Mediobanca Banca di Credito Finanziario Stock Forecast

Green day on Wednesday for Mediobanca Banca di Credito Finanziario
(Updated on May 15, 2024)

MB.MI Signals & Forecast

The Mediobanca Banca di Credito Finanziario 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 14.47€ and 13.77€. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 13.82%. 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). Volume is rising along with the price. This is considered to be a good technical signal.

Support, Risk & Stop-loss for Mediobanca Banca di Credito Finanziario stock

On the downside, the stock finds support just below today's level from accumulated volume at 13.45€ and 12.95€. 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, Mediobanca Banca di Credito Finanziario finds support just below today's level at 13.45€. If this is broken, then the next support from accumulated volume will be at 12.95€ and 12.35€.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved 0.405€ between high and low, or 2.72%. For the last week, the stock has had daily average volatility of 1.90%.

The Mediobanca Banca di Credito Finanziario stock is extremely overbought on RSI14 (85). 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. Since the Mediobanca Banca di Credito Finanziario has been rising for 9 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: 14.69€ (-3.30%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 85 and this increases the risk substantially. There is a buy signal from a pivot bottom found 10 days ago.)

Trading Expectations (MB.MI) For The Upcoming Trading Day Of Thursday 16th

For the upcoming trading day on Thursday, 16th we expect Mediobanca Banca di Credito Finanziario S.p.A. to open at 15.13€, and during the day (based on 14 day Average True Range), to move between 14.95€ and 15.44€, which gives a possible trading interval of +/-0.249€ (+/-1.64%) up or down from last closing price. If Mediobanca Banca di Credito Finanziario S.p.A. takes out the full calculated possible swing range there will be an estimated 3.28% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ 13.45€, some 1.75€ (11.52%) from the current price of 15.20€, our system finds the risk reward attractive.

Is Mediobanca Banca di Credito Finanziario S.p.A. stock A Buy?

Mediobanca Banca di Credito Finanziario 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 Mediobanca Banca di Credito Finanziario S.p.A. of Thursday, May 16, 2024

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