FORTEC Elektronik AG Stock Forecast

FORTEC Elektronik AG stock price ended at 22.80€ on Friday, after gaining 2.70%.
(Updated on May 17, 2024)

FEV.DE Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 5.56%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). FORTEC Elektronik AG has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The FORTEC Elektronik 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 22.86€. On a fall, the stock will find some support from the short-term average at 22.31€. 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.

Support, Risk & Stop-loss for FORTEC Elektronik AG stock

FORTEC Elektronik AG finds support from accumulated volume at 22.60€ 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 0.600€ between high and low, or 2.70%. For the last week the stock has had daily average volatility of 1.82%.

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

Trading Expectations (FEV.DE) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect FORTEC Elektronik AG to open at 22.60€, and during the day (based on 14 day Average True Range), to move between 22.31€ and 23.29€, which gives a possible trading interval of +/-0.485€ (+/-2.13%) up or down from last closing price. If FORTEC Elektronik AG takes out the full calculated possible swing range there will be an estimated 4.25% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 23.00€ (0.88%) than the support at 22.60€ (0.88%), 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 FORTEC Elektronik AG stock A Buy?

FORTEC Elektronik 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: -2.929 Sell Candidate Unchanged

Predicted Opening Price for FORTEC Elektronik AG of Monday, May 20, 2024

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