Eni S.p.A. Stock Forecast

Eni S.p.A. stock upgraded to Buy Candidate.
(Updated on Apr 25, 2024)

ENI.MI Signals & Forecast

A sell signal was issued from a pivot top point on Friday, April 12, 2024, and so far it has fallen -3.03%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Some positive signals were issued as well, and these may have some influence on the near short-term development. 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 15.31€. On a fall, the stock will find some support from the long-term average at approximately 14.96€. 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. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

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

Eni S.p.A. finds support from accumulated volume at 14.52€ 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 0.266€ (1.75%) between high and low. For the last week, the stock has had daily average volatility of 2.21%.

Our recommended stop-loss: 14.60€ (-4.29%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 9 days ago.)

Trading Expectations (ENI.MI) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect Eni S.p.A. to open at 15.29€, and during the day (based on 14 day Average True Range), to move between 14.96€ and 15.55€, which gives a possible trading interval of +/-0.292€ (+/-1.92%) 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 3.83% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 15.32€ (0.42%) than the support at 14.52€ (4.80%), 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 Eni S.p.A. stock A Buy?

Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 3.125 Buy Candidate Upgraded

Predicted Opening Price for Eni S.p.A. of Friday, April 26, 2024

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