Spineway Société Anonyme Stock Forecast

Spineway Société Anonyme stock downgraded from Sell Candidate to Strong Sell Candidate after Tuesday trading session.
(Updated on Jul 02, 2024)

ALSPW.PA Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, July 01, 2024, and so far it has risen 3.19%. Further rise is indicated until a new top pivot has been found. Spineway Société Anonyme has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Spineway Société Anonyme 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 0.639€ and 0.750€. 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).

Support, Risk & Stop-loss for Spineway Société Anonyme stock

On the downside, the stock finds support just below today's level from accumulated volume at 0.550€ and 0.521€. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Spineway Société Anonyme finds support just below today's level at 0.550€. If this is broken, then the next support from accumulated volume will be at 0.521€ and 0.512€.

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 0.0280€ between high and low, or 4.91%. For the last week, the stock has had daily average volatility of 9.54%.

Spineway Société Anonyme is oversold on RSI14 (9). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

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

Trading Expectations (ALSPW.PA) For The Upcoming Trading Day Of Wednesday 3rd

For the upcoming trading day on Wednesday, 3rd we expect Spineway Société Anonyme to open at 0.589€, and during the day (based on 14 day Average True Range), to move between 0.475€ and 0.722€, which gives a possible trading interval of +/-0.124€ (+/-20.71%) up or down from last closing price. If Spineway Société Anonyme takes out the full calculated possible swing range there will be an estimated 41.41% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 0.600€ (0.25%) than the support at 0.550€ (8.10%), 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 Spineway Société Anonyme stock A Buy?

Spineway Société Anonyme 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.

Current score: -6.040 Strong Sell Candidate Downgraded

Predicted Opening Price for Spineway Société Anonyme of Wednesday, July 3, 2024

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