Danieli & C. Officine Meccaniche S.p.A. Stock Forecast
Danieli & C. Officine Meccaniche S.p.A. stock price ended at 36.50€ on Tuesday, after losing 1.35%.
(Updated on Jun 25, 2024)
The Danieli & C. Officine Meccaniche S.p.A. stock price fell by -1.35% on the last day (Tuesday, 25th Jun 2024) from 37.00€ to 36.50€. During the last trading day the stock fluctuated 3.78% from a day low at 35.70€ to a day high of 37.05€. The price has fallen in 6 of the last 10 days and is down by -1.88% for this period. Volume has increased on the last day by 24 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 96 thousand shares were bought and sold for approximately 3.49€ million.
The stock lies in the lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at 36.06€ is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 18.83% during the next 3 months and, with a 90% probability hold a price between 42.85€ and 46.04€ at the end of this 3-month period.
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DAN.MI Signals & Forecast
A sell signal was issued from a pivot top point on Tuesday, June 18, 2024, and so far it has fallen -4.58%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. Some positive signals were issued as well, and these may have some influence on the near short-term development. The Danieli & C. Officine Meccaniche S.p.A. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately 37.30€. On a fall, the stock will find some support from the long-term average at approximately 36.25€. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal.
Support, Risk & Stop-loss for Danieli & C. Officine Meccaniche S.p.A. stock
On the downside, the stock finds support just below today's level from accumulated volume at 34.10€ and 32.95€. 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, Danieli & C. Officine Meccaniche S.p.A. finds support just below today's level at 34.10€. If this is broken, then the next support from accumulated volume will be at 32.95€ and 32.10€.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved 1.35€ between high and low, or 3.78%. For the last week the stock has had daily average volatility of 3.84%.
Our recommended stop-loss: 34.68€ (-4.98%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 42 days ago.)
Trading Expectations (DAN.MI) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Danieli & C. Officine Meccaniche S.p.A. to open at 36.42€, and during the day (based on 14 day Average True Range), to move between 35.41€ and 37.59€, which gives a possible trading interval of +/-1.09€ (+/-2.99%) up or down from last closing price. If Danieli & C. Officine Meccaniche S.p.A. takes out the full calculated possible swing range there will be an estimated 5.98% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 36.70€ (0.55%) than the support at 34.10€ (6.58%), 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 Danieli & C. Officine Meccaniche S.p.A. stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.
Current score: 1.476 Buy Candidate Unchanged
Predicted Opening Price for Danieli & C. Officine Meccaniche S.p.A. of Wednesday, June 26, 2024
Fair opening price June 26, 2024 | Current price |
---|---|
36.42€ ( 0.228%) | 36.50€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DAN.MI
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 37.77 | 3.47% |
R2 | 37.25 | 2.06% |
R1 | 36.93 | 1.18% |
Price | 36.50 | |
S1 | 35.90 | -1.64% |
S2 | 35.58 | -2.51% |
S3 | 35.07 | -3.93% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 37.45 | 2.60% |
R2 | 37.00 | 1.37% |
R1 | 36.70 | 0.548% |
Price | 36.50 | |
S1 | 34.10 | -6.58% |
S2 | 32.95 | -9.73% |
S3 | 32.10 | -12.05% |
DAN Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Nov 20, 2023 | Nov 20, 2023 | Nov 20, 2023 | 0.310€ | 1.18% |
2 | Nov 21, 2022 | Nov 21, 2022 | Nov 21, 2022 | 0.279€ | 1.31% |
3 | Nov 22, 2021 | Nov 22, 2021 | Nov 22, 2021 | 0.170€ | 0.608% |
4 | Nov 23, 2020 | Nov 23, 2020 | Nov 23, 2020 | 0.140€ | 0.98% |
5 | Nov 18, 2019 | Nov 18, 2019 | Nov 18, 2019 | 0.150€ | 0.94% |
FAQ
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