Meyer Burger Technology AG Stock Forecast
Green day on Friday for Meyer Burger Technology AG stock after gaining 1.80%
(Updated on May 03, 2024)
The Meyer Burger Technology AG stock price gained 1.80% on the last trading day (Friday, 3rd May 2024), rising from 0.0111 Fr to 0.0113 Fr. During the last trading day the stock fluctuated 5.45% from a day low at 0.0110 Fr to a day high of 0.0116 Fr. The price has risen in 6 of the last 10 days and is up by 13% over the past 2 weeks. Volume fell on the last day by -141 million shares and in total, 69 million shares were bought and sold for approximately 777.07 Fr 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 stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is -0.0093 Fr, a level that may pose a second chance to hit a runner. According to fan-theory 0.0277 Fr will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt. Due to the high volatility and the trend direction we are not able to give forecast range for this stock. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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MBTN.SW Signals & Forecast
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. The Meyer Burger Technology AG stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at 0.0113 Fr and 0.0190 Fr. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 27, 2024, and so far it has fallen -64.35%. Further fall is indicated until a new bottom pivot has been found. 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 Meyer Burger Technology AG stock
On the downside, the stock finds support just below today's level from accumulated volume at 0.0102 Fr and 0.0100 Fr. 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, Meyer Burger Technology AG finds support just below today's level at 0.0102 Fr. If this is broken, then the next support from accumulated volume will be at 0.0100 Fr and 0.0097 Fr.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved 0.0006 Fr between high and low, or 5.45%. For the last week the stock has had daily average volatility of 15.06%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MBTN.SW) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Meyer Burger Technology AG to open at 0.0113 Fr, and during the day (based on 14 day Average True Range), to move between 0.0085 Fr and 0.0141 Fr, which gives a possible trading interval of +/-0.0028 Fr (+/-25.19%) up or down from last closing price. If Meyer Burger Technology AG takes out the full calculated possible swing range there will be an estimated 50.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 0.0115 Fr (1.77%) than the support at 0.0102 Fr (9.73%), 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 Meyer Burger Technology AG stock A Buy?
Meyer Burger Technology AG holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -5.375 Strong Sell Candidate Unchanged
Predicted Opening Price for Meyer Burger Technology AG of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| 0.0113 Fr ( 0%) | 0.0113 Fr |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MBTN.SW
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0119 | 5.31 % | |
| R2 | 0.0117 | 3.28 % | ||
| R1 | 0.0115 | 2.03 % | ||
| Current price: | 0.0113 | |||
| Support | S1 | 0.0111 | -2.03 % | |
| S2 | 0.0109 | -3.28 % | ||
| S3 | 0.0107 | -5.31 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0135 | 19.47 % | |
| R2 | 0.0133 | 17.70 % | ||
| R1 | 0.0115 | 1.77 % | ||
| Current price | 0.0113 | |||
| Support | S1 | 0.0102 | -9.73% | |
| S2 | 0.0100 | -11.50% | ||
| S3 | 0.0097 | -14.16% |
FAQ
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