Befesa S.A. Stock Forecast

Green day on Tuesday for Befesa S.A. stock after gaining 1.44%
(Updated on May 07, 2024)

BFSA.F Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 12.60%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Befesa S.A. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at 31.95€. On a fall, the stock will find some support from the short-term average at 27.95€. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Befesa S.A. stock

Befesa S.A. finds support from accumulated volume at 28.60€ 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 0.720€ between high and low, or 2.48%. For the last week, the stock has had daily average volatility of 3.23%.

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

Trading Expectations (BFSA.F) For The Upcoming Trading Day Of Wednesday 8th

For the upcoming trading day on Wednesday, 8th we expect Befesa S.A. to open at 29.46€, and during the day (based on 14 day Average True Range), to move between 28.21€ and 30.79€, which gives a possible trading interval of +/-1.29€ (+/-4.38%) up or down from last closing price. If Befesa S.A. takes out the full calculated possible swing range there will be an estimated 8.75% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 29.70€ (0.68%) than the support at 28.60€ (3.05%), 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 Befesa S.A. stock A Buy?

Befesa S.A. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -4.021 Sell Candidate Unchanged

Predicted Opening Price for Befesa S.A. of Wednesday, May 8, 2024

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