Remak-Energomontaz S.A. Stock Forecast

Remak-Energomontaz S.A. stock downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on Jun 28, 2024)

RMK.WA Signals & Forecast

There are few to no technical positive signals at the moment. The Remak-Energomontaz S.A. 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 15.84zł and 15.88zł. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 23, 2024, and so far it has fallen -2.77%. 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). Remak-Energomontaz S.A. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.

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

On the downside, the stock finds support just below today's level from accumulated volume at 15.00zł and 14.80zł. 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, Remak-Energomontaz S.A. finds support just below today's level at 15.00zł. If this is broken, then the next support from accumulated volume will be at 14.80zł and 14.30zł.

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 0.1000zł between high and low, or 0.633%. For the last week the stock has had daily average volatility of 0.95%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (RMK.WA) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Remak-Energomontaz S.A. to open at 15.83zł, and during the day (based on 14 day Average True Range), to move between 15.55zł and 16.05zł, which gives a possible trading interval of +/-0.247zł (+/-1.57%) up or down from last closing price. If Remak-Energomontaz S.A. takes out the full calculated possible swing range there will be an estimated 3.13% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 15.85zł (0.32%) than the support at 15.00zł (5.06%), 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 Remak-Energomontaz S.A. stock A Buy?

The Remak-Energomontaz S.A. stock holds several negative signals and despite the positive trend, we believe Remak-Energomontaz S.A. will perform weakly in the next couple of days or weeks. Therefore, we 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: -2.031 Sell Candidate Downgraded

Predicted Opening Price for Remak-Energomontaz S.A. of Monday, July 1, 2024

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