E.ON SE Stock Forecast

E.ON SE stock downgraded to Sell Candidate
(Updated on Jul 02, 2024)

EOAN.DE Signals & Forecast

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. The E.ON SE stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at 12.38€ and 12.49€. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 16, 2024, and so far it has fallen -9.59%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The stock had a Golden Star Signal on Wednesday, March 06, 2024 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 E.ON SE stock

E.ON SE finds support from accumulated volume at 12.08€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved 0.115€ between high and low, or 0.95%. For the last week the stock has had daily average volatility of 1.66%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (EOAN.DE) For The Upcoming Trading Day Of Wednesday 3rd

For the upcoming trading day on Wednesday, 3rd we expect E.ON SE to open at 12.14€, and during the day (based on 14 day Average True Range), to move between 11.92€ and 12.31€, which gives a possible trading interval of +/-0.194€ (+/-1.60%) up or down from last closing price. If E.ON SE takes out the full calculated possible swing range there will be an estimated 3.20% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at 12.08€ (0.33%) than the resistance at 12.43€ (2.60%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is E.ON SE stock A Buy?

E.ON SE holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -3.562 Sell Candidate Downgraded

Predicted Opening Price for E.ON SE of Wednesday, July 3, 2024

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