Sanofi Stock Forecast
Strong day for Sanofi stock price on Thursday rising 5.90% to $49.36
(Updated on Apr 25, 2024)
The Sanofi stock price gained 5.90% on the last trading day (Thursday, 25th Apr 2024), rising from $46.61 to $49.36. During the last trading day the stock fluctuated 2.43% from a day low at $48.65 to a day high of $49.83. The price has risen in 6 of the last 10 days and is up by 5.92% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 5 million more shares were traded than the day before. In total, 6 million shares were bought and sold for approximately $319.33 million.
The stockis at the upper part of a horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $49.47 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Sanofi stock with a 90% probability to be traded between $44.32 and $48.64 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. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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SNY Signals & Forecast
The Sanofi 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 $46.94 and $47.67. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 8.75%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Sanofi stock
Sanofi finds support from accumulated volume at $47.15 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.18 (2.43%) between high and low. For the last week, the stock has had daily average volatility of 2.44%.
Our recommended stop-loss: $47.49 (-3.78%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (SNY) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Sanofi to open at $49.28, and during the day (based on 14 day Average True Range), to move between $48.31 and $50.41, which gives a possible trading interval of +/-$1.05 (+/-2.12%) up or down from last closing price. If Sanofi takes out the full calculated possible swing range there will be an estimated 4.24% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $49.44 (0.16%) than the support at $47.15 (4.48%), 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 Sanofi stock A Buy?
Sanofi 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: 0.967 Hold/Accumulate Upgraded
Predicted Opening Price for Sanofi of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $49.28 ( 0.162%) | $49.36 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SNY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 50.46 | 2.23 % | |
| R2 | 50.01 | 1.32 % | ||
| R1 | 49.73 | 0.751 % | ||
| Current price: | 49.36 | |||
| Support | S1 | 48.83 | -1.08 % | |
| S2 | 48.55 | -1.64 % | ||
| S3 | 48.10 | -2.55 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 49.75 | 0.790 % | |
| R2 | 49.54 | 0.365 % | ||
| R1 | 49.44 | 0.162 % | ||
| Current price | 49.36 | |||
| Support | S1 | 47.15 | -4.48% | |
| S2 | 45.80 | -7.21% | ||
| S3 | 45.39 | -8.04% |
SNY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 26, 2024 | May 09, 2024 | Jun 06, 2024 | $1.90 | 3.85% |
| 2 | Aug 06, 2023 | May 30, 2023 | Jun 23, 2023 | $1.90 | 3.57% |
| 3 | Feb 15, 2023 | May 25, 2023 | Jun 23, 2023 | $1.38 | 2.59% |
| 4 | May 26, 2022 | May 26, 2022 | May 26, 2022 | $0.297 | 0.535% |
| 5 | Apr 22, 2022 | May 04, 2022 | Jun 08, 2022 | $1.75 | 3.30% |
FAQ
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