AFG Price Prediction Next Week
Technical Analysis: AFG's price has shown bearish momentum with RSI at 32.29, indicating oversold conditions. The MACD at -1.62 suggests a strong downward trend. The stock is trading below its 20-day SMA of $134.27, confirming the bearish sentiment.
News Impact: Recent analyst downgrade from Keefe Bruyette on February 7, 2025, lowering the price target from $164 to $144, citing concerns about limited reserve releases and high casualty loss picks pressuring earnings. The Q4 earnings report showed mixed results with EPS of $3.12 beating estimates but decreased from previous year.
Fibonacci Levels: Key support levels: S1: $127.55, S2: $124.25, S3: $118.90 Key resistance levels: R1: $138.24, R2: $141.54, R3: $146.88 Pivot point: $132.89
Price Prediction for Next Week: Based on technical indicators and recent analyst downgrade, AFG is likely to test the S2 support level at $124.25. The stock is currently trading at $125.72 and showing weakness. The probability of breaking below S2 is high due to:
- Bearish MACD
- Oversold RSI suggesting potential temporary bounce
- Recent analyst downgrade creating selling pressure
- Trading below key moving averages
Recommendation: SELL Target Price: $124.25 Stop Loss: $127.55
AFG Similar Chart Price Prediction
The price of AFG is predicted to go up -12.65%, based on the high correlation periods with OCUL. The similarity of these two price pattern on the periods is 92.42%.
AFG
OCUL
Down: -12.65%Similarity: 92.42%
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AFG Analyst's Forecast
Michael Zaremski
BMO Capital
Hold
2024-10-08
Price Target
$132 → $135
Downside
-0.53%
BMO Capital raised the firm's price target on American Financial Group to $135 from $132 and keeps a Market Perform rating on the shares as part of a broader research note on Property & Casualty Insurance names. The firm notes that while robust yield expectations have been one of the causes for corn/soy/wheat prices to have dropped by double-digit levels since winter/spring planting season, prices are not down enough relative to robust yields to trigger meaningful widespread crop insurance claims, the analyst tells investors in a research note. BMO adds that it is now embedding a 500bps better than "normal" crop insurance profitability forecast for American Financial Group.
