EnviTec Biogas AG Stock Forecast

EnviTec Biogas AG stock upgraded to Buy Candidate.
(Updated on May 31, 2024)

ETG.DE Signals & Forecast

The EnviTec Biogas AG 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 36.07€. On a fall, the stock will find some support from the long-term average at approximately 30.78€. 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 30, 2024, and so far it has fallen -4.77%. Further fall is indicated until a new bottom pivot has been found. EnviTec Biogas AG gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".

Support, Risk & Stop-loss for EnviTec Biogas AG stock

On the downside, the stock finds support just below today's level from accumulated volume at 31.20€ and 29.10€. 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, EnviTec Biogas AG finds support just below today's level at 31.20€. If this is broken, then the next support from accumulated volume will be at 29.10€ and 28.00€.

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 1.70€ between high and low, or 4.74%. For the last week, the stock has had daily average volatility of 3.96%.

Our recommended stop-loss: 35.03€ (-2.42%) (This stock has high daily movements and this gives high risk. The RSI14 is 79 and this increases the risk substantially. There is a sell signal from a pivot top found 20 days ago.)

Trading Expectations (ETG.DE) For The Upcoming Trading Day Of Monday 3rd

For the upcoming trading day on Monday, 3rd we expect EnviTec Biogas AG to open at 36.47€, and during the day (based on 14 day Average True Range), to move between 34.68€ and 37.12€, which gives a possible trading interval of +/-1.22€ (+/-3.41%) up or down from last closing price. If EnviTec Biogas AG takes out the full calculated possible swing range there will be an estimated 6.82% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 36.30€ (1.11%) than the support at 31.20€ (13.09%), 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 EnviTec Biogas AG 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 EnviTec Biogas AG 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: 1.323 Buy Candidate Upgraded

Predicted Opening Price for EnviTec Biogas AG of Monday, June 3, 2024

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