ID Logistics Group SA Stock Forecast
Green day on Thursday for ID Logistics Group SA stock after gaining 1.37%
(Updated on May 09, 2024)
The ID Logistics Group SA stock price gained 1.37% on the last trading day (Thursday, 9th May 2024), rising from 364.00€ to 369.00€. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.79% from a day low at 363.50€ to a day high of 370.00€. The price has risen in 7 of the last 10 days and is up by 5.88% over the past 2 weeks. Volume fell on the last day by -3 thousand shares and in total, 2 thousand shares were bought and sold for approximately 825.08€ thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock has broken the weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at 367.88€, a level that may pose a second chance to hit a runner. According to fan-theory 400.09€ will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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IDL.PA Signals & Forecast
The ID Logistics Group SA 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 351.00€ and 340.86€. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 11, 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 ID Logistics Group SA stock
On the downside, the stock finds support just below today's level from accumulated volume at 338.00€ and 336.00€. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, ID Logistics Group SA finds support just below today's level at 338.00€. If this is broken, then the next support from accumulated volume will be at 336.00€ and 334.00€.
In general the stock tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved 6.50€ between high and low, or 1.79%. For the last week the stock has had daily average volatility of 2.21%.
The ID Logistics Group SA stock is extremely overbought on RSI14 (76). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: 351.57€ (-4.72%) (This stock has low daily movements and this gives low risk. The RSI14 is 76 and this increases the risk substantially. There is a buy signal from a pivot bottom found 19 days ago.)
Trading Expectations (IDL.PA) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect ID Logistics Group SA to open at 367.50€, and during the day (based on 14 day Average True Range), to move between 361.31€ and 376.69€, which gives a possible trading interval of +/-7.69€ (+/-2.08%) up or down from last closing price. If ID Logistics Group SA takes out the full calculated possible swing range there will be an estimated 4.17% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ 338.00€, some 31.00€ (8.40%) from the current price of 369.00€, our system finds the risk reward attractive.
Is ID Logistics Group SA stock A Buy?
ID Logistics Group SA 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: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for ID Logistics Group SA of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| 367.50€ ( 0.407%) | 369.00€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IDL.PA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 374.00 | 1.36 % | |
| R2 | 371.52 | 0.682 % | ||
| R1 | 369.98 | 0.266 % | ||
| Current price: | 369.00 | |||
| Support | S1 | 365.02 | -1.08 % | |
| S2 | 363.48 | -1.50 % | ||
| S3 | 361.00 | -2.17 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 369.00 | |||
| Support | S1 | 338.00 | -8.40% | |
| S2 | 336.00 | -8.94% | ||
| S3 | 334.00 | -9.49% |
FAQ
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