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- 1 AV stock price: The company gave a roller coaster ride to the shareholders over the years
- 2 The stock price is declining with a major downtrend, see the levels below
- 3 A breakout is possible if certain price actions take place
Aviva PLC (LON: AV) is an LSE-listed company that offers a range of long-term insurance and savings, general and health insurance, and fund management products and services. The company operates in exclusive regions like the UK, Europe, Canada, France, Italy, and Poland.
The Rollercoaster Ride of Investors
The AV stock investors were optimistic after the publication of the annual report in December 2021, which indicated a projected revenue growth of 2.91% in the upcoming year. The investors were thrilled with this news, and it boosted their confidence in the company’s future growth prospects.
However, their optimism was shattered when the 2022 earnings report was released. It revealed that the revenue was 27% less than the previous year, and the company was burning its own funds into the operations. As a result, the operating profit was negative. That impacted the AV stock price as after a few weeks of the annual report being released started to decline rapidly, dropping from £457 to £382 in less than five months
Technical Analysis and Prediction of the AV Stock Price
As of this writing, the AV stock price is trading at £374. the bulls rejected the bearish trend as it took off from the support level of £374 and made a new high with its resistance level of £401. However, this bullish rally was short-lived, destroying the hopes of investors. The stock price came down to the same support level as before.
Furthermore, the RSI is at 46, near the neutral level of 50. Meanwhile, the simple moving average (SMA ) line is hovering over the top at 57, which shows that the bulls are currently weak in strength.
Price prediction for AV stock
The AV stock price prediction will consider a few things. First, the demand zone has some volume as the bulls have rejected the bearish trend in the past. At present, as the stock has reached near the same resistance, the bearish rejection came again.
If the bulls can push the price to its resistance again, it may start a trend reversal. However, the bearish traders can also turn the tables around here. If the price exceeds the support, the next target will be the trend line.
Conclusion
Aviva PLC (LON: AV) is a listed company that has recently experienced significant revenue shortcomings. Due to the negative growth, many investors have exited the AV stock price, which is reflected in the prices. As of this writing, the stock has tried to make a trend reversal. It will only be confirmed if the bulls can reclaim the current support level.
Technical Levels
Support: £374, and £351
Resistance: £401, and £423
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Saurav Bhattacharjee is in charge of the Broadcast development team of The Coin Republic.
He has been covering the Metaverse and NFT niche for the past 2 years.
With stellar interviews on his portfolio like Nicehash, Paxful, WallstreetWolvesNFT, Bitholla, Totemfi, EOS.io etc. Saurav has spearheaded the NFT SUPERSTARS AWARD and successfully hosted the first award in 2021.
