Aviva Share Price Forecast: Don’t Get Tricked by the Bounce

    The aviva share price is now rebounding following a significant sell-off in May 2023. Over the past several days, the shares of this massive insurance and Pension Company have been increasing. We are still not convinced that this bounce will last, given the technical point to further negative.

    The FTSE 100 index, the industry standard for UK stocks, had a solid start to the week after rising 30 points on Monday. The share price aviva started lower, but the price movement changed for the better as the day went on. As of publication, the stock was up 0.18% and trading at 410p.

    Aviva’s Insider Transactions Over the Past 12 Months

    The largest single insider buys in the previous year occurred when Group CEO & Executive Director Amanda Blanc purchased shares for UK£100k at aviva share price uk £3.89. We usually want to see insider buying. But it is important to note if those purchases were made at a price much below the share price at which they were made today since the discount to value may have shrunk as the price increased.

    This indicates that an insider was content to purchase shares at aviva share price lse close to the current level of UK£4.23. This suggests they had faith in the company’s future, even though their opinion may have altered after the purchase.

    The fact that insiders were purchasing at or close to the present price is excellent news for Aviva stockholders. Insiders at Aviva purchased shares last year but did not sell them.

    Aviva Buys Back Stock Worth £300

    According to the most current Aviva Plc news, the business has finished its £300 million share purchase scheme. During this procedure, 72.8 million shares were purchased for a great amount of 412p each.

    Amanda Blanc, the CEO of Aviva, recently declared that the firm would continue to liquidate non-core operations in its 2022 results. The company’s eight operations in Italy, Turkey, Singapore, France, and Poland have been sold since she joined. However, the aviva share price has continued to decline.

    Aviva Share Price Relieves Bounce

    The current decline in Aviva plc is not at all unexpected because our study has consistently predicted this. It has since been perfectly reached. Several coincidences pointed in this direction.

    Until the shares retake the 430p level, our Aviva share price projection will remain negative. The most likely scenario is the Aretest of the 375p-385p level in the upcoming weeks. On a longer time horizon, we anticipate that the aviva share price will continue to trade in the 384p–475p range in the upcoming months.

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