Inditex SA Stock Forecast
Inditex SA stock price down 0.402% on Friday
(Updated on Jun 21, 2024)
The Inditex SA stock price fell by -0.402% on the last day (Friday, 21st Jun 2024) from 47.24€ to 47.05€. During the last trading day the stock fluctuated 0.765% from a day low at 47.05€ to a day high of 47.41€. The price has risen in 6 of the last 10 days and is up by 4% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -42 shares and in total, 980 shares were bought and sold for approximately 46.11€ thousand.
The stockis at the upper part of a horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at 47.25€ will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Inditex SA stock with a 90% probability to be traded between 43.60€ and 47.86€ 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.
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IXD1.DE Signals & Forecast
The Inditex 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 46.54€ and 44.60€. 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, June 20, 2024, and so far it has fallen -0.402%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Inditex SA stock
Inditex SA finds support from accumulated volume at 46.49€ 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 0.360€ between high and low, or 0.765%. For the last week the stock has had daily average volatility of 0.86%.
Our recommended stop-loss: 45.29€ (-3.74%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 35 days ago.)
Trading Expectations (IXD1.DE) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Inditex SA to open at 47.17€, and during the day (based on 14 day Average True Range), to move between 46.40€ and 47.70€, which gives a possible trading interval of +/-0.651€ (+/-1.38%) up or down from last closing price. If Inditex SA takes out the full calculated possible swing range there will be an estimated 2.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 47.13€ (0.17%) than the support at 46.49€ (1.19%), 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 Inditex SA stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Inditex SA stock to perform well in the short-term period.
Current score: 1.855 Buy Candidate Unchanged
Predicted Opening Price for Inditex SA of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| 47.17€ ( 0.255%) | 47.05€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IXD1.DE
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 47.53 | 1.02% |
| R2 | 47.39 | 0.728% |
| R1 | 47.31 | 0.547% |
| Price | 47.05 | |
| S1 | 47.03 | -0.0372% |
| S2 | 46.95 | -0.218% |
| S3 | 46.81 | -0.510% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 47.24 | 0.404% |
| R1 | 47.13 | 0.170% |
| Price | 47.05 | |
| S1 | 46.49 | -1.19% |
| S2 | 45.96 | -2.32% |
| S3 | 42.92 | -8.78% |
IXD1 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Oct 31, 2024 | Oct 31, 2024 | Nov 04, 2024 | 0.624€ | 1.33% |
| 2 | Apr 29, 2024 | Apr 29, 2024 | May 02, 2024 | 0.770€ | 1.79% |
| 3 | Oct 31, 2023 | Oct 31, 2023 | Nov 02, 2023 | 0.404€ | 1.23% |
| 4 | Apr 27, 2023 | Apr 27, 2023 | Apr 27, 2023 | 0.600€ | 1.94% |
| 5 | Oct 31, 2022 | Oct 31, 2022 | Oct 31, 2022 | 0.300€ | 1.31% |
FAQ
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