Pirelli & C. S.p.A. Stock Forecast
Pirelli & C. S.p.A. stock upgraded from Buy Candidate to Strong Buy Candidate after Friday trading session.
(Updated on May 10, 2024)
The Pirelli & C. S.p.A. stock price gained 2.74% on the last trading day (Friday, 10th May 2024), rising from 6.07€ to 6.23€. During the last trading day the stock fluctuated 5.80% from a day low at 5.97€ to a day high of 6.31€. The price has risen in 7 of the last 10 days and is up by 4.91% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 million more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately 25.58€ 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 6.32€ will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 14.22% during the next 3 months and, with a 90% probability hold a price between 6.62€ and 7.22€ at the end of this 3-month period.
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PIRC.MI Signals & Forecast
Mostly positive signals in the chart today. The Pirelli & C. S.p.A. 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 6.10€ and 5.86€. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 11, 2024, and so far it has risen 18.43%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Pirelli & C. S.p.A. stock
On the downside, the stock finds support just below today's level from accumulated volume at 5.54€ and 5.54€. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Pirelli & C. S.p.A. finds support just below today's level at 5.54€. If this is broken, then the next support from accumulated volume will be at 5.54€ and 5.41€.
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 0.346€ between high and low, or 5.80%. For the last week the stock has had daily average volatility of 2.69%.
Our recommended stop-loss: 6.01€ (-3.62%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 41 days ago.)
Trading Expectations (PIRC.MI) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Pirelli & C. S.p.A. to open at 6.17€, and during the day (based on 14 day Average True Range), to move between 6.11€ and 6.36€, which gives a possible trading interval of +/-0.124€ (+/-1.98%) up or down from last closing price. If Pirelli & C. S.p.A. takes out the full calculated possible swing range there will be an estimated 3.96% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ 5.54€, some 0.690€ (11.07%) from the current price of 6.23€, our system finds the risk reward attractive.
Is Pirelli & C. S.p.A. stock A Buy?
Pirelli & C. S.p.A. holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 8.287 Strong Buy Candidate Upgraded
Predicted Opening Price for Pirelli & C. S.p.A. of Monday, May 13, 2024
Fair opening price May 13, 2024 | Current price |
---|---|
6.17€ ( 0.99%) | 6.23€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PIRC.MI
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 6.52 | 4.56 % | |
R2 | 6.39 | 2.44 % | ||
R1 | 6.30 | 1.13 % | ||
Current price: | 6.23 | |||
Support | S1 | 6.04 | -3.11 % | |
S2 | 5.96 | -4.42 % | ||
S3 | 5.83 | -6.54 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 6.23 | |||
Support | S1 | 5.54 | -11.07% | |
S2 | 5.54 | -11.13% | ||
S3 | 5.41 | -13.15% |
PIRC Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jun 24, 2024 | Jun 24, 2024 | Jun 24, 2024 | 0€ | 0% |
2 | Jul 24, 2023 | Jul 24, 2023 | Jul 24, 2023 | 0.218€ | 4.64% |
3 | May 23, 2022 | May 23, 2022 | May 23, 2022 | 0.161€ | 3.57% |
4 | Jun 21, 2021 | Jun 21, 2021 | Jun 21, 2021 | 0.0800€ | 1.56% |
5 | Jun 22, 2020 | Jun 22, 2020 | Jun 22, 2020 | 0.183€ | 4.69% |
FAQ
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