Drägerwerk AG & Co. KGaA Stock Forecast

Drägerwerk AG & Co. KGaA stock downgraded from Buy Candidate to Sell Candidate after Friday trading session.
(Updated on May 31, 2024)

DRW8.DE Signals & Forecast

The Drägerwerk AG & Co. KGaA 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 46.80€. On a fall, the stock will find some support from the long-term average at approximately 45.15€. 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. 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 Tuesday, May 21, 2024, and so far it has fallen -2.10%. Further fall is indicated until a new bottom pivot has been found. Drägerwerk AG & Co. KGaA 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". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Drägerwerk AG & Co. KGaA stock

Drägerwerk AG & Co. KGaA finds support from accumulated volume at 46.00€ 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 0.400€ (0.86%) between high and low. For the last week, the stock has had daily average volatility of 2.39%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (DRW8.DE) For The Upcoming Trading Day Of Monday 3rd

For the upcoming trading day on Monday, 3rd we expect Drägerwerk AG & Co. KGaA to open at 46.77€, and during the day (based on 14 day Average True Range), to move between 45.61€ and 47.79€, which gives a possible trading interval of +/-1.09€ (+/-2.34%) up or down from last closing price. If Drägerwerk AG & Co. KGaA takes out the full calculated possible swing range there will be an estimated 4.69% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 46.80€ (0.21%) than the support at 46.00€ (1.50%), 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 Drägerwerk AG & Co. KGaA stock A Buy?

Drägerwerk AG & Co. KGaA 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: -1.378 Sell Candidate Downgraded

Predicted Opening Price for Drägerwerk AG & Co. KGaA of Monday, June 3, 2024

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