday, March 20, 2024 and based on theory for this formation the price should fall by -4.37% to $5.53 within 37 trading days since signal was issued (Monday, April 22, 2024).
Support, Risk & Stop-loss for Azul S.A. American Depositary Shares stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.250 between high and low, or 4.39%. For the last week, the stock has had daily average volatility of 7.81%.
Azul S.A. American Depositary Shares is oversold on RSI14 (22). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AZUL) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Azul S.A. American Depositary Shares (each representing three preferred shares) to open at $5.81, and during the day (based on 14 day Average True Range), to move between $5.35 and $6.21, which gives a possible trading interval of +/-$0.431 (+/-7.45%) up or down from last closing price. If Azul S.A. American Depositary Shares (each representing three preferred shares) takes out the full calculated possible swing range there will be an estimated 14.91% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $5.80, some $0.0200 (0.35%) from the current price of $5.78, our system finds the risk reward not very attractive.
Is Azul S.A. American Depositary Shares (each representing three preferred shares) stock A Buy?
Azul S.A. American Depositary Shares holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -6.179 Strong Sell Candidate Unchanged
Predicted Opening Price for Azul S.A. American Depositary Shares (each representing three preferred shares) of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $5.81 ( 0.519%) | $5.78 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AZUL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.06 | 4.84 % | |
| R2 | 5.96 | 3.19 % | ||
| R1 | 5.91 | 2.17 % | ||
| Current price: | 5.78 | |||
| Support | S1 | 5.71 | -1.13 % | |
| S2 | 5.66 | -2.15 % | ||
| S3 | 5.56 | -3.81 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.57 | 13.67 % | |
| R2 | 6.04 | 4.50 % | ||
| R1 | 5.80 | 0.346 % | ||
| Current price | 5.78 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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