BNP Paribas SA Stock Forecast

Stronger technical forecast for BNP Paribas SA stock price after Thursday trading.
(Updated on May 16, 2024)

BNP.F Signals & Forecast

The BNP Paribas SA 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 71.17€ and 67.46€. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Wednesday, May 15, 2024, and so far it has fallen -0.334%. Further fall is indicated until a new bottom pivot has been found. BNP Paribas SA gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".

Support, Risk & Stop-loss for BNP Paribas SA stock

On the downside, the stock finds support just below today's level from accumulated volume at 57.33€ and 55.56€. 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, BNP Paribas SA finds support just below today's level at 57.33€. If this is broken, then the next support from accumulated volume will be at 55.56€ and 54.69€.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved 0.530€ between high and low, or 0.743%. For the last week, the stock has had daily average volatility of 0.84%.

Our recommended stop-loss: 69.66€ (-2.69%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (BNP.F) For The Upcoming Trading Day Of Friday 17th

For the upcoming trading day on Friday, 17th we expect BNP Paribas SA to open at 71.56€, and during the day (based on 14 day Average True Range), to move between 70.59€ and 72.57€, which gives a possible trading interval of +/-0.99€ (+/-1.39%) up or down from last closing price. If BNP Paribas SA takes out the full calculated possible swing range there will be an estimated 2.77% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 71.82€ (0.34%) than the support at 57.33€ (19.91%), 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 BNP Paribas SA stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for BNP Paribas SA 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: 2.047 Buy Candidate Upgraded

Predicted Opening Price for BNP Paribas SA of Friday, May 17, 2024

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