Icade Stock Forecast

Green day on Thursday for Icade
(Updated on May 09, 2024)

ICAD.PA Signals & Forecast

The Icade 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 26.09€ and 24.94€. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 12.84%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.

Support, Risk & Stop-loss for Icade stock

Icade finds support from accumulated volume at 25.36€ 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved 0.380€ between high and low, or 1.44%. For the last week the stock has had daily average volatility of 1.89%.

The Icade stock is overbought on RSI14 and the RSI has been falling for the last couple of days. This together with the fact that the stock is in the upper part of the trend poses a possible good selling opportunity for the short-term trader. However, one should note that some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs. Since the Icade has been rising for 6 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.

Our recommended stop-loss: 25.48€ (-3.99%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 74 and this increases the risk substantially. There is a buy signal from a pivot bottom found 16 days ago.)

Trading Expectations (ICAD.PA) For The Upcoming Trading Day Of Friday 10th

For the upcoming trading day on Friday, 10th we expect Icade to open at 26.56€, and during the day (based on 14 day Average True Range), to move between 25.88€ and 27.20€, which gives a possible trading interval of +/-0.659€ (+/-2.48%) up or down from last closing price. If Icade takes out the full calculated possible swing range there will be an estimated 4.97% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 27.62€ (4.07%) than the support at 25.36€ (4.45%), 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 Icade stock A Buy?

Icade holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.631 Hold/Accumulate Unchanged

Predicted Opening Price for Icade of Friday, May 10, 2024

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