Enertime SA Stock Forecast
Weaker technical forecast for Enertime SA as stock downgraded to Hold/Accumulate.
(Updated on May 22, 2024)
The Enertime SA stock price fell by -2.13% on the last day (Wednesday, 22nd May 2024) from 0.399€ to 0.390€. During the last trading day the stock fluctuated 5.26% from a day low at 0.380€ to a day high of 0.400€. The price has fallen in 5 of the last 10 days but is still up by 21.88% over the past 2 weeks. Volume has increased on the last day by 541 shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 129 thousand shares were bought and sold for approximately 50.13€ thousand.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at 0.395€ will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -33.28% during the next 3 months and, with a 90% probability hold a price between 0.168€ and 0.264€ at the end of this 3-month period. 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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ALENE.PA Signals & Forecast
The Enertime SA 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 0.372€ and 0.381€. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, May 21, 2024, and so far it has fallen -2.13%. Further fall is indicated until a new bottom pivot has been found. Enertime SA gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Enertime SA stock
Enertime SA finds support from accumulated volume at 0.380€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved 0.0200€ between high and low, or 5.26%. For the last week, the stock has had daily average volatility of 6.55%.
Our recommended stop-loss: 0.378€ (-3.14%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 12 days ago.)
Trading Expectations (ALENE.PA) For The Upcoming Trading Day Of Thursday 23rd
For the upcoming trading day on Thursday, 23rd we expect Enertime SA to open at 0.390€, and during the day (based on 14 day Average True Range), to move between 0.359€ and 0.421€, which gives a possible trading interval of +/-0.0310€ (+/-7.94%) up or down from last closing price. If Enertime SA takes out the full calculated possible swing range there will be an estimated 15.88% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 0.400€ (2.56%) than the support at 0.380€ (2.56%), 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 Enertime SA stock A Buy?
Enertime SA 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.806 Hold/Accumulate Downgraded
Predicted Opening Price for Enertime SA of Thursday, May 23, 2024
| Fair opening price May 23, 2024 | Current price |
|---|---|
| 0.390€ ( 0.00000000%) | 0.390€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ALENE.PA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.410 | 5.13 % | |
| R2 | 0.402 | 3.17 % | ||
| R1 | 0.398 | 1.96 % | ||
| Current price: | 0.390 | |||
| Support | S1 | 0.382 | -1.96 % | |
| S2 | 0.378 | -3.17 % | ||
| S3 | 0.370 | -5.13 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.480 | 23.08 % | |
| R2 | 0.425 | 8.97 % | ||
| R1 | 0.400 | 2.56 % | ||
| Current price | 0.390 | |||
| Support | S1 | 0.380 | -2.56% | |
| S2 | 0.348 | -10.77% | ||
| S3 | 0.320 | -17.95% |
FAQ
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