Chapters Group Ag Stock Forecast
Chapters Group Ag stock upgraded from Sell Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on Jun 25, 2024)
The Chapters Group Ag stock price gained 0.85% on the last trading day (Tuesday, 25th Jun 2024), rising from 23.40€ to 23.60€. During the last trading day the stock fluctuated 0.85% from a day low at 23.40€ to a day high of 23.60€. The price has been going up and down for this period, and there has been a -1.67% loss for the last 2 weeks. Volume fell on the last day by -14 thousand shares and in total, 2 thousand shares were bought and sold for approximately 54.54€ thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 3.54% during the next 3 months and, with a 90% probability hold a price between 22.39€ and 24.97€ at the end of this 3-month period.
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CHG.F Signals & Forecast
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. The Chapters Group Ag stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at 23.69€ and 23.81€. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, June 12, 2024, and so far it has fallen -1.67%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Chapters Group Ag stock
Chapters Group Ag finds support from accumulated volume at 23.40€ 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved 0.200€ between high and low, or 0.85%. For the last week the stock has had daily average volatility of 1.02%
Our recommended stop-loss: 22.44€ (-4.93%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 63 days ago.)
Trading Expectations (CHG.F) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Chapters Group Ag to open at 23.53€, and during the day (based on 14 day Average True Range), to move between 23.32€ and 23.88€, which gives a possible trading interval of +/-0.284€ (+/-1.20%) up or down from last closing price. If Chapters Group Ag takes out the full calculated possible swing range there will be an estimated 2.41% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 23.80€ (0.85%) than the support at 23.40€ (0.85%), 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.
Earnings coming up
Chapters Group Ag will release earnings BMO on Friday, June 28, 2024. We will update the financials statements for Chapters Group Ag, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 0% in the first trading day after earnings release.
Is Chapters Group Ag stock A Buy?
Chapters Group Ag holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.109 Hold/Accumulate Upgraded
Predicted Opening Price for Chapters Group Ag of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| 23.53€ ( 0.282%) | 23.60€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CHG.F
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 23.73 | 0.565% |
| R2 | 23.66 | 0.241% |
| R1 | 23.61 | 0.0412% |
| Price | 23.60 | |
| S1 | 23.46 | -0.606% |
| S2 | 23.41 | -0.81% |
| S3 | 23.33 | -1.13% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 24.20 | 2.54% |
| R2 | 24.00 | 1.69% |
| R1 | 23.80 | 0.85% |
| Price | 23.60 | |
| S1 | 23.40 | -0.85% |
| S2 | 21.20 | -10.17% |
| S3 | 21.00 | -11.02% |
FAQ
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