Inditex SA Stock Forecast

Inditex SA stock downgraded to Hold/Accumulate
(Updated on Jun 27, 2024)

IXD1.DE Signals & Forecast

The Inditex SA stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately 46.98€. On a fall, the stock will find some support from the long-term average at approximately 45.04€. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Monday, June 24, 2024, and so far it has fallen -1.27%. 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). Inditex SA 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 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 is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved 0.250€ (0.539%) between high and low. For the last week, the stock has had daily average volatility of 0.746%.

Our recommended stop-loss: 45.15€ (-3.22%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 39 days ago.)

Trading Expectations (IXD1.DE) For The Upcoming Trading Day Of Friday 28th

For the upcoming trading day on Friday, 28th we expect Inditex SA to open at 46.57€, and during the day (based on 14 day Average True Range), to move between 46.02€ and 47.28€, which gives a possible trading interval of +/-0.627€ (+/-1.34%) up or down from last closing price. If Inditex SA takes out the full calculated possible swing range there will be an estimated 2.69% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at 46.49€ (0.34%) than the resistance at 47.05€ (0.86%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Inditex SA stock A Buy?

Inditex SA holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: -0.364 Hold/Accumulate Downgraded

Predicted Opening Price for Inditex SA of Friday, June 28, 2024

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