Eni S.p.A. Stock Forecast

Stronger technical forecast for Eni S.p.A. stock price after Friday trading.
(Updated on Apr 26, 2024)

ENI.F Signals & Forecast

The Eni 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 15.37€. On a fall, the stock will find some support from the long-term average at approximately 14.99€. 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. A buy signal was issued from a pivot bottom point on Wednesday, April 24, 2024, and so far it has risen 0.263%. Further rise is indicated until a new top pivot has been found. Eni S.p.A. 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. 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).

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Friday, April 19, 2024 and based on theory for this formation the price should fall by -2.66% to 14.86€ within 5 trading days since signal was issued (Monday, April 29, 2024).

Support, Risk & Stop-loss for Eni S.p.A. stock

Eni S.p.A. finds support from accumulated volume at 15.23€ 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 0.172€ (1.13%) between high and low. For the last week, the stock has had daily average volatility of 1.33%.

Our recommended stop-loss: 14.35€ (-5.99%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 2 days ago.)

Trading Expectations (ENI.F) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect Eni S.p.A. to open at 15.28€, and during the day (based on 14 day Average True Range), to move between 14.99€ and 15.54€, which gives a possible trading interval of +/-0.275€ (+/-1.80%) up or down from last closing price. If Eni S.p.A. takes out the full calculated possible swing range there will be an estimated 3.60% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at 15.23€ (0.26%) than the resistance at 15.34€ (0.50%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Eni S.p.A. stock A Buy?

Eni S.p.A. holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". 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: 5.602 Strong Buy Candidate Upgraded

Predicted Opening Price for Eni S.p.A. of Monday, April 29, 2024

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