Erste Group Bank AG Stock Forecast

Weaker technical forecast for Erste Group Bank AG as stock downgraded to Buy Candidate.
(Updated on May 16, 2024)

EBO.F Signals & Forecast

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 45.77€ and 43.53€. 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 12.02%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. The stock had a Golden Star Signal on Monday, October 09, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

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€.

In general the stock tends to have controlled movements and therefore the general risk is considered 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 0.220€ between high and low, or 0.478%. For the last week the stock has had daily average volatility of 0.332%.

Our recommended stop-loss: 43.97€ (-4.90%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 21 days ago.)

Trading Expectations (EBO.F) For The Upcoming Trading Day Of Friday 17th

For the upcoming trading day on Friday, 17th we expect Erste Group Bank AG to open at 46.17€, and during the day (based on 14 day Average True Range), to move between 45.74€ and 46.74€, which gives a possible trading interval of +/-0.498€ (+/-1.08%) 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 2.15% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ 41.78€, some 4.46€ (9.65%) from the current price of 46.24€, our system finds the risk reward attractive.

Is Erste Group Bank AG 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 Erste Group Bank AG stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.

Current score: 4.930 Buy Candidate Downgraded

Predicted Opening Price for Erste Group Bank AG of Friday, May 17, 2024

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