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
Red day on Friday for Evonik Industries AG stock after losing 0.346%
(Updated on May 31, 2024)
The Evonik Industries AG stock price fell by -0.346% on the last day (Friday, 31st May 2024) from 20.24€ to 20.17€. During the last trading day the stock fluctuated 1.55% from a day low at 19.96€ to a day high of 20.27€. The price has risen in 7 of the last 10 days and is up by 0.15% over the past 2 weeks. Volume has increased on the last day by 2 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 3 million shares were bought and sold for approximately 57.54€ million.
The stock lies in the lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at 20.12€ 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 21.46% during the next 3 months and, with a 90% probability hold a price between 24.44€ and 26.06€ at the end of this 3-month period.
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EVK.F Signals & Forecast
A sell signal was issued from a pivot top point on Wednesday, May 15, 2024, and so far it has fallen -2.61%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. Some positive signals were issued as well, and these may have some influence on the near short-term development. The Evonik Industries AG stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately 20.20€. On a fall, the stock will find some support from the long-term average at approximately 19.86€. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal.
Support, Risk & Stop-loss for Evonik Industries AG stock
Evonik Industries AG finds support from accumulated volume at 19.37€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved 0.310€ between high and low, or 1.55%. For the last week the stock has had daily average volatility of 1.45%.
Our recommended stop-loss: 19.44€ (-3.60%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 25 days ago.)
Trading Expectations (EVK.F) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Evonik Industries AG to open at 20.13€, and during the day (based on 14 day Average True Range), to move between 19.85€ and 20.49€, which gives a possible trading interval of +/-0.322€ (+/-1.60%) up or down from last closing price. If Evonik Industries AG takes out the full calculated possible swing range there will be an estimated 3.20% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 20.21€ (0.20%) than the support at 19.37€ (3.99%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Evonik Industries AG stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.
Current score: 1.357 Buy Candidate Unchanged
Predicted Opening Price for Evonik Industries AG of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| 20.13€ ( 0.182%) | 20.17€ |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 20.44 | 1.36 % | |
| R2 | 20.32 | 0.768 % | ||
| R1 | 20.25 | 0.405 % | ||
| Current price: | 20.17 | |||
| Support | S1 | 20.01 | -0.769 % | |
| S2 | 19.94 | -1.13 % | ||
| S3 | 19.82 | -1.72 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 20.31 | 0.694 % | |
| R2 | 20.24 | 0.347 % | ||
| R1 | 20.21 | 0.198 % | ||
| Current price | 20.17 | |||
| Support | S1 | 19.37 | -3.99% | |
| S2 | 17.06 | -15.42% | ||
| S3 | 17.04 | -15.54% |
EVK Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 05, 2024 | Jun 05, 2024 | Jun 05, 2024 | 0€ | 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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