Banca Generali S.p.A. Stock Forecast

Evaluation of Banca Generali S.p.A. stock downgraded after the last trading session.
(Updated on Jul 02, 2024)

BGN.MI Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 2.44%. 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). 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 Banca Generali S.p.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 38.36€. On a fall, the stock will find some support from the short-term average at 37.82€. 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.

Support, Risk & Stop-loss for Banca Generali S.p.A. stock

Banca Generali S.p.A. finds support from accumulated volume at 37.66€ 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 very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved 0.86€ between high and low, or 2.31%. For the last week the stock has had daily average volatility of 1.69%.

Our recommended stop-loss: 35.77€ (-5.41%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 35 days ago.)

Trading Expectations (BGN.MI) For The Upcoming Trading Day Of Wednesday 3rd

For the upcoming trading day on Wednesday, 3rd we expect Banca Generali S.p.A. to open at 37.67€, and during the day (based on 14 day Average True Range), to move between 37.17€ and 38.47€, which gives a possible trading interval of +/-0.651€ (+/-1.72%) up or down from last closing price. If Banca Generali S.p.A. takes out the full calculated possible swing range there will be an estimated 3.44% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at 37.66€ (0.42%) than the resistance at 38.18€ (0.95%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Banca Generali S.p.A. stock A Buy?

Banca Generali 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.788 Hold/Accumulate Downgraded

Predicted Opening Price for Banca Generali S.p.A. of Wednesday, July 3, 2024

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