Intertainment AG Stock Forecast
Weaker technical forecast for Intertainment AG as stock downgraded to Hold/Accumulate.
(Updated on May 31, 2024)
The Intertainment AG stock price fell by -3.59% on the last day (Friday, 31st May 2024) from 0.446€ to 0.430€. During the last trading day the stock fluctuated 6.97% from a day low at 0.402€ to a day high of 0.430€. The price has risen in 4 of the last 10 days and is up by 10.26% over the past 2 weeks. Volume has increased on the last day by 1 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, 2 thousand shares were bought and sold for approximately 744.33€ .
The stock lies in the upper part of a very wide and weak rising 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 0.447€ will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 9.91% during the next 3 months and, with a 90% probability hold a price between 0.383€ and 0.491€ at the end of this 3-month period.
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ITN.F Signals & Forecast
The Intertainment 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 0.427€ and 0.379€. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Thursday, May 30, 2024, and so far it has fallen -3.59%. Further fall is indicated until a new bottom pivot has been found. Intertainment 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". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Intertainment AG stock
Intertainment AG finds support from accumulated volume at 0.416€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved 0.0280€ between high and low, or 6.97%. For the last week, the stock has had daily average volatility of 3.45%.
The Intertainment AG stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but 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.
Our recommended stop-loss: 0.414€ (-3.69%) (This stock has high daily movements and this gives high risk. The RSI14 is 80 and this increases the risk substantially. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (ITN.F) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Intertainment AG to open at 0.421€, and during the day (based on 14 day Average True Range), to move between 0.414€ and 0.446€, which gives a possible trading interval of +/-0.0165€ (+/-3.83%) up or down from last closing price. If Intertainment AG takes out the full calculated possible swing range there will be an estimated 7.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 0.416€ (3.26%) than the resistance at 0.446€ (3.72%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Intertainment AG stock A Buy?
Intertainment AG 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.320 Hold/Accumulate Downgraded
Predicted Opening Price for Intertainment AG of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| 0.421€ ( 2.17%) | 0.430€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ITN.F
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.449 | 4.34 % | |
| R2 | 0.438 | 1.85 % | ||
| R1 | 0.431 | 0.317 % | ||
| Current price: | 0.430 | |||
| Support | S1 | 0.410 | -4.66 % | |
| S2 | 0.403 | -6.19 % | ||
| S3 | 0.393 | -8.68 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0.446 | 3.72 % | ||
| Current price | 0.430 | |||
| Support | S1 | 0.416 | -3.26% | |
| S2 | 0.402 | -6.51% | ||
| S3 | 0.368 | -14.42% |
FAQ
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