E.ON SE Stock Forecast

Is E.ON SE stock still a buy after falling -5.22% on Friday?
(Updated on May 17, 2024)

EOAN.F Signals & Forecast

The E.ON SE 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 13.12€. On a fall, the stock will find some support from the long-term average at approximately 12.63€. 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 Thursday, May 16, 2024, and so far it has fallen -5.22%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. The stock had a Golden Star Signal on Tuesday, April 30, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Wednesday, March 06, 2024.

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 12.52€ 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved 0.330€ between high and low, or 2.61%. For the last week, the stock has had daily average volatility of 1.99%.

Our recommended stop-loss: 11.96€ (-5.85%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (EOAN.F) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect E.ON SE to open at 12.78€, and during the day (based on 14 day Average True Range), to move between 12.45€ and 12.95€, which gives a possible trading interval of +/-0.252€ (+/-1.99%) up or down from last closing price. If E.ON SE takes out the full calculated possible swing range there will be an estimated 3.97% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 12.76€ (0.47%) than the support at 12.52€ (1.46%), 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 E.ON SE 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 E.ON SE stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.755 Buy Candidate Upgraded

Predicted Opening Price for E.ON SE of Monday, May 20, 2024

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