Argan SA Stock Forecast

Argan SA stock price down 1.32% on Friday
(Updated on May 10, 2024)

ARG.PA Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 4.05%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Argan 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 76.27€ and 78.18€. A break-up above any of these levels will issue buy signals. Argan 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".

Support, Risk & Stop-loss for Argan SA stock

Argan SA finds support from accumulated volume at 74.30€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved 1.90€ between high and low, or 2.55%. For the last week, the stock has had daily average volatility of 1.84%.

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

Trading Expectations (ARG.PA) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect Argan SA to open at 75.13€, and during the day (based on 14 day Average True Range), to move between 72.57€ and 76.43€, which gives a possible trading interval of +/-1.93€ (+/-2.59%) up or down from last closing price. If Argan SA takes out the full calculated possible swing range there will be an estimated 5.19% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at 74.30€ (0.27%) than the resistance at 75.00€ (0.67%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Argan SA stock A Buy?

Argan SA holds several negative signals and is within a 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: -1.743 Sell Candidate Unchanged

Predicted Opening Price for Argan SA of Monday, May 13, 2024

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