Recordati Industria Chimica e Stock Forecast
Evaluation of Recordati Industria Chimica e stock downgraded after the last trading session.
(Updated on Apr 24, 2024)
The Recordati Industria Chimica e stock price fell by -4.98% on the last day (Wednesday, 24th Apr 2024) from 52.60€ to 49.98€. During the last trading day the stock fluctuated 7.01% from a day low at 49.90€ to a day high of 53.40€. The price has risen in 6 of the last 10 days but is still down by -0.04% for this period. Volume has increased on the last day by 88 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 478 thousand shares were bought and sold for approximately 23.90€ million.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Recordati Industria Chimica e stock with a 90% probability to be traded between 47.80€ and 51.91€ at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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REC.MI Signals & Forecast
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. The Recordati Industria Chimica e stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at 50.22€ and 51.05€. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 23, 2024, and so far it has fallen -4.98%. Further fall is indicated until a new bottom pivot has been found. 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 Recordati Industria Chimica e stock
Recordati Industria Chimica e finds support from accumulated volume at 49.92€ 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 3.50€ (7.01%) between high and low. For the last week, the stock has had daily average volatility of 3.56%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (REC.MI) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Recordati Industria Chimica e Farmaceutica S.p.A. to open at 51.09€, and during the day (based on 14 day Average True Range), to move between 48.75€ and 51.21€, which gives a possible trading interval of +/-1.23€ (+/-2.47%) up or down from last closing price. If Recordati Industria Chimica e Farmaceutica S.p.A. takes out the full calculated possible swing range there will be an estimated 4.93% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 49.92€ (0.12%) than the resistance at 51.10€ (2.24%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Recordati Industria Chimica e Farmaceutica S.p.A. stock A Buy?
Recordati Industria Chimica e holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -4.177 Sell Candidate Downgraded
Predicted Opening Price for Recordati Industria Chimica e Farmaceutica S.p.A. of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| 51.09€ ( 2.23%) | 49.98€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for REC.MI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 54.59 | 9.23 % | |
| R2 | 53.26 | 6.56 % | ||
| R1 | 52.43 | 4.90 % | ||
| Current price: | 49.98 | |||
| Support | S1 | 49.76 | -0.448 % | |
| S2 | 48.93 | -2.10 % | ||
| S3 | 47.59 | -4.78 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 52.84 | 5.72 % | |
| R2 | 51.76 | 3.56 % | ||
| R1 | 51.10 | 2.24 % | ||
| Current price | 49.98 | |||
| Support | S1 | 49.92 | -0.120% | |
| S2 | 49.86 | -0.240% | ||
| S3 | 48.70 | -2.56% |
REC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 20, 2024 | May 20, 2024 | May 22, 2024 | 0.630€ | 1.26% |
| 2 | Nov 20, 2023 | Nov 20, 2023 | Nov 20, 2023 | 0.570€ | 1.28% |
| 3 | May 22, 2023 | May 22, 2023 | May 22, 2023 | 0.600€ | 1.36% |
| 4 | Nov 21, 2022 | Nov 21, 2022 | Nov 21, 2022 | 0.550€ | 1.41% |
| 5 | May 23, 2022 | May 23, 2022 | May 23, 2022 | 0.570€ | 1.35% |
FAQ
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