Evonik Industries AG Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Weaker technical forecast for Evonik Industries AG as stock downgraded to Sell Candidate.
(Updated on Jun 17, 2024)
The Evonik Industries AG stock price gained 1.51% on the last trading day (Monday, 17th Jun 2024), rising from 18.24€ to 18.52€. During the last trading day the stock fluctuated 1.67% from a day low at 18.21€ to a day high of 18.52€. The price has fallen in 6 of the last 10 days and is down by -7.15% for this period. Volume fell on the last day by -37 thousand shares and in total, 915 thousand shares were bought and sold for approximately 16.94€ million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at 18.26€ is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 7.06% during the next 3 months and, with a 90% probability hold a price between 19.55€ and 22.73€ at the end of this 3-month period.
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EVK.DE Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 1.51%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Evonik Industries AG 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 18.60€ and 19.75€. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Evonik Industries AG stock
Evonik Industries AG finds support from accumulated volume at 18.42€ 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 0.305€ between high and low, or 1.67%. For the last week, the stock has had daily average volatility of 2.00%.
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 Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Evonik Industries AG to open at 18.41€, and during the day (based on 14 day Average True Range), to move between 18.14€ and 18.89€, which gives a possible trading interval of +/-0.375€ (+/-2.02%) up or down from last closing price. If Evonik Industries AG takes out the full calculated possible swing range there will be an estimated 4.05% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 18.42€ (0.51%) than the resistance at 20.17€ (8.94%), 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?
The Evonik Industries AG stock holds several negative signals and despite the positive trend, we believe Evonik Industries AG 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 Hold/Accumulate to a Sell candidate.
Current score: -1.360 Sell Candidate Downgraded
Predicted Opening Price for Evonik Industries AG of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| 18.41€ ( 0.549%) | 18.52€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EVK.DE
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 18.72 | 1.10% |
| R2 | 18.60 | 0.469% |
| R1 | 18.53 | 0.0802% |
| Price | 18.52 | |
| S1 | 18.30 | -1.18% |
| S2 | 18.22 | -1.57% |
| S3 | 18.11 | -2.20% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 20.24 | 9.32% |
| R2 | 20.21 | 9.15% |
| R1 | 20.17 | 8.94% |
| Price | 18.52 | |
| S1 | 18.42 | -0.513% |
| S2 | 17.80 | -3.89% |
| S3 | 17.50 | -5.51% |
EVK Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 05, 2024 | Jun 05, 2024 | Jun 07, 2024 | 1.17€ | 6.35% |
| 2 | Jun 01, 2023 | Jun 01, 2023 | Jun 01, 2023 | 1.17€ | 6.61% |
| 3 | May 26, 2022 | May 26, 2022 | May 26, 2022 | 1.17€ | 4.73% |
| 4 | Jun 03, 2021 | Jun 03, 2021 | Jun 03, 2021 | 1.15€ | 3.97% |
| 5 | Mar 03, 2020 | Sep 01, 2020 | Sep 01, 2020 | 0.580€ | 2.46% |
FAQ
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