Banco di Desio e della Brianza S.p.A. Stock Forecast

Green day on Friday for Banco di Desio e della Brianza S.p.A.
(Updated on May 17, 2024)

BDB.MI Signals & Forecast

The Banco di Desio e della Brianza S.p.A. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at 4.88€ and 4.67€. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 17.12%. 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. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.

Support, Risk & Stop-loss for Banco di Desio e della Brianza S.p.A. stock

On the downside, the stock finds support just below today's level from accumulated volume at 4.60€ and 4.13€. 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, Banco di Desio e della Brianza S.p.A. finds support just below today's level at 4.60€. If this is broken, then the next support from accumulated volume will be at 4.13€ and 4.08€.

This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved 0.220€ between high and low, or 4.40%. For the last week the stock has had daily average volatility of 2.66%.

The Banco di Desio e della Brianza S.p.A. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs. Since the Banco di Desio e della Brianza S.p.A. has been rising for 6 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.

Our recommended stop-loss: 5.04€ (-3.17%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 81 and this increases the risk substantially. There is a buy signal from a pivot bottom found 15 days ago.)

Trading Expectations (BDB.MI) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Banco di Desio e della Brianza S.p.A. to open at 5.14€, and during the day (based on 14 day Average True Range), to move between 5.08€ and 5.32€, which gives a possible trading interval of +/-0.120€ (+/-2.32%) up or down from last closing price. If Banco di Desio e della Brianza S.p.A. takes out the full calculated possible swing range there will be an estimated 4.63% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ 4.60€, some 0.600€ (11.54%) from the current price of 5.20€, our system finds the risk reward attractive.

Is Banco di Desio e della Brianza S.p.A. stock A Buy?

Banco di Desio e della Brianza S.p.A. 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.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Banco di Desio e della Brianza S.p.A. of Monday, May 20, 2024

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