Medion AG Stock Forecast

Green day on Tuesday for Medion AG stock after gaining 4.31%
(Updated on Jun 04, 2024)

MDN.DE Signals & Forecast

The Medion AG 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 11.61€ and 11.33€. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 09, 2024, and so far it has risen 12.04%. 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). Medion AG has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Medion AG stock

Medion AG finds support from accumulated volume at 11.50€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 1.00€ between high and low, or 8.62%. For the last week, the stock has had daily average volatility of 2.08%.

The Medion AG stock is extremely overbought on RSI14 (75). 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.

Our recommended stop-loss: 11.49€ (-5.02%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 75 and this increases the risk substantially. There is a buy signal from a pivot bottom found 22 days ago.)

Trading Expectations (MDN.DE) For The Upcoming Trading Day Of Wednesday 5th

For the upcoming trading day on Wednesday, 5th we expect Medion AG to open at 12.10€, and during the day (based on 14 day Average True Range), to move between 11.82€ and 12.38€, which gives a possible trading interval of +/-0.275€ (+/-2.28%) up or down from last closing price. If Medion AG takes out the full calculated possible swing range there will be an estimated 4.55% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ 11.50€, some 0.600€ (4.96%) from the current price of 12.10€, our system finds the risk reward attractive.

Is Medion AG stock A Buy?

Medion AG 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 Medion AG of Wednesday, June 5, 2024

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