Banque Cantonale de Genève SA Stock Forecast

Banque Cantonale de Genève SA stock upgraded from Sell Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on May 08, 2024)

BCGE.SW Signals & Forecast

There are few to no technical positive signals at the moment. The Banque Cantonale de Genève 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 294.57 Fr and 297.31 Fr. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 08, 2024, and so far it has fallen -6.71%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The stock had a Golden Star Signal on Monday, January 08, 2024 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Banque Cantonale de Genève SA stock

Banque Cantonale de Genève SA finds support from accumulated volume at 290.00 Fr and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved 4.00 Fr between high and low, or 1.37%. For the last week the stock has had daily average volatility of 1.51%.

Our recommended stop-loss: 278.76 Fr (-4.53%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 21 days ago.)

Trading Expectations (BCGE.SW) For The Upcoming Trading Day Of Friday 10th

For the upcoming trading day on Friday, 10th we expect Banque Cantonale de Genève SA to open at 293.33 Fr, and during the day (based on 14 day Average True Range), to move between 285.82 Fr and 298.18 Fr, which gives a possible trading interval of +/-6.18 Fr (+/-2.12%) up or down from last closing price. If Banque Cantonale de Genève SA 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 293.00 Fr (0.34%) than the support at 290.00 Fr (0.68%), 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 Banque Cantonale de Genève SA stock A Buy?

Banque Cantonale de Genève SA holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: -0.845 Hold/Accumulate Upgraded

Predicted Opening Price for Banque Cantonale de Genève SA of Friday, May 10, 2024

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