OMV Aktiengesellschaft Stock Forecast

Green day on Friday for OMV Aktiengesellschaft stock after gaining 0.643%
(Updated on May 10, 2024)

OMV.F Signals & Forecast

The OMV Aktiengesellschaft 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 45.19€ and 44.11€. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 26, 2024, and so far it has risen 9.00%. 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). OMV Aktiengesellschaft 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. Higher liquidity also reduces the general risk.

Support, Risk & Stop-loss for OMV Aktiengesellschaft stock

OMV Aktiengesellschaft finds support from accumulated volume at 45.58€ 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 0.600€ (1.29%) between high and low. For the last week, the stock has had daily average volatility of 1.78%.

Since the OMV Aktiengesellschaft has been rising for 6 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.

Our recommended stop-loss: 45.33€ (-3.52%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 9 days ago.)

Trading Expectations (OMV.F) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect OMV Aktiengesellschaft to open at 46.94€, and during the day (based on 14 day Average True Range), to move between 46.09€ and 47.87€, which gives a possible trading interval of +/-0.89€ (+/-1.90%) up or down from last closing price. If OMV Aktiengesellschaft takes out the full calculated possible swing range there will be an estimated 3.80% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ 45.58€, some 1.40€ (2.98%) from the current price of 46.98€, our system finds the risk reward attractive.

Is OMV Aktiengesellschaft stock A Buy?

OMV Aktiengesellschaft 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 OMV Aktiengesellschaft of Monday, May 13, 2024

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