Eurofins Scientific SE Stock Forecast
Eurofins Scientific SE stock downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on May 03, 2024)
The Eurofins Scientific SE stock price gained 0.319% on the last trading day (Friday, 3rd May 2024), rising from 56.50€ to 56.68€. During the last trading day the stock fluctuated 2.87% from a day low at 56.52€ to a day high of 58.14€. The price has been going up and down for this period, and there has been a -5.66% loss for the last 2 weeks. Volume fell on the last day by -150 thousand shares and in total, 259 thousand shares were bought and sold for approximately 14.69€ million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at 56.58€ is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 8.26% during the next 3 months and, with a 90% probability hold a price between 61.25€ and 67.28€ at the end of this 3-month period.
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ERF.PA Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, May 02, 2024, and so far it has risen 0.319%. Further rise is indicated until a new top pivot has been found. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Eurofins Scientific 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 57.21€ and 58.31€. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Eurofins Scientific SE stock
Eurofins Scientific SE finds support from accumulated volume at 56.10€ 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 1.62€ between high and low, or 2.87%. For the last week, the stock has had daily average volatility of 3.13%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ERF.PA) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Eurofins Scientific SE to open at 57.11€, and during the day (based on 14 day Average True Range), to move between 54.91€ and 58.45€, which gives a possible trading interval of +/-1.77€ (+/-3.13%) up or down from last closing price. If Eurofins Scientific SE takes out the full calculated possible swing range there will be an estimated 6.25% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 56.84€ (0.28%) than the support at 56.10€ (1.02%), 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 Eurofins Scientific SE stock A Buy?
The Eurofins Scientific SE stock holds several negative signals and despite the positive trend, we believe Eurofins Scientific SE will perform weakly in the next couple of days or weeks. Therefore, we 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: -1.793 Sell Candidate Downgraded
Predicted Opening Price for Eurofins Scientific SE of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| 57.11€ ( 0.765%) | 56.68€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ERF.PA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 58.73 | 3.62 % | |
| R2 | 58.11 | 2.53 % | ||
| R1 | 57.73 | 1.86 % | ||
| Current price: | 56.68 | |||
| Support | S1 | 56.49 | -0.327 % | |
| S2 | 56.11 | -1.00 % | ||
| S3 | 55.49 | -2.09 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 57.58 | 1.59 % | |
| R2 | 57.50 | 1.45 % | ||
| R1 | 56.84 | 0.282 % | ||
| Current price | 56.68 | |||
| Support | S1 | 56.10 | -1.02% | |
| S2 | 55.24 | -2.54% | ||
| S3 | 54.74 | -3.42% |
ERF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 04, 2023 | Jul 04, 2023 | Jul 04, 2023 | 1.00€ | 1.72% |
| 2 | Jul 05, 2022 | Jul 05, 2022 | Jul 05, 2022 | 1.00€ | 1.37% |
| 3 | Jul 01, 2021 | Jul 01, 2021 | Jul 01, 2021 | 0.680€ | 0.712% |
| 4 | Mar 05, 2019 | Jul 03, 2019 | Jul 05, 2019 | 0.288€ | 0.716% |
| 5 | Mar 06, 2018 | Jun 28, 2018 | Jul 02, 2018 | 0.240€ | 0.527% |
FAQ
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