Evogene Ltd Stock Forecast
Evogene Ltd stock upgraded to Hold/Accumulate.
(Updated on May 20, 2024)
The Evogene Ltd stock price gained 0.80% on the last trading day (Monday, 20th May 2024), rising from ₪249.10 to ₪251.10. During the last trading day the stock fluctuated 3.59% from a day low at ₪248.00 to a day high of ₪256.90. The price has fallen in 5 of the last 10 days and is down by -1.99% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 24 thousand more shares were traded than the day before. In total, 24 thousand shares were bought and sold for approximately ₪5.92 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -22.30% during the next 3 months and, with a 90% probability hold a price between ₪165.40 and ₪225.60 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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EVGN.TA Signals & Forecast
There are mixed signals in the stock today. The Evogene Ltd 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 ₪258.23 and ₪266.71. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Sunday, April 21, 2024, and so far it has risen 7.31%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Evogene Ltd stock
Evogene Ltd finds support from accumulated volume at ₪250.20 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 ₪8.90 between high and low, or 3.59%. For the last week, the stock has had daily average volatility of 1.75%.
Our recommended stop-loss: ₪240.91 (-4.06%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 57 days ago.)
Trading Expectations (EVGN.TA) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Evogene Ltd to open at ₪252.00, and during the day (based on 14 day Average True Range), to move between ₪241.33 and ₪260.87, which gives a possible trading interval of +/-₪9.77 (+/-3.89%) up or down from last closing price. If Evogene Ltd takes out the full calculated possible swing range there will be an estimated 7.78% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₪250.20 (0.36%) than the resistance at ₪277.30 (10.43%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Evogene Ltd will release earnings BMO on Thursday, May 23, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.0900. We will update the financials statements for Evogene Ltd, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 7.62% in the first trading day after earnings release.
Is Evogene Ltd stock A Buy?
Evogene Ltd 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
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 Evogene Ltd of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| ₪252.00 ( 0.358%) | ₪251.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EVGN.TA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 260.90 | 3.90 % | |
| R2 | 257.50 | 2.55 % | ||
| R1 | 255.40 | 1.71 % | ||
| Current price: | 251.10 | |||
| Support | S1 | 248.60 | -1.00 % | |
| S2 | 246.50 | -1.83 % | ||
| S3 | 243.10 | -3.19 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 296.10 | 17.92 % | |
| R2 | 286.20 | 13.98 % | ||
| R1 | 277.30 | 10.43 % | ||
| Current price | 251.10 | |||
| Support | S1 | 250.20 | -0.358% | |
| S2 | 241.10 | -3.98% | ||
| S3 | 234.00 | -6.81% |
FAQ
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