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
Evonik Industries AG stock upgraded to Hold/Accumulate.
(Updated on Jun 14, 2024)
The Evonik Industries AG stock price fell by -2.36% on the last day (Friday, 14th Jun 2024) from 18.68€ to 18.24€. During the last trading day the stock fluctuated 2.91% from a day low at 18.19€ to a day high of 18.72€. The price has fallen in 7 of the last 10 days and is down by -9.57% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -238 thousand shares and in total, 952 thousand shares were bought and sold for approximately 17.37€ million.
Given the current short-term trend, the stock is expected to rise 8.55% during the next 3 months and, with a 90% probability hold a price between 19.80€ and 23.13€ at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
EVK.DE Signals & Forecast
There are few to no technical positive signals at the moment. 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 18.61€ and 19.77€. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 15, 2024, and so far it has fallen -11.93%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Evonik Industries AG stock
Evonik Industries AG finds support from accumulated volume at 17.80€ 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 0.530€ between high and low, or 2.91%. For the last week, the stock has had daily average volatility of 1.94%.
Evonik Industries AG is oversold on RSI14 (23). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: 17.05€ (-6.54%) (This stock has medium daily movements and this gives medium risk. Low RSI14 is 23 which reduces the risk some. There is a sell signal from a pivot top found 35 days ago.)
Trading Expectations (EVK.DE) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect Evonik Industries AG to open at 18.38€, and during the day (based on 14 day Average True Range), to move between 17.86€ and 18.62€, which gives a possible trading interval of +/-0.380€ (+/-2.08%) up or down from last closing price. If Evonik Industries AG takes out the full calculated possible swing range there will be an estimated 4.17% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 17.80€ (2.44%) than the resistance at 20.17€ (10.58%), 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 this should be a sell candidate, but due to the general chance for a turnaround situation 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: -0.746 Hold/Accumulate Upgraded
Predicted Opening Price for Evonik Industries AG of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| 18.38€ ( 0.786%) | 18.24€ |
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 | 18.91 | 3.69% |
| R2 | 18.71 | 2.58% |
| R1 | 18.59 | 1.90% |
| Price | 18.24 | |
| S1 | 18.18 | -0.324% |
| S2 | 18.06 | -1.01% |
| S3 | 17.85 | -2.12% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 20.24 | 10.96% |
| R2 | 20.21 | 10.80% |
| R1 | 20.17 | 10.58% |
| Price | 18.24 | |
| S1 | 17.80 | -2.44% |
| S2 | 17.50 | -4.08% |
| S3 | 17.06 | -6.47% |
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
Click here for our free guide on how to buy Evonik Industries AG Stock.
