Erste Group Bank AG Stock Forecast

Erste Group Bank AG stock upgraded to Strong Buy Candidate.
(Updated on May 17, 2024)

EBO.DE Signals & Forecast

Mostly positive signals in the chart today. The Erste Group Bank AG 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 46.12€ and 43.75€. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 15.75%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Erste Group Bank AG has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.

Support, Risk & Stop-loss for Erste Group Bank AG stock

On the downside, the stock finds support just below today's level from accumulated volume at 41.78€ and 38.81€. 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, Erste Group Bank AG finds support just below today's level at 41.78€. If this is broken, then the next support from accumulated volume will be at 38.81€ and 37.16€.

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 1.44€ (3.11%) between high and low. For the last week, the stock has had daily average volatility of 0.86%.

The Erste Group Bank AG stock is extremely overbought on RSI14 (83). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

Our recommended stop-loss: 45.53€ (-4.71%) (This stock has low daily movements and this gives low risk. The RSI14 is 83 and this increases the risk substantially. There is a buy signal from a pivot bottom found 22 days ago.)

Trading Expectations (EBO.DE) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Erste Group Bank AG to open at 47.30€, and during the day (based on 14 day Average True Range), to move between 47.21€ and 48.35€, which gives a possible trading interval of +/-0.572€ (+/-1.20%) up or down from last closing price. If Erste Group Bank AG takes out the full calculated possible swing range there will be an estimated 2.39% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ 41.78€, some 6.00€ (12.56%) from the current price of 47.78€, our system finds the risk reward attractive.

Is Erste Group Bank AG stock A Buy?

Erste Group Bank AG holds several positive signals and has broken the strong rising trend up. As the stock is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

Current score: 7.188 Strong Buy Candidate Upgraded

Predicted Opening Price for Erste Group Bank AG of Monday, May 20, 2024

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