Esso S.A.F. Stock Forecast
Green day on Tuesday for Esso S.A.F. stock after gaining 1.71%
(Updated on Apr 30, 2024)
The Esso S.A.F. stock price gained 1.71% on the last trading day (Tuesday, 30th Apr 2024), rising from 175.80€ to 178.80€. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 4.37% from a day low at 173.80€ to a day high of 181.40€. The price has risen in 9 of the last 10 days and is up by 23.14% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 23 thousand more shares were traded than the day before. In total, 42 thousand shares were bought and sold for approximately 7.48€ million.
The stock has broken the strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at 178.42€, a level that may pose a second chance to hit a runner. According to fan-theory 192.50€ will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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ES.PA Signals & Forecast
The Esso S.A.F. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at 170.77€ and 132.30€. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 26.45%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Esso S.A.F. stock
On the downside, the stock finds support just below today's level from accumulated volume at 153.40€ and 151.80€. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Esso S.A.F. finds support just below today's level at 153.40€. If this is broken, then the next support from accumulated volume will be at 151.80€ and 142.80€.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved 7.60€ between high and low, or 4.37%. For the last week, the stock has had daily average volatility of 2.98%.
Our recommended stop-loss: 172.72€ (-3.40%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (ES.PA) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Esso S.A.F. to open at 178.00€, and during the day (based on 14 day Average True Range), to move between 171.54€ and 186.06€, which gives a possible trading interval of +/-7.26€ (+/-4.06%) up or down from last closing price. If Esso S.A.F. takes out the full calculated possible swing range there will be an estimated 8.12% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ 153.40€, some 25.40€ (14.21%) from the current price of 178.80€, our system finds the risk reward attractive.
Is Esso S.A.F. stock A Buy?
Esso S.A.F. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Esso S.A.F. of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| 178.00€ ( 0.447%) | 178.80€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ES.PA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 185.60 | 3.80 % | |
| R2 | 182.70 | 2.18 % | ||
| R1 | 180.90 | 1.18 % | ||
| Current price: | 178.80 | |||
| Support | S1 | 175.10 | -2.07 % | |
| S2 | 173.30 | -3.07 % | ||
| S3 | 170.40 | -4.70 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 178.80 | |||
| Support | S1 | 153.40 | -14.21% | |
| S2 | 151.80 | -15.10% | ||
| S3 | 142.80 | -20.13% |
ES Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 08, 2024 | Jul 08, 2024 | Jul 10, 2024 | 15.00€ | 8.43% |
| 2 | Jul 10, 2023 | Jul 10, 2023 | Jul 10, 2023 | 2.00€ | 4.01% |
| 3 | Mar 22, 2018 | Jul 10, 2018 | Jul 12, 2018 | 1.50€ | 3.19% |
| 4 | Mar 21, 2013 | Jul 08, 2013 | Jul 11, 2013 | 2.00€ | 4.17% |
| 5 | Mar 22, 2012 | Jul 09, 2012 | Jul 12, 2012 | 2.00€ | 3.47% |
FAQ
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