Elmos Semiconductor AG Stock Forecast

Red day on Thursday for Elmos Semiconductor AG stock after losing 1.79%
(Updated on May 16, 2024)

ELG.DE Signals & Forecast

The Elmos Semiconductor AG 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 77.29€. On a fall, the stock will find some support from the long-term average at approximately 75.39€. 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 07, 2024, and so far it has fallen -6.45%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.

Support, Risk & Stop-loss for Elmos Semiconductor AG stock

Elmos Semiconductor AG finds support from accumulated volume at 73.90€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved 2.50€ between high and low, or 3.26%. For the last week the stock has had daily average volatility of 2.62%.

Our recommended stop-loss: 72.53€ (-5.68%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 7 days ago.)

Trading Expectations (ELG.DE) For The Upcoming Trading Day Of Friday 17th

For the upcoming trading day on Friday, 17th we expect Elmos Semiconductor AG to open at 77.67€, and during the day (based on 14 day Average True Range), to move between 74.26€ and 79.54€, which gives a possible trading interval of +/-2.64€ (+/-3.43%) up or down from last closing price. If Elmos Semiconductor AG takes out the full calculated possible swing range there will be an estimated 6.86% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 78.50€ (2.08%) than the support at 73.90€ (3.90%), 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 Elmos Semiconductor 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 Elmos Semiconductor AG stock to perform well in the short-term.

Current score: 3.676 Buy Candidate Unchanged

Predicted Opening Price for Elmos Semiconductor AG of Friday, May 17, 2024

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