Evonik Industries AG Stock Forecast
Evonik Industries AG stock downgraded to Sell Candidate
(Updated on Jun 12, 2024)
The Evonik Industries AG stock price gained 0.96% on the last trading day (Wednesday, 12th Jun 2024), rising from 18.82€ to 19.00€. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.41% from a day low at 18.83€ to a day high of 19.10€. The price has fallen in 6 of the last 10 days and is down by -5% for this period. Volume fell on the last day by -83 thousand shares and in total, 1 million shares were bought and sold for approximately 21.20€ 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 strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at 18.53€ 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 11.67% during the next 3 months and, with a 90% probability hold a price between 20.69€ and 23.93€ at the end of this 3-month period.
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EVK.F 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 19.81€. On a fall, the stock will find some support from the short-term average at 18.82€. 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). A buy signal was issued from a pivot bottom point on Friday, June 07, 2024, and so far it has risen 3.15%. 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.
Support, Risk & Stop-loss for Evonik Industries AG stock
Evonik Industries AG finds support from accumulated volume at 18.69€ 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 0.265€ between high and low, or 1.41%. For the last week, the stock has had daily average volatility of 1.65%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EVK.F) For The Upcoming Trading Day Of Thursday 13th
For the upcoming trading day on Thursday, 13th we expect Evonik Industries AG to open at 18.98€, and during the day (based on 14 day Average True Range), to move between 18.63€ and 19.37€, which gives a possible trading interval of +/-0.367€ (+/-1.93%) up or down from last closing price. If Evonik Industries AG takes out the full calculated possible swing range there will be an estimated 3.87% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 18.69€ (1.63%) than the resistance at 20.17€ (6.16%), 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. 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: -1.487 Sell Candidate Downgraded
Predicted Opening Price for Evonik Industries AG of Thursday, June 13, 2024
| Fair opening price June 13, 2024 | Current price |
|---|---|
| 18.98€ ( 0.132%) | 19.00€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EVK.F
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 19.24 | 1.26% |
| R2 | 19.14 | 0.730% |
| R1 | 19.08 | 0.401% |
| Price | 19.00 | |
| S1 | 18.87 | -0.664% |
| S2 | 18.81 | -0.99% |
| S3 | 18.71 | -1.53% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 20.24 | 6.53% |
| R2 | 20.21 | 6.37% |
| R1 | 20.17 | 6.16% |
| Price | 19.00 | |
| S1 | 18.69 | -1.63% |
| S2 | 17.06 | -10.21% |
| S3 | 17.04 | -10.34% |
EVK Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 05, 2024 | Jun 05, 2024 | Jun 07, 2024 | 1.17€ | 0% |
| 2 | Jun 01, 2023 | Jun 01, 2023 | Jun 01, 2023 | 1.17€ | 0% |
| 3 | May 26, 2022 | May 26, 2022 | May 26, 2022 | 1.17€ | 0% |
| 4 | Jun 03, 2021 | Jun 03, 2021 | Jun 03, 2021 | 1.15€ | 0% |
| 5 | Mar 03, 2020 | Sep 01, 2020 | Sep 01, 2020 | 0.580€ | 0% |
FAQ
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