Banco Santander, S.A. (NYSE:SAN) fell by -1.76% in Wednesday’s trading session from $6.82 to $6.70 The stock price went upward in 6 of the last 10 days, but has retreated -2.19% over the same course of time. There was a decrease in both volume and price. This is usually interpreted as a good sign as traders widely believe falling stock should see declining volume. Traded activity experienced a fall of -14.28 million shares and in total 5.16 M shares exchanged hands for about $34.55 million.
Inside SAN’s Recent Trend
Banco Santander, S.A. (SAN) with 90% probability for the price to range between $6.34 and $6.95 in this timeframe. Investors sometime notices large volume spikes after a breaking of the horizontal base, and stocks rarely experience a roller coaster ride from the bottom of a trend. Stocks jumping at a middle end of a horizontal base are therefore followed in search of a potential runner.
Banco Santander, S.A. Technical Signals
SAN has witnessed its short term MA triggering a sell signal. Meanwhile, however, the long-term average has generated a buy signal. When the short-run moving average rises above its longer-term trend, a buy signal is created. This is because a short-run moving average that crosses its long-run moving average counterpart is seen as the initiation of an upward trend. On additional rally, the share price will meet short term resistance at around $6.72. On a drop, the stock is likely to find some support over the long run, which begins at $6.64. A buy signal will be generated if it crosses above the short term moving average. Meanwhile, however, a price crossing below the long term moving average will generate a sell signal. Some other technical concerns emerged as well, putting in risk the future growth of the stock in the next couple of days. Its pivot point high generated sell signal on Tuesday October 10, 2017, which calls for additional declines until the stock forms a new pivot point low, as this could be a buying opportunity. The downbeat movement of both volume and price during the recent session is interpreted as a good sign because traders usually believe falling stock should see declining volume.
Banco Santander, S.A. (NYSE:SAN) Support And Resistance Levels
Banco Santander, S.A. (SAN) recorded volume accumulation so there will probably be a surplus of buyers at $6.62. In case of gains, the next resistance from accumulated volume will not be far away from today’s level at $6.74, $6.82 and $6.83.
Accumulated volume is going to prevent the price from rising further at $6.74 and this action will lead the price to take a temporary pause or stay muted for a few days.
Banco Santander, S.A. (SAN) Risk Assessment
The number of shares changed hands in the stock is good, indicating the interest and low risk associated with it. In the most recent session, the stock price hovered around $0.04 (0.60%) between intraday high and intraday low. Each day in the past 1 week, the average volatility remained at 1.81%.