Chapters Group Ag Stock Forecast
Chapters Group Ag stock downgraded from Buy Candidate to Sell Candidate after Friday trading session.
(Updated on Jun 28, 2024)
The Chapters Group Ag stock price fell by -0.83% on the last day (Friday, 28th Jun 2024) from 24.20€ to 24.00€. During the last trading day the stock fluctuated 7.14% from a day low at 22.40€ to a day high of 24.00€. The price has fallen in 4 of the last 10 days but is still up by 0.84% over the past 2 weeks. 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 -3 thousand shares and in total, 24 thousand shares were bought and sold for approximately 578.11€ thousand.
The stock lies in the upper part of a wide and weak rising 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 24.22€ will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 4.56% during the next 3 months and, with a 90% probability hold a price between 22.85€ and 25.32€ at the end of this 3-month period.
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CHG.F Signals & Forecast
The Chapters Group Ag 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 23.69€ and 23.80€. A breakdown below any of these levels will issue sell signals. 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 Thursday, June 27, 2024, and so far it has fallen -0.83%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Chapters Group Ag stock
Chapters Group Ag finds support from accumulated volume at 23.80€ 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 1.60€ between high and low, or 7.14%. For the last week the stock has had daily average volatility of 3.51%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CHG.F) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Chapters Group Ag to open at 23.47€, and during the day (based on 14 day Average True Range), to move between 23.53€ and 24.47€, which gives a possible trading interval of +/-0.473€ (+/-1.97%) up or down from last closing price. If Chapters Group Ag takes out the full calculated possible swing range there will be an estimated 3.94% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 24.20€ (0.83%) than the support at 23.80€ (0.83%), 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 Chapters Group Ag stock A Buy?
Chapters Group Ag holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. 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 Sell candidate.
Current score: -2.793 Sell Candidate Downgraded
Predicted Opening Price for Chapters Group Ag of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| 23.47€ ( 2.22%) | 24.00€ |
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 | 25.07 | 4.44% |
| R2 | 24.46 | 1.90% |
| R1 | 24.08 | 0.324% |
| Price | 24.00 | |
| S1 | 22.86 | -4.77% |
| S2 | 22.48 | -6.34% |
| S3 | 21.87 | -8.89% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 24.20 | 0.83% |
| Price | 24.00 | |
| S1 | 23.80 | -0.83% |
| S2 | 23.60 | -1.67% |
| S3 | 23.40 | -2.50% |
FAQ
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