Compagnie Générale des Établissements Stock Forecast
Compagnie Générale des Établissements stock downgraded to Buy Candidate
(Updated on May 03, 2024)
The Compagnie Générale des Établissements stock price fell by -0.383% on the last day (Friday, 3rd May 2024) from 36.52€ to 36.38€. During the last trading day the stock fluctuated 1.13% from a day low at 36.38€ to a day high of 36.79€. The price has been going up and down for this period, and there has been a 3.94% gain for the last 2 weeks. 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 -439 thousand shares and in total, 1 million shares were bought and sold for approximately 37.74€ million.
The stock lies in the upper part of a strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at 36.59€ will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 13.08% during the next 3 months and, with a 90% probability hold a price between 39.23€ and 41.38€ at the end of this 3-month period.
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ML.PA Signals & Forecast
The Compagnie Générale des Établissements 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 36.12€ and 35.41€. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Thursday, May 02, 2024, and so far it has fallen -0.383%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Compagnie Générale des Établissements stock
Compagnie Générale des Établissements finds support from accumulated volume at 35.36€ 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved 0.410€ between high and low, or 1.13%. For the last week the stock has had daily average volatility of 1.75%.
Our recommended stop-loss: 35.01€ (-3.77%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (ML.PA) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Compagnie Générale des Établissements Michelin to open at 36.52€, and during the day (based on 14 day Average True Range), to move between 35.78€ and 36.98€, which gives a possible trading interval of +/-0.601€ (+/-1.65%) up or down from last closing price. If Compagnie Générale des Établissements Michelin takes out the full calculated possible swing range there will be an estimated 3.31% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 36.52€ (0.38%) than the support at 35.36€ (2.80%), 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 Compagnie Générale des Établissements Michelin stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Compagnie Générale des Établissements stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 3.695 Buy Candidate Downgraded
Predicted Opening Price for Compagnie Générale des Établissements Michelin of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| 36.52€ ( 0.376%) | 36.38€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ML.PA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 36.93 | 1.50 % | |
| R2 | 36.77 | 1.07 % | ||
| R1 | 36.67 | 0.81 % | ||
| Current price: | 36.38 | |||
| Support | S1 | 36.36 | -0.0548 % | |
| S2 | 36.26 | -0.321 % | ||
| S3 | 36.11 | -0.751 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 36.52 | 0.385 % | ||
| Current price | 36.38 | |||
| Support | S1 | 35.36 | -2.80% | |
| S2 | 34.19 | -6.02% | ||
| S3 | 32.93 | -9.48% |
ML Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 22, 2024 | May 22, 2024 | May 24, 2024 | 1.35€ | 3.70% |
| 2 | May 17, 2023 | May 17, 2023 | May 17, 2023 | 1.25€ | 4.55% |
| 3 | May 17, 2022 | May 17, 2022 | May 17, 2022 | 1.13€ | 3.86% |
| 4 | May 25, 2021 | May 25, 2021 | May 25, 2021 | 0.575€ | 1.90% |
| 5 | Feb 10, 2020 | Jul 01, 2020 | Jul 01, 2020 | 0.500€ | 2.21% |
FAQ
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