Medigene AG Stock Forecast
Medigene AG stock price down 0.707% on Friday
(Updated on May 17, 2024)
The Medigene AG stock price fell by -0.707% on the last day (Friday, 17th May 2024) from 1.42€ to 1.41€. During the last trading day the stock fluctuated 4.27% from a day low at 1.41€ to a day high of 1.47€. The price has fallen in 6 of the last 10 days and is down by -9.06% 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 -20 thousand shares and in total, 20 thousand shares were bought and sold for approximately 28.45€ thousand.
The stock is at the lower part of a very wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at 1.38€ will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Medigene AG stock with a 90% probability to be traded between 1.37€ and 2.71€ 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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MDG1.F Signals & Forecast
There are mixed signals in the stock today. The Medigene 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 1.46€ and 1.77€. A break-up above any of these levels will issue buy signals. 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. A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 1.81%. 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).
Support, Risk & Stop-loss for Medigene AG stock
Medigene AG finds support from accumulated volume at 1.38€ 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 much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved 0.0600€ between high and low, or 4.27%. For the last week the stock has had daily average volatility of 5.78%.
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 20th
For the upcoming trading day on Monday, 20th we expect Medigene AG to open at 1.43€, and during the day (based on 14 day Average True Range), to move between 1.26€ and 1.55€, which gives a possible trading interval of +/-0.145€ (+/-10.29%) up or down from last closing price. If Medigene AG takes out the full calculated possible swing range there will be an estimated 20.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 1.38€ (1.78%) than the resistance at 1.44€ (2.49%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
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.
Current score: -2.120 Sell Candidate Unchanged
Predicted Opening Price for Medigene AG of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| 1.43€ ( 1.42%) | 1.41€ |
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 | 1.49 | 5.69 % | |
| R2 | 1.46 | 4.06 % | ||
| R1 | 1.45 | 3.05 % | ||
| Current price: | 1.41 | |||
| Support | S1 | 1.40 | -0.208 % | |
| S2 | 1.39 | -1.22 % | ||
| S3 | 1.37 | -2.85 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.72 | 22.42 % | |
| R2 | 1.55 | 10.32 % | ||
| R1 | 1.44 | 2.49 % | ||
| Current price | 1.41 | |||
| Support | S1 | 1.38 | -1.78% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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