Evonik Industries AG Stock Forecast

Red day on Thursday for Evonik Industries AG
(Updated on Jun 13, 2024)

EVK.DE Signals & Forecast

There are mixed signals in the stock today. The Evonik Industries AG stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at 19.79€. On a fall, the stock will find some support from the short-term average at 18.67€. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. A buy signal was issued from a pivot bottom point on Friday, June 07, 2024, and so far it has risen 1.41%. Further rise is indicated until a new top pivot has been found.

Support, Risk & Stop-loss for Evonik Industries AG stock

On the downside, the stock finds support just below today's level from accumulated volume at 17.50€ and 17.06€. 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, Evonik Industries AG finds support just below today's level at 17.50€. If this is broken, then the next support from accumulated volume will be at 17.06€ and 17.03€.

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 0.370€ between high and low, or 1.99%. For the last week, the stock has had daily average volatility of 1.74%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (EVK.DE) For The Upcoming Trading Day Of Friday 14th

For the upcoming trading day on Friday, 14th we expect Evonik Industries AG to open at 18.76€, and during the day (based on 14 day Average True Range), to move between 18.31€ and 19.05€, which gives a possible trading interval of +/-0.368€ (+/-1.97%) up or down from last closing price. If Evonik Industries AG takes out the full calculated possible swing range there will be an estimated 3.94% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at 17.50€ (6.34%) than the resistance at 20.17€ (7.98%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Evonik Industries AG stock A Buy?

Evonik Industries AG holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -2.805 Sell Candidate Unchanged

Predicted Opening Price for Evonik Industries AG of Friday, June 14, 2024

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