Innelec Multimédia SA Stock Forecast

Red day on Friday for Innelec Multimédia SA
(Updated on Jun 28, 2024)

ALINN.PA Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 3.15%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Innelec Multimédia SA stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at 4.73€ and 6.20€. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Innelec Multimédia 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 Innelec Multimédia SA stock

Innelec Multimédia SA finds support from accumulated volume at 4.44€ 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 0.140€ between high and low, or 3.06%. For the last week, the stock has had daily average volatility of 2.83%.

Innelec Multimédia SA is oversold on RSI14 (18). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (ALINN.PA) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Innelec Multimédia SA to open at 4.63€, and during the day (based on 14 day Average True Range), to move between 4.33€ and 4.83€, which gives a possible trading interval of +/-0.246€ (+/-5.38%) up or down from last closing price. If Innelec Multimédia SA takes out the full calculated possible swing range there will be an estimated 10.76% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 4.70€ (2.62%) than the support at 4.44€ (3.06%), 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 Innelec Multimédia SA stock A Buy?

Innelec Multimédia SA holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

Current score: -4.109 Sell Candidate Unchanged

Predicted Opening Price for Innelec Multimédia SA of Monday, July 1, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.