Compagnie de Saint-Gobain ADR Stock Forecast

Compagnie de Saint-Gobain ADR stock upgraded to Buy Candidate.
(Updated on May 16, 2024)

CODYY Signals & Forecast

The Compagnie de Saint-Gobain ADR 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 $17.52 and $16.04. 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 -1.87%. Further fall is indicated until a new bottom pivot has been found. Compagnie de Saint-Gobain ADR 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 Compagnie de Saint-Gobain ADR stock

On the downside, the stock finds support just below today's level from accumulated volume at $15.42 and $15.08. 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, Compagnie de Saint-Gobain ADR finds support just below today's level at $15.42. If this is broken, then the next support from accumulated volume will be at $15.08 and $15.01.

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 $0.230 between high and low, or 1.30%. For the last week, the stock has had daily average volatility of 1.06%.

The Compagnie de Saint-Gobain ADR 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. 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: $17.14 (-3.13%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 79 and this increases the risk substantially. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (CODYY) For The Upcoming Trading Day Of Friday 17th

For the upcoming trading day on Friday, 17th we expect Compagnie de Saint-Gobain ADR to open at $17.74, and during the day (based on 14 day Average True Range), to move between $17.39 and $18.00, which gives a possible trading interval of +/-$0.305 (+/-1.72%) up or down from last closing price. If Compagnie de Saint-Gobain ADR takes out the full calculated possible swing range there will be an estimated 3.44% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $18.03 (1.91%) than the support at $15.42 (12.84%), 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 Compagnie de Saint-Gobain ADR 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 Compagnie de Saint-Gobain ADR 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: 1.050 Buy Candidate Upgraded

Predicted Opening Price for Compagnie de Saint-Gobain ADR of Friday, May 17, 2024

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