Prysmian S.p.A. Stock Forecast
Prysmian S.p.A. stock upgraded from Buy Candidate to Strong Buy Candidate after Thursday trading session.
(Updated on May 09, 2024)
The Prysmian S.p.A. stock price gained 3.75% on the last trading day (Thursday, 9th May 2024), rising from 52.84€ to 54.82€. During the last trading day the stock fluctuated 5.52% from a day low at 52.16€ to a day high of 55.04€. The price has risen in 6 of the last 10 days and is up by 7.87% 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, 604 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately 76.53€ million.
The stock has broken the strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at 54.47€, a level that may pose a second chance to hit a runner. According to fan-theory 58.87€ 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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PRY.MI Signals & Forecast
Mostly positive signals in the chart today. The Prysmian 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 52.33€ and 49.89€. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 10.88%. 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. The stock had a Golden Star Signal on Monday, July 10, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Monday, July 10, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Prysmian S.p.A. stock
On the downside, the stock finds support just below today's level from accumulated volume at 50.70€ and 46.05€. 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, Prysmian S.p.A. finds support just below today's level at 50.70€. If this is broken, then the next support from accumulated volume will be at 46.05€ and 42.93€.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved 2.88€ between high and low, or 5.52%. For the last week, the stock has had daily average volatility of 2.54%.
Our recommended stop-loss: 52.90€ (-3.50%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (PRY.MI) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Prysmian S.p.A. to open at 54.01€, and during the day (based on 14 day Average True Range), to move between 53.54€ and 56.10€, which gives a possible trading interval of +/-1.28€ (+/-2.33%) up or down from last closing price. If Prysmian S.p.A. takes out the full calculated possible swing range there will be an estimated 4.66% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ 50.70€, some 4.12€ (7.52%) from the current price of 54.82€, our system finds the risk reward attractive.
Earnings coming up
Prysmian S.p.A. will release earnings BMO on Thursday, May 09, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.680. We will update the financials statements for Prysmian S.p.A., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.69% in the first trading day after earnings release.
Is Prysmian S.p.A. stock A Buy?
Prysmian S.p.A. holds several positive signals and has broken the strong rising trend up. As the stock is also in great technical shape 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: 8.906 Strong Buy Candidate Upgraded
Predicted Opening Price for Prysmian S.p.A. of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| 54.01€ ( 1.48%) | 54.82€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PRY.MI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 56.89 | 3.77 % | |
| R2 | 55.79 | 1.76 % | ||
| R1 | 55.11 | 0.523 % | ||
| Current price: | 54.82 | |||
| Support | S1 | 52.91 | -3.49 % | |
| S2 | 52.23 | -4.73 % | ||
| S3 | 51.13 | -6.74 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 54.82 | |||
| Support | S1 | 50.70 | -7.52% | |
| S2 | 46.05 | -16.00% | ||
| S3 | 42.93 | -21.69% |
PRY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 22, 2024 | Apr 22, 2024 | Apr 24, 2024 | 0.700€ | 1.38% |
| 2 | Apr 24, 2023 | Apr 24, 2023 | Apr 24, 2023 | 0.600€ | 1.61% |
| 3 | Apr 19, 2022 | Apr 19, 2022 | Apr 19, 2022 | 0.550€ | 1.84% |
| 4 | May 24, 2021 | May 24, 2021 | May 24, 2021 | 0.500€ | 1.78% |
| 5 | May 18, 2020 | May 18, 2020 | May 18, 2020 | 0.250€ | 1.33% |
FAQ
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