Coca-Cola European Partners Plc Stock Forecast

Green day on Tuesday for Coca-Cola European Partners Plc
(Updated on Apr 30, 2024)

CCEP.AS Signals & Forecast

The Coca-Cola European Partners Plc 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 65.93€ and 64.87€. 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). Coca-Cola European Partners Plc has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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 Friday, April 26, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. The stock had a Golden Star Signal on Monday, August 28, 2023 in the long-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.

Support, Risk & Stop-loss for Coca-Cola European Partners Plc stock

Coca-Cola European Partners Plc finds support from accumulated volume at 64.20€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved 0.700€ (1.05%) between high and low. For the last week, the stock has had daily average volatility of 1.74%.

The Coca-Cola European Partners Plc 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.

Our recommended stop-loss: 64.98€ (-3.44%) (This stock has low daily movements and this gives low risk. The RSI14 is 78 and this increases the risk substantially. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (CCEP.AS) For The Upcoming Trading Day Of Thursday 2nd

For the upcoming trading day on Thursday, 2nd we expect Coca-Cola European Partners Plc to open at 67.13€, and during the day (based on 14 day Average True Range), to move between 66.26€ and 68.34€, which gives a possible trading interval of +/-1.04€ (+/-1.54%) up or down from last closing price. If Coca-Cola European Partners Plc takes out the full calculated possible swing range there will be an estimated 3.09% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ 64.20€, some 3.10€ (4.61%) from the current price of 67.30€, our system finds the risk reward attractive.

Is Coca-Cola European Partners Plc 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 Coca-Cola European Partners Plc stock to perform well in the short-term.

Current score: 1.871 Buy Candidate Unchanged

Predicted Opening Price for Coca-Cola European Partners Plc of Thursday, May 2, 2024

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