Credit Suisse AG stock downgraded to Sell Candidate
(Updated on Nov 26, 2021)
Sell candidate since 2021-11-24 Loss -0.24% PDF
The Credit Suisse AG stock price fell by -0.24% on the last day (Friday, 26th Nov 2021) from $8.39 to $8.37. During the day the stock fluctuated 0.96% from a day low at $8.37 to a day high of $8.45. The price has fallen in 7 of the last 10 days and is down by -3.57% for this period. Volume has increased on the last day by 16 thousand 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, 84 thousand shares were bought and sold for approximately $704.64 thousand.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Credit Suisse AG stock with a 90% probability to be traded between $8.22 and $8.72 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Signals & Forecast
There are few to no technical positive signals at the moment. The Credit Suisse AG stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $8.52 and $8.50. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, November 17, 2021, and so far it has fallen -3.79%. 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). Credit Suisse AG gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss
Credit Suisse AG finds support from accumulated volume at $8.35 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 $0.0800 between high and low, or 0.96%. For the last week the stock has had a daily average volatility of 0.87%.
Our recommended stop-loss: We hold an negative evaluation for this stock. No stop-loss is set.
Is Credit Suisse AG stock A Buy?
Credit Suisse AG holds several negative signals and is within a falling trend, so we believe 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: -1.303
Predicted Opening Price for Credit Suisse AG of Monday, November 29, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price November 29, 2021||Current price|
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