Companhia de saneamento Basico Do Estado Stock Forecast
Companhia de saneamento Basico Do Estado stock upgraded from Sell Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on Apr 24, 2024)
The Companhia de saneamento Basico Do Estado stock price fell by -0.682% on the last day (Wednesday, 24th Apr 2024) from $16.14 to $16.03. During the last trading day the stock fluctuated 1.55% from a day low at $15.86 to a day high of $16.10. The price has fallen in 6 of the last 10 days and is down by -2.73% 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 -103 thousand shares and in total, 599 thousand shares were bought and sold for approximately $9.60 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Companhia de saneamento Basico Do Estado stock with a 90% probability to be traded between $15.34 and $17.15 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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SBS Signals & Forecast
The Companhia de saneamento Basico Do Estado 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 $15.73 and $15.98. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, April 23, 2024, and so far it has fallen -0.682%. 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.
Support, Risk & Stop-loss for Companhia de saneamento Basico Do Estado stock
Companhia de saneamento Basico Do Estado finds support from accumulated volume at $16.01 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 $0.245 between high and low, or 1.55%. For the last week, the stock has had daily average volatility of 3.27%.
Our recommended stop-loss: $15.32 (-4.40%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (SBS) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp to open at $16.00, and during the day (based on 14 day Average True Range), to move between $15.58 and $16.48, which gives a possible trading interval of +/-$0.452 (+/-2.82%) up or down from last closing price. If Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp takes out the full calculated possible swing range there will be an estimated 5.64% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $16.05 (0.12%) than the support at $16.01 (0.12%), 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 Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp stock A Buy?
Companhia de saneamento Basico Do Estado holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.451 Hold/Accumulate Upgraded
Predicted Opening Price for Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $16.00 ( 0.218%) | $16.03 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SBS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.24 | 1.31 % | |
| R2 | 16.15 | 0.726 % | ||
| R1 | 16.09 | 0.366 % | ||
| Current price: | 16.03 | |||
| Support | S1 | 15.90 | -0.80 % | |
| S2 | 15.84 | -1.16 % | ||
| S3 | 15.75 | -1.75 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.48 | 2.81 % | |
| R2 | 16.06 | 0.187 % | ||
| R1 | 16.05 | 0.125 % | ||
| Current price | 16.03 | |||
| Support | S1 | 16.01 | -0.125% | |
| S2 | 15.74 | -1.81% | ||
| S3 | 15.49 | -3.37% |
SBS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 18, 2024 | Apr 26, 2024 | Jul 05, 2024 | $0.226 | 1.41% |
| 2 | Apr 21, 2023 | May 02, 2023 | Jul 06, 2023 | $0.253 | 2.26% |
| 3 | Apr 06, 2022 | Apr 29, 2022 | Jul 06, 2023 | $0.200 | 1.79% |
| 4 | Apr 08, 2021 | Apr 30, 2021 | Jul 08, 2021 | $0.0710 | 1.05% |
| 5 | Apr 24, 2020 | May 01, 2020 | Jul 06, 2020 | $0.252 | 2.29% |
FAQ
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