Medigene AG Stock Forecast
Medigene AG stock downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on May 03, 2024)
The Medigene AG stock price fell by -0.323% on the last day (Friday, 3rd May 2024) from 1.55€ to 1.55€. During the last trading day the stock fluctuated 9.28% from a day low at 1.46€ to a day high of 1.59€. The price has fallen in 7 of the last 10 days and is down by -19.74% for this period. 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 -25 thousand shares and in total, 56 thousand shares were bought and sold for approximately 86.22€ thousand.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at 1.39€ is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 16.77% during the next 3 months and, with a 90% probability hold a price between 1.63€ and 3.38€ at the end of this 3-month period.
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MDG1.F Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 11.96%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Medigene AG stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at 1.90€. On a fall, the stock will find some support from the short-term average at 1.52€. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Medigene AG stock
Medigene AG finds support from accumulated volume at 1.51€ 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 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 0.135€ between high and low, or 9.28%. For the last week the stock has had daily average volatility of 10.66%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MDG1.F) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Medigene AG to open at 1.53€, and during the day (based on 14 day Average True Range), to move between 1.35€ and 1.74€, which gives a possible trading interval of +/-0.191€ (+/-12.37%) up or down from last closing price. If Medigene AG takes out the full calculated possible swing range there will be an estimated 24.74% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 1.55€ (0.32%) than the support at 1.51€ (2.59%), 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 Medigene AG stock A Buy?
Medigene AG holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.607 Sell Candidate Downgraded
Predicted Opening Price for Medigene AG of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| 1.53€ ( 0.97%) | 1.55€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MDG1.F
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.67 | 7.77 % | |
| R2 | 1.61 | 4.43 % | ||
| R1 | 1.58 | 2.37 % | ||
| Current price: | 1.55 | |||
| Support | S1 | 1.48 | -4.31 % | |
| S2 | 1.45 | -6.37 % | ||
| S3 | 1.40 | -9.71 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.72 | 11.33 % | |
| R2 | 1.59 | 2.91 % | ||
| R1 | 1.55 | 0.324 % | ||
| Current price | 1.55 | |||
| Support | S1 | 1.51 | -2.59% | |
| S2 | 1.50 | -2.91% | ||
| S3 | 1.38 | -10.68% |
FAQ
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