Formycon AG Stock Forecast
Formycon AG stock price ended at 44.30€ on Friday, after losing 0%.
(Updated on May 17, 2024)
No changes to the price of Formycon AG stock on the last trading day (Friday, 17th May 2024). During the last trading day the stock fluctuated 2.29% from a day low at 43.70€ to a day high of 44.70€. The price has risen in 4 of the last 10 days and is up by 2.55% over the past 2 weeks.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at 45.07€ will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -18.36% during the next 3 months and, with a 90% probability hold a price between 28.75€ and 36.79€ at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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FYB.F Signals & Forecast
Mostly positive signals in the chart today. The Formycon AG stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at 43.49€ and 43.27€. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 15.97%. 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). Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". The stock had a Golden Star Signal on Tuesday, May 14, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Tuesday, May 14, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Formycon AG stock
Formycon AG finds support from accumulated volume at 43.60€ 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 1.00€ between high and low, or 2.29%. For the last week, the stock has had daily average volatility of 3.00%.
Our recommended stop-loss: 42.07€ (-5.04%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 18 days ago.)
Trading Expectations (FYB.F) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Formycon AG to open at 44.23€, and during the day (based on 14 day Average True Range), to move between 42.41€ and 46.19€, which gives a possible trading interval of +/-1.89€ (+/-4.26%) up or down from last closing price. If Formycon AG takes out the full calculated possible swing range there will be an estimated 8.52% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 43.60€ (1.58%) than the resistance at 45.55€ (2.82%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Formycon AG stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 2.761 Buy Candidate Unchanged
Predicted Opening Price for Formycon AG of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| 44.23€ ( 0.150%) | 44.30€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FYB.F
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 45.23 | 2.11 % | |
| R2 | 44.85 | 1.24 % | ||
| R1 | 44.62 | 0.712 % | ||
| Current price: | 44.30 | |||
| Support | S1 | 43.85 | -1.01 % | |
| S2 | 43.62 | -1.55 % | ||
| S3 | 43.23 | -2.41 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 50.70 | 14.45 % | |
| R2 | 46.35 | 4.63 % | ||
| R1 | 45.55 | 2.82 % | ||
| Current price | 44.30 | |||
| Support | S1 | 43.60 | -1.58% | |
| S2 | 43.20 | -2.48% | ||
| S3 | 40.20 | -9.26% |
FAQ
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