Neoen S.A. Stock Forecast

Evaluation of Neoen S.A. stock downgraded after the last trading session.
(Updated on May 17, 2024)

NEOEN.PA Signals & Forecast

The Neoen S.A. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately 30.27€. On a fall, the stock will find some support from the long-term average at approximately 29.09€. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Tuesday, May 07, 2024, and so far it has fallen -3.46%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss for Neoen S.A. stock

Neoen S.A. finds support from accumulated volume at 28.54€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved 0.90€ (3.06%) between high and low. For the last week, the stock has had daily average volatility of 2.36%.

Our recommended stop-loss: 28.46€ (-3.85%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 8 days ago.)

Trading Expectations (NEOEN.PA) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Neoen S.A. to open at 29.79€, and during the day (based on 14 day Average True Range), to move between 28.76€ and 30.44€, which gives a possible trading interval of +/-0.84€ (+/-2.84%) up or down from last closing price. If Neoen S.A. takes out the full calculated possible swing range there will be an estimated 5.67% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 29.86€ (0.88%) than the support at 28.54€ (3.58%), 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 Neoen S.A. stock A Buy?

Neoen S.A. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: -0.156 Hold/Accumulate Downgraded

Predicted Opening Price for Neoen S.A. of Monday, May 20, 2024

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