Meyer Burger Technology AG Stock Forecast
Meyer Burger Technology AG stock downgraded from Buy Candidate to Hold/Accumulate after Friday trading session.
(Updated on Jun 28, 2024)
The Meyer Burger Technology AG stock price gained 2.19% on the last trading day (Friday, 28th Jun 2024), rising from $0.0137 to $0.0140. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.19% from a day low at $0.0137 to a day high of $0.0140. The price has risen in 6 of the last 10 days and is up by 27.27% over the past 2 weeks. Volume fell on the last day by -411 thousand shares and in total, 79 thousand shares were bought and sold for approximately $1.11 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $0.0117, a level that may pose a second chance to hit a runner. According to fan-theory $0.0194 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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MYBUF Signals & Forecast
The Meyer Burger Technology AG stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.0112 and $0.0125. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 72.84%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Meyer Burger Technology AG stock
Meyer Burger Technology AG finds support from accumulated volume at $0.0139 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 $0.0003 between high and low, or 2.19%. For the last week the stock has had daily average volatility of 15.34%.
Our recommended stop-loss: $0.0136 (-3.18%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 39 days ago.)
Trading Expectations (MYBUF) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Meyer Burger Technology AG to open at $0.0139, and during the day (based on 14 day Average True Range), to move between $0.0119 and $0.0161, which gives a possible trading interval of +/-$0.0021 (+/-15.18%) up or down from last closing price. If Meyer Burger Technology AG takes out the full calculated possible swing range there will be an estimated 30.36% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0139 (0.71%) than the resistance at $0.0150 (7.14%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Meyer Burger Technology AG stock A Buy?
Meyer Burger Technology 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. 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: 0.391 Hold/Accumulate Downgraded
Predicted Opening Price for Meyer Burger Technology AG of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $0.0139 ( 0.714%) | $0.0140 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MYBUF
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0142 | 1.43% |
| R2 | 0.0141 | 0.610% |
| R1 | 0.0140 | 0.104% |
| Price | 0.0140 | |
| S1 | 0.0138 | -1.53% |
| S2 | 0.0137 | -2.04% |
| S3 | 0.0136 | -2.86% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0173 | 23.57% |
| R2 | 0.0160 | 14.29% |
| R1 | 0.0150 | 7.14% |
| Price | 0.0140 | |
| S1 | 0.0139 | -0.714% |
| S2 | 0.0135 | -3.57% |
| S3 | 0.0120 | -14.29% |
FAQ
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