Eurofins Scientific SE Stock Forecast
Eurofins Scientific SE stock downgraded from Buy Candidate to Sell Candidate after Friday trading session.
(Updated on May 17, 2024)
The Eurofins Scientific SE stock price fell by -1.65% on the last day (Friday, 17th May 2024) from 59.24€ to 58.26€. During the last trading day the stock fluctuated 1.79% from a day low at 58.06€ to a day high of 59.10€. The price has been going up and down for this period, and there has been a 2.79% gain for the last 2 weeks. Volume has increased on the last day by 57 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 252 thousand shares were bought and sold for approximately 14.67€ million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 4.18% during the next 3 months and, with a 90% probability hold a price between 58.81€ and 65.28€ at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
ERF.PA 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 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 58.30€ and 58.74€. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 15, 2024, and so far it has fallen -3.03%. 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.
A sell signal from a double top formation was found on Tuesday, April 23, 2024 with a target of 60.47€. Despite whether the objective of the signal formation has been reached the stock may continue to fall.
Support, Risk & Stop-loss for Eurofins Scientific SE stock
Eurofins Scientific SE finds support from accumulated volume at 56.84€ 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 1.04€ between high and low, or 1.79%. For the last week, the stock has had daily average volatility of 2.22%.
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 20th
For the upcoming trading day on Monday, 20th we expect Eurofins Scientific SE to open at 58.47€, and during the day (based on 14 day Average True Range), to move between 56.82€ and 59.70€, which gives a possible trading interval of +/-1.44€ (+/-2.48%) up or down from last closing price. If Eurofins Scientific SE takes out the full calculated possible swing range there will be an estimated 4.95% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 58.50€ (0.41%) than the support at 56.84€ (2.44%), 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 Buy to a Sell candidate.
Current score: -2.511 Sell Candidate Downgraded
Predicted Opening Price for Eurofins Scientific SE of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| 58.47€ ( 0.366%) | 58.26€ |
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 | 59.51 | 2.15 % | |
| R2 | 59.12 | 1.47 % | ||
| R1 | 58.87 | 1.05 % | ||
| Current price: | 58.26 | |||
| Support | S1 | 58.08 | -0.316 % | |
| S2 | 57.83 | -0.737 % | ||
| S3 | 57.43 | -1.42 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 60.08 | 3.12 % | |
| R2 | 60.00 | 2.99 % | ||
| R1 | 58.50 | 0.412 % | ||
| Current price | 58.26 | |||
| Support | S1 | 56.84 | -2.44% | |
| S2 | 56.10 | -3.71% | ||
| S3 | 54.74 | -6.04% |
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
Click here for our free guide on how to buy Eurofins Scientific SE Stock.
