Danone SA Stock Forecast
Danone SA stock upgraded from Hold/Accumulate to Buy Candidate after Thursday trading session.
(Updated on May 09, 2024)
The Danone SA stock price fell by -0.0674% on the last day (Thursday, 9th May 2024) from 59.32€ to 59.28€. During the last trading day the stock fluctuated 0.95% from a day low at 58.90€ to a day high of 59.46€. The price has risen in 5 of the last 10 days but is still down by -0.8% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -328 thousand shares and in total, 757 thousand shares were bought and sold for approximately 44.86€ million.
The stock lies the upper part of a narrow and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at 59.45€ will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -3.98% during the next 3 months and, with a 90% probability hold a price between 54.44€ and 57.08€ at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
BN.PA Signals & Forecast
The Danone SA stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at 58.75€ and 58.78€. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, May 03, 2024, and so far it has risen 2.67%. 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 together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. The stock had a Golden Star Signal on Tuesday, May 07, 2024 in the short-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.
Golden Star
The stock had a Golden Star Signal on Tuesday, May 07, 2024 in the short-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.
A buy signal from a double bottom formation was found on Friday, May 03, 2024 and based on theory for this formation the price should go up by 4.45% to 61.92€ within 16 trading days since signal was issued (Friday, May 10, 2024).
Support, Risk & Stop-loss for Danone SA stock
Danone SA finds support from accumulated volume at 59.02€ 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 0.560€ between high and low, or 0.95%. For the last week the stock has had daily average volatility of 1.32%.
Our recommended stop-loss: 56.24€ (-5.13%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (BN.PA) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Danone SA to open at 59.21€, and during the day (based on 14 day Average True Range), to move between 58.40€ and 60.16€, which gives a possible trading interval of +/-0.88€ (+/-1.48%) up or down from last closing price. If Danone SA takes out the full calculated possible swing range there will be an estimated 2.97% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 59.32€ (0.07%) than the support at 59.02€ (0.44%), 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 Danone SA stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.221 Buy Candidate Upgraded
Predicted Opening Price for Danone SA of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| 59.21€ ( 0.112%) | 59.28€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BN.PA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 59.77 | 0.83 % | |
| R2 | 59.56 | 0.471 % | ||
| R1 | 59.43 | 0.248 % | ||
| Current price: | 59.28 | |||
| Support | S1 | 59.00 | -0.473 % | |
| S2 | 58.87 | -0.696 % | ||
| S3 | 58.65 | -1.06 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 61.64 | 3.98 % | |
| R2 | 59.60 | 0.540 % | ||
| R1 | 59.32 | 0.0675 % | ||
| Current price | 59.28 | |||
| Support | S1 | 59.02 | -0.439% | |
| S2 | 58.72 | -0.94% | ||
| S3 | 58.66 | -1.05% |
BN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 03, 2024 | May 03, 2024 | May 07, 2024 | 2.10€ | 3.58% |
| 2 | May 09, 2023 | May 09, 2023 | May 09, 2023 | 2.00€ | 3.40% |
| 3 | May 10, 2022 | May 10, 2022 | May 10, 2022 | 1.94€ | 3.54% |
| 4 | May 10, 2021 | May 10, 2021 | May 10, 2021 | 1.94€ | 3.37% |
| 5 | Feb 26, 2020 | Jul 14, 2020 | Jul 16, 2020 | 2.10€ | 3.49% |
FAQ
Click here for our free guide on how to buy Danone SA Stock.
