Compagnie Generale DES Etablissements Stock Forecast

Compagnie Generale DES Etablissements stock downgraded from Buy Candidate to Hold/Accumulate after Friday trading session.
(Updated on Apr 26, 2024)

MGDDY Signals & Forecast

The Compagnie Generale DES Etablissements 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 $18.93 and $18.92. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, March 20, 2024, and so far it has fallen -3.80%. Further fall is indicated until a new bottom pivot has been found. 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.

Support, Risk & Stop-loss for Compagnie Generale DES Etablissements stock

Compagnie Generale DES Etablissements finds support from accumulated volume at $18.88 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.200 between high and low, or 1.05%. For the last week the stock has had daily average volatility of 1.30%

Our recommended stop-loss: $18.14 (-4.52%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 26 days ago.)

Trading Expectations (MGDDY) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect Compagnie Generale DES Etablissements Michelin SCA to open at $19.04, and during the day (based on 14 day Average True Range), to move between $18.69 and $19.31, which gives a possible trading interval of +/-$0.305 (+/-1.61%) up or down from last closing price. If Compagnie Generale DES Etablissements Michelin SCA takes out the full calculated possible swing range there will be an estimated 3.21% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $18.88 (0.63%) than the resistance at $19.14 (0.74%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Compagnie Generale DES Etablissements Michelin SCA stock A Buy?

Compagnie Generale DES Etablissements 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.897 Hold/Accumulate Downgraded

Predicted Opening Price for Compagnie Generale DES Etablissements Michelin SCA of Monday, April 29, 2024

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