Itau Unibanco Banco Holding SA Stock Forecast

Itau Unibanco Banco Holding SA stock price up 0.83% on Wednesday
(Updated on Apr 17, 2024)

ITUB Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 0.83%. Further rise is indicated until a new top pivot has been found. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Itau Unibanco Banco Holding SA 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 $6.31 and $6.72. 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).

Support, Risk & Stop-loss for Itau Unibanco Banco Holding SA stock

Itau Unibanco Banco Holding SA finds support from accumulated volume at $6.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.120 between high and low, or 2.02%. For the last week, the stock has had daily average volatility of 1.90%.

Itau Unibanco Banco Holding SA is oversold on RSI14 (21). 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 (ITUB) For The Upcoming Trading Day Of Thursday 18th

For the upcoming trading day on Thursday, 18th we expect Itau Unibanco Banco Holding SA to open at $6.02, and during the day (based on 14 day Average True Range), to move between $5.90 and $6.20, which gives a possible trading interval of +/-$0.153 (+/-2.53%) up or down from last closing price. If Itau Unibanco Banco Holding SA takes out the full calculated possible swing range there will be an estimated 5.06% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $6.00 (0.83%) than the resistance at $6.85 (13.22%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Itau Unibanco Banco Holding SA stock A Buy?

Itau Unibanco Banco Holding SA holds several negative signals and is within a 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: -1.226 Sell Candidate Unchanged

Predicted Opening Price for Itau Unibanco Banco Holding SA of Thursday, April 18, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.